Word: ullman
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Ways and Means Chairman Al Ullman, Carter said that he "would not sign a bad bill, election year...
...guests heard from and fired questions at a long list of panelists and speakers. They included Treasury Secretary Michael Blumenthal, Federal Reserve Board Chairman G. William Miller, White House Economics Adviser Charles Schultze, Senate Finance Committee Chairman Russell Long, Senator Edward Kennedy, House Ways and Means Chairman Al Ullman, and Conable. What emerged, among other things, was a surprisingly broad consensus that tax policy, both as a mirror of the nation's goals and as a tool to help achieve them, is moving-and must continue to move-in a new direction...
...choking grip of taxation must be loosened to let the underproductive, inflation-riddled U.S. economy breathe more freely and create more profits, capital and jobs. That sentiment was fully reflected at the Time Inc. conference. Sounding what might well have been the keynote of the proceedings, liberal Democrat Ullman declared that in its approach to taxation the nation is undergoing "a turn-around of major magnitude." After a decade in which tax policy was tilted toward achieving various social goals, Ullman observed, the federal taxing powers are about to be shifted to a new priority. Said he: "We are moving...
...Ullman's call for help for private enterprise might have seemed startling a few months ago, but at the conference it was the unchallenged wisdom echoed by speakers of many viewpoints. Former Commerce Secretary Peter Peterson, now head of Wall Street's Lehman Brothers Kuhn Loeb, coupled a persuasive appeal for steps to foster the development of new businesses with a wry observation that "an investment banker calling for a cut in capital gains taxes has all the credibility of Dracula asking for charitable contributions to the blood bank...
...congressional policymakers are agreed that the era of reform in taxes can be closed out, because most of the loopholes have been sewn up. Indeed, Ullman chided Carter for having raised the reform issue without any acknowledgment of the many steps taken since the 1969 tax reform to remove inequities in the system. Long pointed out that much of the push behind reform derived from public fury in the late 1960s over some widely publicized reports about people with huge incomes who paid no taxes. Indeed, he said, one poll shows that many still think that more than half...