The Congress might well consider whether the higher rates of income and profits taxes can in peace times be effectively productive of revenue, and whether they may not, on the contrary, be destructive of business activity and productive of waste and inefficiency.
Wilson questions the effectiveness of high income and profits taxes during peacetime, suggesting they may hinder economic growth.
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Actual relief can come only from the adoption of constructive measures of a broader scope, from the restoration of peace everywhere in the world.
If there ever was a time when America had anything to fear from foreign competition, that time has passed.
I herewith call your attention to an agreement with Belgium made by the British and French Premiers and myself.
Clearly, this is no time for the erection here of high trade barriers.
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