Word: branco
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...much about Brazil's endemic sin of inflation. In one 31-month period, the cost of living soared an astronomical 340%, and in 1964 alone, the year that free-spending João Goulart was thrown out, it was heading up 150%. Yet when President Humberto Castello Branco took over, he confidently vowed to achieve stability in just two years...
With the strength of his army behind him, Castello Branco upped tax collections, chopped subsidies, tightened credit, slowed down the currency printing presses. For all his efforts, living costs under his regime have soared no less than 117%, and he himself has had to double the official minimum wage level. Last week bus fares in Rio rose 40%, and hordes of favela dwellers began getting up hours early to walk to work. Since Castello Branco took over, the price of meat has gone up from 400 cruzeiros per kilo to 1,900, black beans from 180 to 950, rice from...
Last week, in another Draconian attempt to curb the pressure on prices, Castello Branco decreed that no union may be granted more than one wage boost a year-a blow to organized labor, which has been getting multiple raises yearly. By such stubborn measures, Castello Branco and his able Minister of Planning, Roberto Campos, at least hope to hold inflation this year to a mere 35%-which, if it can be done, will indeed be a miracle of sorts...
Exterior Signs. It is now. Aware that unbalanced government budgets were a key factor in Brazil's rampaging inflation, President Humberto Castello Branco and his revolutionary military regime rammed through a tough universal income-tax law that set realistic tax rates* streamlined the archaic collection system, made tax dodgers liable to two years in prison. In to run the operation moved Orlando Travancas, 47, a reform-bent tax official who has weeded out dishonest inspectors, set up a school to train new ones, and installed ten computers to keep track of returns...
Adhemar was intent on installing his own man, but Castello Branco picked out Abreu Sodré, a reform-minded São Paulo lawyer, for the Governor's job. Since the election was to be decided by the state legislature, where the revolution held a bandwagon majority, Adhemar's only hope was to woo the assemblymen's votes, and he went about it with all the fury that money and patronage could buy. He handed out 13,000 state jobs in five days, sometimes nominating as many as three people to the same position. And when Castello...