European Stars And Stripes (Newspaper) - March 11, 1966, Darmstadt, Hesse 4 the stars and stripes March 1966 economists urge Speed tax hike decision expected in May by serum Kokh March 1 in May in now considered the earliest pos Sihler Dale for Frest left Johnson to Mit Fec his decision on whether to scr a further Ailiin Rahnn Lux out the president and his Gnu nil of arc increasingly pressed to mover Morr by economists non tear thai his quickie Hilliii Vid Nam Tux Bill is Loo Little and the Mousci kissed him Uio Pri Wilh ran Spiel in a 799 approval in Ihn 11 Musl now an to a joint Johnson hits told Congress he Wauls in in his desk ready for by March it has n air run of off relive Doles hrs writ then and May do us of fort any in res Rutn Taff inflationary pressures wont be a Murable unlit my or administration sources Suid they Sec no evidence shul the White in nun Plum to move any earlier him burning same dramatic rupture of tie Wafie primp line or Sharp escalation of the Johnson so hinted confronted Villi new evidence that the Boom is Carml Lnig official a dip in the unemployment to per lowest 1j years he our eur bration must be tempered with caution lest thu Advance be Onu in full Lor 1tic president Huw balt Vil to coincide Tiit we must Cru tech cautiously not mean that we should slum in the brakes or throw the icon my into official sources amplified them is considerable concern lest Over Hasty or measures Send he Floc Carold Boom Over the Brink into a the feels Ihal even a unemployment Rule does not represent full in wants lit sin Down the expansion rather Chiin Stop 11 officials therefore consider dial a Altitude is proper fur the next 60 Dilys Urbo since the ski Dullni Stock Market is having a so effect on inc business if the Slock Price slide Contin some experts in May cause postponement of some planned Plant Anil equip ment alow Down inventory and even discourage some Consumers from making big outlays for new houses and i head ministration wants to lest the Mill inflationary effects of the new tax with its Jurn Dulard income Texe Carpo Tux und Restora Tion of the 1 excise tastes on new automobiles and Tele phone the Usta excise Chance takes effect first on the any after West Point Dav new Yori Nelson Rockefeller right presents a h is March is in Point Day to new York from left o Are Congress Man John Murphy or a us West paint graduate cutlet first Captain Norman Fretwell of and Donald West Point is inflation around the editors note lion la a huns Rnold word As Well As a political in the tint of Twu sum a by Sannu news and an s e r i questions bothering to time Vici us Well As Washington policy by Sam Dawson the rink Cost of of Notni Husi Amerl inns wondering if there in for another round of of most probably would Phonise if tomorrows paycheck will buy even less than As government offic iils and debate the com plex problem at in Lulion and what to do about Here arc some simplified answers to inc questions Many people arc ask ing today casts wag americans Olsi in the Supply of Money and credit since last summer Natl suy Thiol this has Given business men and Consumers the Hil Hul to bid up Price of Fiovo piment Ufa Clala contend Lite Money increase was needed to feed tile Cio nomic growth of High Tut the Rifle til it Ith or the first Lime in nine do you Lill inflation from hip Pelee into inns a Var Imti a Monk re but along a by Huw much my How is info Lloil a to most Cuple inflation la a persistent und audit Antul increase in the general level of but Many economists Call this inc end product of in not info Ilion they define inflation As the result o Ino Nenry policy too Many dollars chasing Loo few we have too Many Sollart did not a cite the unusual Fust prices the Cost of Liv inn for several yours Rose at about per cent a your and wits culled but in its the rate jul mind to 9 per hankers cull Thui 2 per vent Rise washing ton officials say 3 per cent would in inc danger Point and thut what weve Hern he Vine is economic growth rather than s per be a bit historically a the last time we Tad what everyone agreed was inflation was in the korean War Between june 1950 and March 1b51 the consumer Purtee Index Rose by an average of per cent a More important to the wholesale prices Rose in us Conige of Jar cent a the wholesale Price Index or hating now a after several years of being Fruct Cully Iho Index Lii is jumped per cent is no june and die Rise in it Tiit months has been the does Infra thin Hurt every one a at not at some Are hurl in once when prices but Many actually enjoy inflation it the Are the first victims at inflation a those who live on fixed these include the eld Erly and retired or social less of what they and they ciin1 Hope Lor a pay increase to offset a savers Are whether it to those who put Money in in or in when they use the inflation has Cut their Market value just As it port i he savings had been stolen out do some enjoy latin lion in its Early a rising or itch Wiiri brine Risafi or Ca Pittil i pins on Smith in incs of common stocks Rawl estate und Art kor i Limo inflation heats no the makes More jobs far those producing More ii Odon to be sold at the hither Price business looks profits Arr higher if Worth less when thin the Bubble bursts anal most Folk discover there Suisi off than next Vhal Loda about Inha when to do the Hill is sir fled into Law but officials expect Ilelle if any re straining of feel on Auto sales from this average Cost increase of to a the increase in Telephone Bills will Zumie some weeks tic first significant bile taken out of consumer buying doct will show up in the first pay checks received Liy Consumers in they will have Nigger in Many suiting from the switch to a graduated scale of six withhold intr in Saciid of the present Flat 14 per cent withholding the major Dampen los of la expected from the corporation tax ser Clury of the Treasury Henry Fowler reportedly Cleves that a Good Many corporations May decide to defer marginal investments in new plants and equipment Ubea fund with the bigger quarterly lax companies Wimch operate on a pal Cedar year basis will feel the first blow in when a b per cent payment on estimated tax is due under present the payment will jump to it per cent under the pending another 1 per cent payment will fall due on june 15 then the quarterly payments become 15 per Industry will be on 11 current tax basis by instead of moving id it gradually by some prominent economists have voiced serious doubts that these plus credit tightening Steps which have been taken and May a Lull be Tok can prevent the smouldering embers of inflation from burst ing Inlo Walter Lor mar chairman of Johnsos eco has not joined the Pii Ruilt of economists Call ing for a further general income and corporation Bui he urged last month that Congress and the Tresnit lose in Lime in hammering ant the general contours of a Viet num surtax on our income a Suroiu is one of the def res under study by he an economic adviser to the Lute president John Paul ski Truelson of Massa his Iii Institute of voiced Urc it to called Tor an tax involving Levels of the personal income lax As Well is the corporate Yale University by who was a member of t he presidents Cou Neir under took a similar stand in a letter to the wuss Nyuton Tobin noted that Johnson had stated he would Hsk for additional taxes if Neces tiry and Toibin added he should do so without de european coition the ipes include the eld us the car pensions William or Rity Cheeks buy feb Funk i
