Word: taxing
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Dates: during 1960-1969
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...pressure on interest rates and prices. At that, 1968 would hardly be austere. According to Johnson's projection, the G.N.P. would still rise more than 7%, to about $846 billion. Of the total, about 4% would reflect genuine gains, with the remaining 3% attributable to inflation. Without the tax bill's restraining influence, the Administration believes, these estimates would be thrown off completely...
...degree," but he insisted that he had moved "consistently in the right direction." The trouble with the tuning machinery of the new economics, he seemed to be implying, was mostly some loose wires in Congress. Johnson asserted that "damage has already been done" by congressional failure to enact the tax surcharge. "In the next few weeks," he added, "we must demonstrate that we can raise as well as lower taxes...
...Secretary Henry Fowler on a quiet but urgent mission to Little Rock, Ark. There, in The Coachman's Inn, the two Cabinet members spent a precious two hours and ten minutes with Representative Wilbur Mills in yet another effort to enlist his support for the President's tax bill. Mills, characteristically, was unimpressed...
...Rusk-Fowler trip pointed up the immense importance the White House attaches to both the tax increase and Mills's position as chairman of the powerful House Ways and Means Committee. Lyndon Johnson has lined up his whole Cabinet, the Federal Reserve Board and battalions of bankers, businessmen and economists behind the tax bill. But standing against this seemingly irresistible tide is Wilbur the Willful, an immovable sea wall...
...Malarkey. A bland, stocky native of Kensett (pop. 905), Democrat Mills, 58, maintains that the tax bill is not languishing in his committee because of his personal opposition. "The Administration," he told TIME Correspondent Neil MacNeil last week, "can have a vote any time. The fact is that they don't have the votes to pass the bill in the House. If I wanted to, I couldn't pass it." Congressional liaison men from the White House and legislative leaders of both parties agree that the House overwhelmingly opposes the tax bill. Republican Leader Jerry Ford believes that...