TAX CUTS IN U.S.
PRESIDENT REFUSES BIG REDUCTIONS WASHINGTON, Feb. 16. President Truman said to-night that he would not endanger the peace of the world to satisfy advocates of false economy. Rejecting Republican demands for big cuts in taxation, he said that the resultant loss of revenue would restrict the defence and foreign aid programmes. President Truman was addressing 5300 Democrats, who each paid 100 dollars to attend the annual JefersonJackson dinner. He accused his political opponents of wishing to see the United States “turn our backs on the rest of' the world and drop our efforts to strengthen our domestic economy.”. Denying charges that the Administration’s "programme was socialistic, President Truman said: “For the Republicans to drag out the same old north-eaten scarecrow of socialism again in 1950 is an insult to the intelligence of the American people.” At no point in his prepared address did he indicate whether he would seek re-election in 1952.
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Ashburton Guardian, Volume 70, Issue 107, 18 February 1950, Page 5
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156TAX CUTS IN U.S. Ashburton Guardian, Volume 70, Issue 107, 18 February 1950, Page 5
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