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THE PRESIDENT HAS SEEN NEWS SUMMARY September 14, 1973 (Thurs. nets, wires, columns) The major stories of the day: RN's trial balloons on increased taxes to slow down inflation flexible tax credit or 10% tax surcharge -- led all nets. Laird on film on all nets, explaining on ABC/CBS that tax collected when taking dollars out of economy would be refunded 2-3 years later. ABC NBC noted Laird called plan a deferred tax. ABC/NBC noted WH is trying to share some of the blame w/Hill for what Jarriel called "unpopular, inevitable" act. On ABC/NBC film Laird said if Hill holds to budget ceiling, no new taxes will be needed but that otherwise Admin considers it "very important to maintain revenues and expenditures" in balance. ABC said balloon was "punctured" by heavy Dem fire even before proposal reached Hill. Negative Hill reaction on all nets w/Long on all saying he wasn't about to support it, particularly not til RN actually recommended it and presented it to Hill. Other negative reaction from Ullman (NBC), Reuss (CBS), McG, Prox, and Jackson (ABC). Chancellor called it "1 of the largest roundest trial balloons seen in DC in a long time. 11 Pierpoint pre- dicted it "won't come down for a long time, if ever. 11 "Surprise story" was Chancellor's term for tape compromise suggested by Appeals Court (all nets noted) -- that RN-Cox together examine tapes to determine relevance to grand jury inquiry. Cronkite called it an "obvious effort to avoid constitutional showdown. 11 Court gave parties til Sept. 20 to see if out-of-court settlement could be reached while assuring that arrangement wouldn't subvert principle of exec privilege and that unanimously-voted suggestion doesn't mean Court's reached decision. But Stern guessed Court's trying to signal RN he won't be happy w/ruling, reasoning that it's unlikely suggestion would have been proposed if majority favored RN's position. All nets noted Mitchell's joined tape case w/lawyer requesting subpoena for all WH tapes, memos, notes pertinent to case. WH wants any such subpoena quashed. ABC /NBC(film-CBS. note) of what Chancellor called EMK's "strongest statement so far" on tapes that RN must comply w/Supreme Court ruling and that should RN not, Hill will have no recourse but to begin impeachment. EMK called it "put up or shut up" time for Hill, otherwise RN action will have the effect of "bloodless coup -- Chile w/out the bloodshed."