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Lyndon Johnson on Tax Reform

 


6% surcharge to restrain unbalanced economic expansion

We have now enjoyed 6 years of unprecedented & rewarding prosperity. Last year, in 1966:Our greatest disappointment in the economy during 1966 was the excessive rise in interest rates and the tightening of credit. They imposed very severe and very unfair burdens. Last year, I recommended fiscal and moderate tax measures to try to restrain the unbalanced pace of economic expansion. Legislatively and administratively we took several billions out of the economy. I recommend a surcharge of 6% on both corporate and individual income taxes--to last for 2 years or for so long as the unusual expenditures associated with our efforts in Vietnam continue.
Source: Pres. Johnson's 1967 State of the Union message to Congress , Jan 10, 1967

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Other past presidents on Tax Reform: Lyndon Johnson on other issues:
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George W. Bush(R,2001-2009)
Bill Clinton(D,1993-2001)
George Bush Sr.(R,1989-1993)
Ronald Reagan(R,1981-1989)
Jimmy Carter(D,1977-1981)
Gerald Ford(R,1974-1977)
Richard Nixon(R,1969-1974)
Lyndon Johnson(D,1963-1969)
John F. Kennedy(D,1961-1963)
Dwight Eisenhower(R,1953-1961)
Harry S Truman(D,1945-1953)

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Sen.Bob Dole
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Page last updated: Feb 20, 2014