In testimony today before the House Ways and Means Committee, prominent economists from across the political spectrum testified against an immediate cut in income taxes.
An economist testified yesterday that Dr. Veronica Prego could have earned more than $30 million in a normal career as a doctor if she had not been stricken with AIDS.
Congress's chief economist testified today that leveraged buyouts and other measures that increased corporate debt were an important factor in the Government's receiving less tax revenue from corporations than had been expected.
Leveraged buyouts lowered tax receipts from corporations, Congress's chief economist testified.
An economist, Robert W. Johnson, called by Mrs. Frankson's lawyers, testified that Brown & Williamson's annual profits exceeded $500 million.
The Agriculture Department's chief economist, Dr. Keith Collins, also testified on Wednesday.
An economist who is a witness for her testified today that her break with the station resulted in lost lifetime earnings of $4.43 million.
But Joshua M. Wiener, an economist at the Brookings Institution, the research organization, testified that without such protection, "the buying power of most policies erodes dramatically over time."
Prominent economists will testify at the hearings later in the month.
In a lawsuit seeking to hold gun manufacturers liable for shootings with illegally obtained handguns, an economist testified yesterday that the plaintiffs' main contention was based on flawed statistics.