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Image courtesy of the Lyndon Baines Johnson Library and Museum.
Image courtesy of the Lyndon Baines Johnson Library and Museum.
I Know I Said 6%...
Image courtesy of the Lyndon Baines Johnson Library and Museum.
Image courtesy of the Lyndon Baines Johnson Library and Museum.

I Know I Said 6%...

Artifact ID1973.1.859
Object Type Cartoon Drawing
Publisher (founded 1901)
Date ca. August 1967
Medium Ink and applied shading on illustration board
DimensionsOverall H 15 in x W 17 in (38.1 cm x 43.2 cm )
Physical Description
Physical DescriptionOriginal cartoon drawing. LBJ, holding a hypodermic ("10% Tax Hike"), sits on the back of a man ("The Economy"), holding him down. Caption: “I Know I Said 6%, but This Will Make You Even More Well.”. Artist signature lower left: "CP Houston Houston Chronicle”.
Inscriptions and MarkingsHandwritten at upper left: [blue] "To the President of the United States with highest regards-Clyde Peterson (C.P. Houston)". Handwritten at lower right: “8/22/67” [illegible]. Handwritten at lower right: [circle] “445”.
Historical NoteWhen Lyndon B. Johnson signed the 1964 Revenue Act that decreased income taxes and refused to raise taxes, spending by consumers and businesses increased. Along with government spending from the Vietnam War and Great Society, all of this increase of demand led to inflation. Raising taxes would decrease inflation. In January 1967, Johnson pushed for a 6% surcharge on income taxes. In August, this request increased to 10% and it was later passed in June 1968 as the Revenue and Expenditure Control Act of 1968.
Additional Details
Custodial History NoteThe item was a gift from the general public to President Johnson during his term in office. It was received by President Johnson, until the President donated it to the Lyndon Baines Johnson Library and Museum in 1973.
Credit LineGift of Lyndon Baines Johnson
National Archives Catalog CollectionLyndon B. Johnson Library Museum Collection (National Archives Identifier 192413)
National Archives Catalog SeriesGifts from the General Public (National Archives Identifier 189698395)
Use Restriction StatusRestricted - Fully
Use Restriction NoteCopyright or other proprietary rights are held by individuals or entities other than the LBJ Presidential Library and Museum. The LBJ Presidential Library and Museum does not warrant that the use of materials will not infringe on the rights of third parties holding the rights to these works, or make any representations or warranties with respect to the application or terms of any international agreement, treaty, or protections that may apply. It is your responsibility to determine and satisfy any copyright or other use restrictions. Pertinent regulations can be found at 36 C.F.R 1254.62.
Person Referenced Lyndon Baines Johnson (United States, 1908 - 1973)
In Collection(s)
Not on view
Subjects
Taxes
Place of Publication
Houston
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