Bravo Gerald Ford! Bravo Jimmy Carter! Their "rare bipartisan effort," as The Times calls it, is most commendable. But it doesn't go far enough. Besides increased taxes on cigarettes, alcohol and gasoline, a luxury tax should be imposed on expensive automobiles, yachts, houses and travel. Someone who can pay $500,000 for a house, or a person who pays $50,000 for a trip around the world, can surely afford to pay a relatively small additional amount.
If Bush doesn't like the word "tax," let him call it a "surcharge" or whatever. The greatest country in the world cannot afford to have the greatest federal budget deficit!