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Businessmen Demand Tax And Save Plan
The Committee for Economic Development urged a swift tax and save program to blunt inflation from military spending. It warned defense outlays could hit 30 to 35 billion dollars annually next year and proposed a five point action including tax boosts, savings bonds, and curbs on nonmilitary spending. It also backed Mobilization Act II and a watchdog committee to expose hoarding and price or wage spikes. The plan stressed restraint on government nonmilitary spending and targeted tax increases as the core measures.
MENTIONED IN THIS ARTICLE
Washington
Committee For Economic Development
Businessmen’s Planning Organization
Congress
Truman
Treasury
Marion B. Folsom
Eastman Kodak Co
C.E.D
Myer Kestnbaum
Hart, Schaffner & Marx
Chicago