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...those on liquor, gasoline and tobacco, and substitution of a flat sales tax on everything except food, rent and medicines. Spokesman for the committee was old New Dealer Leon Henderson onetime head of OPA. A sales tax, he argued, would produce revenue quickly, discourage spending, spread the increased tax load to all income brackets, and be easier to collect than income...
...under the excise tax system, said Henderson, only $40 billion, or 22.7% of a total $179 billion in consumer spending, was taxed. His contention: some things were being taxed too heavily, others that should have been sharing the load were not being taxed at all. Henderson figured that at least $89 billion of untaxed expenditures (excluding such essentials as food and rent) should be taxed. Including the goods that are already subject to excise taxes-and projecting the figures to 1952 levels-that would broaden the tax base from $40 billion to $130 billion. A 5% tax on this broad...
What's Bad? To the anti-sales taxers, some of the arguments that Henderson advanced are just the reasons why the U.S. should have no national sales tax. The fact that it spreads the tax load is one of its weaknesses. Instead of taxing on the basis of ability to pay-the traditional test of a good tax-a sales tax hits those hardest who can least afford to pay. Example: a $3,000-a-year family spends the major part of its income (mostly on necessities), thus the tax hits most of its income. A high-income family...
...bomber, a bigger, faster version of the B-47. Intended as a replacement for the giant, cigar-shaped B-36 (and as a rival of a new sweptwing, all-jet B-36), the swift new heavy, powered by eight jet engines, will have almost the same range and bomb load as the B-36, and a lot more speed. If all goes well, the B-52 will make its maiden flight next fall, start coming off production lines twelve months later, six years after the first design and a full year ahead of schedule...
Said Howe: "On a per capita basis, we shall probably carry more [of a defense load] than many of our allies ... To you in the United States who are used to thinking in astronomical totals, the figures may not appear large, but relatively, they represent something like a comparable drain on the national output...