Cole on Tax Reform Act of 1969 and Small Business Administration

2:45:53And I think it's fair to say I don't understand any of it.
2:45:58I don't know what he's talking about.
2:46:07Ain't fair, ain't made, ain't...
2:46:10Nothing do I understand.
2:46:14If I don't brown and distill...
2:46:19where AA contracts would be used to improve black and black.
2:46:25And basically, the SBA didn't think much of it.
2:46:28It was kind of something that Brown shot out, and Brown then sent a memo to you.
2:46:35And I sent it to you.
2:46:38You sent it to me, and I said to Bear, Bear sent this back.
2:46:45What's it mean?
2:46:48I think it means that it's not a good idea to do what Brandon wants to do.
2:46:54Have you talked to Nate about it?
2:46:57No.
2:46:57What about having a talk with him about it?
2:47:02What's the status of that thing?
2:47:31Well, do you have an outstanding request from Coles and Coves to provide us with some information on the Tax Reform Act of 1968?
2:47:4169?
2:47:41Or 69?
2:47:41Yeah.
2:47:43Yeah, I must have talked to them.
2:47:4489 people about that.
2:47:4689 people about that.
2:47:51What?
2:47:51Well, they keep calling me now for how come they can't get the information.
2:47:54Because I haven't given them a tour.
2:47:58What they want is, they're still back on this thing about who voted for what, and there is nothing there.
2:48:07This whole thing arose out of a conversation that I had with Ed Cohen, who said, hey, wouldn't it be great if we could put something together that indicated who voted for what amendments and what processes during deliberations, right?
2:48:21So I said that it's great to get people working on it.
2:48:24I mentioned this to you and John, and I think that got back to Colson, and pretty soon I have a memorandum from Colson saying, where is this stuff?
2:48:32It came out nothing.
2:48:33Well, how come we can't communicate to them?
2:48:36I have indicated that to Carolicus on 81 occasions.
2:48:42Okay, do you have some papers that show that it came out nothing?
2:48:52I have some papers, they don't show anything.
2:48:54How do we know it came out nothing?
2:48:56Because if you go through all of this, that's how it comes out.
2:49:01Why don't you send them all of that, or copies of all of that?
2:49:04I have a hesitancy about doing that, because an untrained guy might look down and see that so-and-so voted no on some technical amendment, which really has a reverse effect of what is a very technical thing.
2:49:19Unless you've got somebody who goes through it with you.
2:49:21And that's why I haven't sent it to them.
2:49:26Because the first thing we know, just as I've seen other things happen, it's been leaked to the Washington Post, and we've got our pants down.
2:49:35If somebody, either you or one of your early guys, takes some time to go through it, I mean, I don't know who it is, or gives Dick Howard a call on Carolina to talk to Trane,
2:49:48and go through this with them and explain exactly what the situation is, why there is a trap, why nobody thinks it ought to be pursued.
2:49:59It would be good just to get it shut off, if that's what the situation is, if that's what it goes for.
2:50:06They're going to wind up doing it themselves.
2:50:08I mean, that's where they are.
2:50:10I wish they would, because they wouldn't.
2:50:13Well, but then they'll really get it wrong.
2:50:16I mean, I understand what they will think, but then they'll really get it wrong.
2:50:20I told them the other day, you know, if you guys think you're smart enough to figure it out, why don't you go try to figure it out, then go review it with Lou.
2:50:27But I said, better yet, let me talk to Lou before you start.
2:50:32You know, if you can talk with Chuck or...
2:54:05For any of those who wondered what happened to the media plans that you did, they are being reviewed by John, and my guess is that they are a subject of John's, one of the subjects for John's conversation this weekend.
2:54:29This guy's gonna tell us a little bit about his home, where he lives.
2:54:32I live so hard to see his house.
2:54:34What was the kind of reaction when you brought him back?
2:54:39It was a good time.
2:54:42He had a great driver.
2:54:43He didn't need a car.
2:54:47He was standing at the same time.
2:54:49He was standing at the same time.
2:54:51He was out on the palace.
2:54:55The palace and dancing girls.
2:54:58Great job.
2:54:59What do you want me to do?
2:55:22And then we talk directly with the press guys.
2:55:25Ramlin will be popping out as soon as the pilot bombs.
2:55:27She's a little brighter than this press guy, and she knows what's going on.
2:55:31But they have no idea what a press line is.
2:55:35John, at some point, was the investor, trained, heard from press people, and just chewed ass.
2:55:42And we'll recall some of the guys as you can get them.
2:55:47The first person to learn to be involved is ready to recall others.
2:55:51Well, they're really starting to figure out that we care about the painters back here.
2:55:57Well, they're doing everything to get us tattooed on this guy's head, and I hope so.
2:56:06You know, we were getting a great play in Rome, Paris.
2:56:39Well, they stopped screwing.
2:56:41They said they would.
2:56:42They're waiting until the governor makes his drop-by.
2:56:46They're a little bit like that.
2:56:49Everybody gets in there.
2:56:50The ambassador's over here.
2:56:54Honored to be a Colombian.
2:56:56I see his way out of the SEC.
2:57:00He's not there?
2:57:01He's not.
2:57:02He's on the job again?
2:57:03Well, he wasn't there the first three days.
2:57:16This is going to be primarily a butt-kicking rule.
2:57:20They'll run around Rumpelstiltskin County.
2:57:23Everybody that was in the SST rarely has a man with a mantle.
2:57:28They were a little too soft in the SST.
2:57:29They're supposed to be in a position to jump around, straight around.
2:57:36And what about you being in their... Really?
2:57:37In their SSC, in what?
2:57:39Well, they're gonna fire on us while I'm still available.
2:57:41Yeah, but it's a comprehensive question.
2:57:43In what form does that come up?
2:57:45That comes up in a lot of committees.
2:57:47In the resolution.
2:57:51Yes.
2:57:53And, you know, it's a real lesson, it's a real lesson for these Congressmen, because all these guys, every day at 8.30 in the morning, the embassy, all these guys, the whole delegation sitting here on the table, across from the President's house, the train, down to the base line, the environment, you know, so they're sitting there talking, and they all agree on a position, and all of a sudden, look at John.
2:58:11You know, he just kind of looks over his left and says, I don't think that's where the President is, and all these Congressmen are looking around and saying, what's going on, you know?
2:58:23Okay.
2:58:24What else?
2:58:30I've had heart failures since these are pills.
2:58:53We have two members of the domestic council, 50,000 and up on it.
2:58:55Wow, we were on that earlier.
2:58:59We were on that earlier.
2:59:02Oh, I like them.
2:59:03They tag me, man.
2:59:06Of course, it broke the closing arm, didn't it?
2:59:10That's the kind of a weird thing.
2:59:14It's almost a third down.
2:59:17It broke the middle.

Cole on Tax Reform Act of 1969 and Small Business Administration

AI Summary

Audio

Transcript (AI-generated)

NARA Description

Nixon Library Finding Aid

Also recorded on May 30, 1972

Cite this conversation