70 Year Magazine Archive

For the Record

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Senator William Knowland will announce his candidacy for the governorship of California in September when he opens a two month speaking tour with an address to the State Republican Assembly…. Senator Robert Kerr has received more mail commending his assault on President Eisenhower than condemning it. Sample: “The word ‘fiscal’ was entirely superfluous.’’

Congress has shelved the revolutionary tax bill introduced by Congressman Antoni Sadlak which would have saved taxpayers $15 billion over five years by reducing tax rates as the national economy expands (leaving the government with the same annual revenue)….An average $85-a-week American wage earner works one-and-a-half days out of five to pay his taxes….Almost a thousand more businesses failed in the first five months of 1957 than during the comparable period in 1956. The Small Business Administration may redefine ‘‘small business”—now a company with fewer than 500 employees—to make more companies eligible for its loans.

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