John F. Kennedy on Corporations
The resolve of the steel magnates broke when Inland Steel of Chicago, the eighth largest company in the industry, refused to raise its prices. Before long, Bethlehem Steel, the nation's second largest producer, capitulated, and the U.S. Steel caved in. Steel prices returned to the level they had been at the start of the week.
Kennedy responded, "What you are doing is in the best interest of your shareholders. My shareholders are every citizen of the US. I'm going to do everything in the best interest of the shareholders, the people of this country."
The next day, Robert Kennedy announced an antitrust investigation of the steel price hike. Subpoenas to produce documents were served on US Steel. The Pentagon was ordered to buy steel "where possible" from companies that had not raised prices. By the next night, 8 steel companies that had announced price hikes canceled them.
[With other measures], this net reduction in tax liabilities of $10 billion will increase the purchasing power of American families and business enterprises in every tax bracket, with greatest increase going to our low-income consumers. I do not say that a measure for tax reduction and reform is the only way to achieve these goals.
|Other past presidents on Corporations:||John F. Kennedy on other issues:|
George W. Bush(R,2001-2009)
George Bush Sr.(R,1989-1993)
John F. Kennedy(D,1961-1963)
Harry S Truman(D,1945-1953)
Past Vice Presidents:
Natural Law Party