On the recordJuly 10, 1949
Under present economic conditions, we cannot immediately correct the tax mistakes of the past or the conditions which led to a lower level of national income and lower Federal revenues.
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presidency.ucsb.eduHarry Truman: “Under present economic conditions, we cannot immediately correct the tax mistakes of the past or the conditions which…”
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Special Message to the Congress: The President's Midyear Economic Report
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