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Psychological Trick

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Last Wednesday night consumer crusader Ralph Nader had this to say about President Nixon's latest economic stunts: "The President's economic policy amounts to a giant Christmas gift for industry that he hopes will somehow drift down to the working man."

Nader said that the 10% hike in the price of imported goods will "particularly hurt poor people accustomed to buying lower-priced foreign-made products. The Nixon policy to cure the ailing dollar is really a psychological trick since it's wholly unenforcable. It's enforcement would make Prohibition look like kindergarten.

"Why is there no freeze on profits? Why is there no freeze on interest rates? Why are tuition fees in some areas allowed to go up even as the freeze is in effect?" Why indeed.

Nader goes on to say: "An economic plan designed more sincerely to help the consumer would cut taxes at the lower levels, impose stringent profit taxes on industry, and apply more strictly to anti-trust laws." Right on Ralph!