Fiscal Policy Implications of the Economic Outlook and Budget Developments: Hearings Before the Subcommittee on Fiscal Policy of the Joint Economic Committee, Congress of the United States, Eighty-fifth Congress, First Session, Pursuant to Sec. 5 (a) of Public Law 304, 79th Congress ... |
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adjusted amount billion BRUNDAGE budget capacity capital cash Chairman changes COLM Congress consumer consumer units consumption continue corporate corporate tax cost debt decline defense deficit demand dollars economic growth economic outlook economist effect estimates excise taxes exemptions families Federal Government Federal Reserve Federal spending finance fiscal policy fiscal year 1958 funds going GOLDFINGER Government expenditures gross national product HOADLEY housing income tax individuals industry inflation inflationary pressures inventory Joint Economic Committee Korean war ment monetary policy nomic outlays output panel percent period personal income plant and equipment present problem production programs quarter question recent recession Representative CURTIS Representative MILLS revenue rise RUTTENBERG Secretary HUMPHREY Senator DOUGLAS Senator GOLDWATER Senator O'MAHONEY situation small business stability statement subcommittee substantial surplus tax cuts tax policy tax rates tax reduction tax structure taxation taxpayers tion Treasury trend wage World War II
Popular passages
Page 164 - Federal tax policy for economic growth and stability. Hearings before the Subcommittee on Tax Policy of the Joint Committee on the Economic Report, 84th Cong., 1st sess., Dec.
Page 335 - December 31, 1960, amounting to $149.7 billion. The experience of the Federal Deposit Insurance Corporation has been most favorable. During the period this Corporation has been in existence, premiums and other income have substantially exceeded losses which has permitted the retirement of Treasury and Federal Reserve capital amounting to $289.3 million (all repaid to Treasury), and the accumulation of $2.2 billion reserve as of December 31, 1960.
Page 217 - ... the Federal Government — with agreement for repayment — for the purpose of extending the duration of unemployment insurance payments to jobless workers who had exhausted their benefit periods. The experience of the 1958 recession indicates (1) the necessity of attempting to maintain a continuing balance between the economy's ability to produce and its ability to consume; (2) the danger to economic progress of tight money, high interest rate policies; (3) the importance to the national economy...
Page 332 - National bank notes and Federal Reserve bank notes assumed by the United' States on deposit of lawful money for their retirement 29,487 •Fractional currency 2,000 Total debt bearing no interest outstanding 225,242 ([Total gross debt »23,977,803 Matured interest obligations, etc.
Page 212 - ... effect on business as well as on workers. In the 1920s and earlier prosperous periods, the rise of consumer buying power lagged behind the economy's improving ability to produce. Much of the benefits of rising productivity in those days went for business profits and the income of wealthy families. The lack of balance between the economy's ability to produce and its ability to consume resulted in disasters such as the Great Depression of the 1930s. Such booms and busts need not take place if sales...
Page 271 - Excludes real property in the amount of $7,758 million under the Jurisdiction of the Civil Works Division, Office, Chief of Engineers, Department of the Army.
Page 274 - appropriation" means appropriations, funds, and authorizations to create obligations by contract In advance of appropriations. (2) In apportioning any appropriation, reserves may be established to provide for contingencies, or to effect savings whenever savings are made possible by or through changes In requirements, greater efficiency of operations, or other developments subsequent to the date on whirt such appropriation was made available.
Page 279 - Instead of expanding Federal enterprises or initiating new spending programs, the basic policy of the Government in dealing with the contraction was to take actions that created confidence in the future and stimulated business firms, consumers, and States and localities to increase their expenditures.
Page 165 - Congressman declared that an income tax "ought to leave free and untaxed as part of the income of every American citizen a sufficient amount to rear and support his family according to the American standard and to educate his children in the best manner which the educational system of the country affords.
Page 256 - This can be partly explained by the appreciation of the kr6na towards the end of last year and in the early part of this year and lower-than-expected global inflation.