Word: budgeted
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Dates: during 1930-1939
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Object of this, the largest conversion campaign in British history, is to keep taxes down and the budget balanced by saving the British Treasury $100,000,000 a year in interest charges (TIME, July n). To get Britons to give up their 5% bonds for 3½% the Government undertook a tremendous financial operation. Short term money rates were reduced to startlingly low levels. Other outstanding 3½% bonds sold at 85 in early May while the new 3½% loan sells at 97, represents an immediate loss of 3% for all who converted...
...last December, he found himself second only to Chairman Collier of Mississippi on the Ways & Means Committee. When Chairman Collier fell ill and withdrew to recover, Mr. Crisp stepped into the committee's acting chairmanship at a most difficult time. Taxes had to be raised to balance the Budget. Upon him fell the unpopular responsibility of drafting a billion-dollar revenue bill and pushing it through a balky House. He voted for: Declaration of War (1917), the 18th Amendment (1917), Volstead Act (1919), Tax Reduction (1924, 1927), Restrictive Immigration (1924), Soldier Bonus (1924), Reapportionment (1929), Farm Board (1929), Bonus...
Taxation: "We advocate maintenance of the national credit by a Federal budget annually balanced . . . within revenues raised by a system of taxation levied on the principle of ability to pay." The phrase "ability to pay" is a meaningless political weasel used to avoid taking a definite position on such hot issues as the Sales Tax, a broader income tax or higher surtaxes...
...Appropriations $184,000,000 less than Budget estimates...
...urged to save $5.000,000 by closing the schools five weeks next term. This proposal was not carried out, nor is it likely that the Board will cut salaries. But such talk tired the teachers, who were already fed up with trying to live without pay. Impatient at endless budget squabbles involving academic millions of dollars, last week Chicago's school teachers demanded action. They declared war upon the people who they feel are responsible for the trouble, Chicago's non-taxpayers...