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Newspaper
The Cincinnati Sun
Location
Cincinnati, Ohio, United States of America
Date
Dec 02, 1955
Page
2
Phone directory notice lists weekly publication details and office contact in Cincinnati Ohio. Includes Garfield 1 2550 and Keith Building address under March 3 1879 act.
A prominent Wall Street executive, W. T. Hyde Jr. of Josephthal & Co., endorses the Guaranteed Annual Wage as a tool to stabilize income and reduce communist vulnerability. He argues GAW could supplement unemployment insurance and help counter cyclical recessions, with benefits shared by capital and labor if fairly structured. Readers react with sharp replies.
A 1000 page economist report to Congress challenges the view of a highly progressive tax system. It shows the lowest income group under $2000 pays 27 percent of income in taxes while the top over $10,000 pays 41 percent. Federal taxes are more progressive than the overall rate. state and local taxes are regressive.
A panel led by Rep. Mills plans open hearings on a Columbia professor’s critique of the tax code. The analysis finds the burden falls harder on low and middle income earners while large investors and big businesses gain from preferential treatment. It cites sections favoring Louis B Mayer and calls for nationwide airing of the issue.
Victor G. Reuther of the CIO International Affairs Department urged a Senate Judiciary Subcommittee on Immigration and Naturalization to approve a liberal policy. He called for entrance of substantial numbers of immigrants and argued that America's openness stems from its immigrant heritage and pursuit of equality of opportunity.
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