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Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Mar 30, 1966
Page
3
President Johnson outlined a set of wage and price guidelines aimed at curbing inflation. He proposed wage increases capped at 8.2 percent and no price raises, applying these limits to both labor and business sectors.
President Johnson urges restraint as February shows the sharpest cost of living rise since the Korean War led by food. He presses Congress for a possible tax increase to curb inflation while inviting top business leaders to a White House dinner and facing labor protests over wage limits.
President Johnson told advisers the tax plan could raise about 5 billion dollars if inflation persists, while Congress already boosted taxes to about 6 billion for Viet Nam war financing. The moves included higher automobile excise and telephone taxes, tighter withholdings, and faster corporate collections.
Airman Horace W. Smith, son of Mr and Mrs Walker R Smith of Doubs, has graduated at Keesler AFB Mississippi from a training course for U S Air Force navigation equipment repairmen. He will be assigned to McChord AFB Washington for duty. He is a Frederick High School graduate and attended Frostburg State College.
The Viet Nam and Korea wars influence shares via rumors of higher military spending and potential tax hikes. Historically, wartime controls and profits taxes affected earnings, yet postwar tax cuts spurred a market rally. Traders focus on earnings potential over price guidelines as policy debate continues.
Analysts note persistent volatility as markets debate how much inflation could rise further. Investors seek clarity from policymakers while经济 signals show mixed data and shifting expectations about future price pressures.
John Lopez of Brooklyn becomes the first Puerto Rican named a Senate page chosen by Sen. Jacob Javits from 12 finalists for the $5,100 yearly post. Lopez’s father Juan emigrated to the United States in 1944 and calls the appointment a privilege and a blessing.
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