Word: taxing
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Dates: during 1960-1969
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...Republican, just like his boss. But he gets along well with California's right-wing extremists. He directed U.S. Sen. George Murphy's campaign in 1964, and he ran comfortably on Ronald Reagan's ticker for Lieutenant-Governor. Perhaps both men have decided that the cities deserve more than tax incentives to lure business into the ghettoes, but they have no indicated any change of heart since the election. Nixon's biggest contribution to the urban crisis has been to appoint Rogers--a county bond specialist--as Attorney-General instead of the J. Edgar Hoover type his campaign promised...
...happens, so are many economists and Government officials, together with surprising numbers of business and political leaders. Milton Friedman, Barry Goldwater's conservative economist in 1964, has long called for what he terms the negative income tax. Yale's James Tobin, a leading liberal economist, has been an effective proponent of what is sometimes called the guaranteed annual income. Though the plans vary considerably in detail, the principle is the same: everyone is entitled to a basic income as a matter of right. Under Tobin's plan, the most carefully thought out, no family of four would...
While economists tend to favor the negative-income-tax principle, sociologists, most notably Daniel Patrick Moynihan, tend to prefer another kind of income supplement: family or children's allowances. Under this scheme, every family in the country, rich or poor, would receive a certain amount of money for each child. The affluent would return it with their income taxes, but those who really need it would keep it for basic needs. The main beneficiaries would be the children. No fewer than 62 nations, including Canada and all the countries of Europe, already give family allowances. The family allowance, unlike...
There are, to be sure, difficulties as well. The family allowance would still not take care of the childless poor, while the negative income tax could not really be administered, as its proponents sometimes claim, with only a small addition to the staff of the Internal Revenue Service. For one thing, money would have to be handed out monthly or weekly, a big chore that would cause rather substantial changes in the IRS bureaucracy. The negative income tax would have a further practical drawback. Middle-income workers would not benefit at all, as they would with family allowances, and they...
...Nixon's economists go, McCracken leans slightly to the left. But he can hardly be considered doctrinaire. He will likely recommend the use of the same tax-and-monetary tools relied on by the New Economists, but more sparingly. He believes that the Democrats have thoroughly mismanaged the economy, particularly by relying too much on changes in tax rates to "tune" the state of business. The current 10% tax surcharge helped convince him that tax increases are not only difficult to ram through a constituent-minded Congress but usually have slow effects when finally enacted. "We are beginning...