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(Studio) Positions of President Reagan and Walter Mondale on issue of raising taxes to fight federal deficit outlined.
REPORTER: Dan Rather
(DC) Tax issue's role in current presidential campaign examined. [At Democrat conv., MONDALE - promises to raise taxes.] [Last night, REAGAN - has no plans for tax increase] [Today, REAGAN - criticizes Democrat economy platform.] [MONDALE - notes President doesn't have tax plan.] [Representative Pat WILLIAMS, Senator Robert DOLE - debate issue.] [American Enterprise Institution spokesperson Norman ORNSTEIN - thinks raising taxes may be good pols. now.] Division in Republican party over tax issue described.
REPORTER: Bob Schieffer
(NYC) Federal deficit since Reagan took office outlined on screen; need to reduce spending and raise taxes discussed as it pertains to consumer. [Econ. Allen SINAI - doubts if any President can avoid raising taxes.] Budget categories targeted for possible cuts outlined on screen, discussed. [Econ. Arthur LAFFER - believes higher taxes will result-in major recession and higher budget deficit.]
REPORTER: Ray Brady
- Brady, Ray;
- Rather, Dan;
- Schieffer, Bob
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