Word: pechman
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Noted the Brookings Institution's Joseph Pechman: "When you also rack into your calculations continuing high agricultural prices and increases in worldwide metal prices, regardless of what happens to the economy, living costs have to go up." When they do so, consumer prices for the whole of 1973 are expected to increase by 8%, the biggest advance since 1947. Again, the major cause is food-price increases...
Humphrey was right. Some of the funds to provide benefits for large families would have come from small families and single people under the plan. "We worked all summer to try to deal with the secretary problem," Joseph Pechman, a Brookings Institution economist who joined the campaign after the California primary, said. "We did (do something about it) with gimmicks, but that upset the plan...
Overall, Harris' group estimates that the tax code provides $25 billion in "welfare for the rich." Brookings economists Joseph Pechman and Benjamin Ochner go even further, asserting that Federal tax subsidies--which favor mainly the well-to-do -- amount to $77 billion...
...economists point out that effective tax rates on top-bracket individuals have been declining steadily since World War II, because of a combination of loopholes and rate reductions, while rates on lower incomes have increased because of the growing importance of regressive sales, payroll and Social Security taxes. Joseph Pechman, another member of TIME'S Board of Economists, has found that the effective rate of federal income tax paid in 1967 by the top 1% of taxpayers was only 26%, even though the nominal federal tax rates on their income brackets ranged...
...billion. In the months since, the Board's prediction has been echoed by other analysts until it has become the standard forecast. When TIME's economists assembled a few days ago, they said that the economy's fresh momentum led them to even higher predictions. Joseph Pechman, director of economic studies at Washington's Brookings Institution, asserted somewhat hyperbolically that the night before the meeting he had been revising his predictions upward "every hour on the hour...