Reagan dangles big tax cuts

Press, 10 April 1980, Page 8

Reagan dangles big tax cuts

NZPA-Reuter Washington The candidate for.the, republican Presidential! nomination. Mr Ronald- Reagan, said yesterday that,;he would try to cut all tax rates by at least 30 per cent over three years if elected. . \ j In a speech prepared for] delivery to: the American; Society of Newspaper Edi-| tors, lie said he would also] tell the monetary auUioritiesi to do whatever was. neces-] sary to stabilise the'United' States dollar. “I would tell our monetary authorities that thev have only one job: to restore: and maintain a sound dollar 1 at home and abroad,” -Mr| Reagan said. “They would’ be! directed to create as few or I

ii.as many dollars as it will • take to stabilise the value of ■ What a dollar will buy.” .'i '-JVIr Reagan said tax cuts . helped the economy, rather ‘than adding to inflation. i '“My goal would be to cut i the tax rate of all American's by at least 30 per cent ■over three years.” he said. i .) He-would ask Congress to ’widen the tax brackets each .year to take into account j the effects of inflation. i. Corporate tax rates should also be adjusted for inflation by allowing businesses to account for the true cost of ’ replacing their plant, equipintent, and inventories. j , Mr Reagan also called for Ethe abolishment of Federal [gift and estate taxes.