Word: hike
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...mayors. "Increases at these rates cannot long be tolerated." The President then brought up a subject that has become just about the major source of speculation in Washington: the possibility of a tax increase. Despite widespread urgings by such economists as M.I.T.'s Paul Samuelson that taxes be hiked to head off inflation, Johnson has repeatedly said that he considers a tax hike a last resort and that he has not made up his mind to ask for one. If the price situation worsened, however, he noted last week, he would have little choice...
...evidence for restrictive steps is weighty." At a seminar in Detroit, Columbia's Dr. Arthur F. Burns, who was Dwight Eisenhower's top economic adviser, complained that the Government is making "excessive use of monetary weapons and insufficient use of fiscal tools," called for a "modest" tax hike "to cool down the economy." Of eleven experts who testified before a subcommittee of the Senate-House Joint Economic Committee, three urged a cutback in Government spending and eight favored increased taxes, but all wanted some form of fiscal restraint to avert inflation. "Without an increase soon," said Yale...
...folksy gimmick, Heath reduced his attack on Wilson's economic policies to an arithmetic formula: 9-5-1. The nine stands for Britain's soaring 9% wage increases in the past year despite Labor's pledge to hold down wages. The five stands for the 5% hike in prices in spite of Wilson's pledge to enforce price stability. The one stands for Britain's perilously low 1% increase in productivity in the wake...
...Republicans as Nebraska's Carl Curtis, South Dakota's Karl Mundt, and Texas' John Tower-all of whom face re-election campaigns this fall. Next day the Senate approved, 46 to 42, an amendment by Indiana Democrat Vance Hartke, barring the Administration's proposal to hike the tax on local telephone service from...
...amended tax bill, which would also hike levies on new cars and telephone service and speed up tax collections, was expected to win passage this week in the Senate, after which the measure would go to the House for final approval...