Show f 0 apparently nobody likes the revenue i act written by the house ways and means committee president truman asked the legislators isla tors to increase revenue by the bill under consideration wont do that so the administration ministration seems likely to be dissatisfied some business groups believed most t of the additional revenue needed for or pay as we go taxation might best be raised by general consumption tax many preferring I 1 a uniform excise tax on all manufactured I 1 goods except food and food products the bill before congress however provides only tor for some increases in selective excise taxes which business generally opposes on the ground that excises aises should be generally uniform and equal as between products and consumers unions active labor unions raised their usual cry that the increased inci eased revenues should be obtained through corporation taxes this cry very convincing because two boosts in corporation taxes in addition to an excess profits tax which was described as an economic absurdity but a political must had been P put u t into effect since the korean w war a r star stalled ted the unions go got man many of the things they wanted but some labor officials nevertheless are protesting about proposed in creases in the income tax as it af facts the lower brackets representative mason of 0 illinois himself a member 0 of the ways and means committee says he like the bill either lie ile denounced it recently as a tax measure which proposed to soak the rich but in its final result will actually soak the poor hardship feared in its final analysis this soak the rich tax bill of the administration will actually impose greater hardships upon the american working man than it will impose upon the man in the middle or upper tax brackets rep mason explained it may be a good political bill but it will prove to be a bad tax bill from the standpoint of the working man it will reduce his working opportunities because it means fewer jobs it will tend to increase the cost of necessities because it i will cut down the production of goods |