Word: hike
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...Political Salesman." The President was determined not to ire voters by calling for a deflationary, across-the-board tax hike. Yet all through the second session, Johnson kept urging the Congress to keep his domestic programs at low price levels. To many members, his pleas smacked of election-year politicking, but when the final dollar total for programs passed over both sessions was added up, the 89th had actually allocated $3.3 billion less than the President had requested. For the two years, the 89th had appropriated just under $264 billion, an alltime record...
This year, however, Ford again got out front on prices-and again had to back down. Two weeks ago, Ford announced an average price hike of $107 on its '67 models; Chrysler followed with a $92 increase. Both companies were dismayed when G.M. raised its prices by only an average of $53. Last week, therefore, Ford knocked $41 off its increase, putting it at a much more competitive $66, while Chrysler came down to $68. Thus, in the high-volume four-door field, the first raises had put suggested prices for Chrysler's Fury...
...expanding economy and an inadequate labor force. Unemployment is a negligible one-half of 1%, 70,000 foreign workers have been imported, and the ratio of available jobs to available men presently stands at 5 to 1. Thus, in 1964, Dutch trade unions negotiated an annual 15% wage hike. Last year came another 11%, this year 10.5%, and in negotiations going on for next year, the unions are demanding still another...
...their 1967 models had long been accepted by insiders. Last week Germany's Volkswagen led the way, announcing that the East Coast port-of-entry price for the modest Beetle would jump from $1,585 to $1,639. Then, in rapid order, came Ford, with an average $107 hike; Chrysler, with a $92 boost, and General Motors, with a lower and more competitive $53 increase...
...Bureau and the Treasury to work out some recommendations, put his men to work drafting an economic message that will outline a series of at least half a dozen specific actions. There will almost certainly be no general tax increase right now, partly because Johnson believes that such a hike would hurt Democrats in the coming elections and partly because he feels that asking for it now would give Republicans an excuse to gut some of his Great Society programs. Instead, the President will probably call for a temporary suspension of the 7% investment credit to business, a move that...