Much of the testimony is likely to be heavy

Much of the testimony is likely to be heavy going for students. Taxation is not a light subject, but it touches every citizen—at his podcetbook—and deserves a calm and conscientious treatment Our hope is that, in this seminar, taking place while. Congress as a whole is in recess, we can obtain a little light, and not too much heat, on the problem of devising a more equitable mechanism for providing the required revenue of the Federal Government. Chairman Wilbur D. Mills of Arkansas, in announcing the tax hearing plans some months ago, made these comments: “The immediate objective of tax reform is reduction in tax rates without sacrificing revenues required for responsible financing of Government. At die same time, tax reform must seek, among other things, (1) a tax climate more favorable to economic growth; (2) greater equity through closer adherence to the principal that equal incomes should bear equal tax liabilities; (3) asurance that the degree of progression in the distribution of tax burdens accords as closely as possible w*ith widelyheld standards of fairness; (4) an overall tax system which contributes significantly to maintaining stability in the general price level and a stable and high rate of use of human material resources; (5) a tax system which interferes as little as possible with the operation