Too little and too late?

September 1950
America;9/16/1950, Vol. 83 Issue 24, p618
The article comments on the delay in the approval by the U.S. Congress over an increase in personal and corporation taxes amounting to $4.5 million. It stresses that the Congress was able to grant special economic powers to President Harry S. Truman within 43 days yet not to tax increase which is considered by the government as an essential part of its economic mobilization program. It adds that the delay contributed to the existing inflationary potential. It mentions that without the delay, the initiative is still unlikely to bring benefits.


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