Word: taxing
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Dates: during 1960-1969
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...House sent in the first economics team anyway: Treasury Secretary Henry Fowler, Budget Director Charles Schultze, Federal Reserve Chairman William McChesney Martin and Chairman Gardner Ackley of the Council of Economic Advisers. For two days, the witnesses piled statistic on projection to prove essentially two points: that without the tax increase inflation will grow ever more serious, and that the added revenue is sought not to finance new spending programs but to hold the federal deficit to a manageable figure...
Austerity Psychology. "Let's get that pencil of yours a little sharper," Mills told Schultze. "I'm the attorney for the taxpayer in this case." The attorney in this case is also the court of last resort for the tax bill...
Mills did indicate sympathetic consideration for certain minor parts of the Administration's revenue requests -an acceleration of corporate tax payments and retention of telephone and automobile levies that were scheduled to decrease April 1-but even with these, the projected budget deficit for fiscal 1969 could be about $18 billion instead of the $8 billion targeted by the White House. After indicating these possible concessions, Mills announced that his committee would turn to other business when it reconvenes next week. He gave no hint whether or when the tax surcharge would be reconsidered. However, if mobilizing of military...
...only acted highhanded in public (he has periodically scolded Danish workers for yearning for the better life), but has hurt his image by ignoring the sound political advice of his party cronies. He blundered, for example, by insisting on holding last week's elections right at income-tax time. That was the last straw. The Danes ousted Krag at the polls, ending the Socialist rule over their little kingdom (pop. 4,800,000) that has prevailed for most of the postwar years...
...took steps to pump $675 million of new spending money into the sluggish French economy. The government raised family allowances (which form a major part of the income of the poor) by 41%, boosted old-age pensions by $20 a year, and granted a 15% cut in personal income tax payments due Feb. 15. The Cabinet also ordered a 10,000-unit increase in construction of public housing this year, lowered interest rates on loans for construction, exports, farm and industrial equipment, and expanded tax incentives for private and public investments...