Word: pechman
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...needs a total overhaul. Second, re form makes taxpayers themselves uneasy because they are unwilling to give up the certainty of a deduction in return for only a promise to lower tax rates. In Federal Tax Reform: The Impossible Dream ?, Tax Experts George F. Break and Joseph A. Pechman observed: "Circumventing this dilemma is a task worthy of a Solomon...
...these reforms are only ideas at the moment. According to Pechman, a member of TIME'S Board of Economists and an adviser to Carter, the candidate-has not yet worked out a detailed plan. Indeed, Carter has said that he will not come up with one until after he has been in office for at least a year. The more specific he is, the more trouble he could get into, as was illustrated last week when the Ford camp repeatedly attacked Carter after he made a confusing statement about raising the taxes of people with "higher" incomes...
...well-known scholars. On foreign policy he has been advised by former U.S. Ambassador to the United Nations Charles Yost, former U.S. SALT Negotiator Paul Nitze and Columbia Government Professor Zbigniew Brzezinski and Law Professor Richard Gardner. On economic matters, Carter draws on moderate-to-liberal economists, including Joseph Pechman of the Brookings Institution; Albert Somers of the Conference Board, a group of business leaders and economists that makes analyses of U.S. economic policy; and M.I.T.'s Lester Thurow, who advised McGovern during the 1972 campaign...
...Joseph Pechman, a member of TIME's Board of Economists who is on leave from the Brookings Institution, accepts the need for some tightfistedness but thinks that Ford's budget goes much too far. Says he: "It's terrible. I don't think the economy can stand it. It's too drastic a change too early. I just don't think we should turn around so fast." Pechman also criticizes Ford's proposal to allow individuals to defer paying taxes on funds invested in certain stock plans. The economist argues that the idea...
Democrats on the Board of Economists-Heller, Okun, Pechman, Nathan-argue that inflation could be most effectively restrained by Government pressure on industry and labor to pursue moderate price-wage policies, leaving Washington free to stimulate the economy more through tax cuts, federal spending and faster money-supply growth. But they have no hope of changing President Ford's mind. They expect him to present a budget for fiscal 1977 of $395 billion, or $28 billion less than if no effort were made to hold down spending, and to resist further tax cuts not tied to such a spending...