Word: demands
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Dates: during 1950-1959
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...economist named Colin Clark has been studying high-tax countries (of which his is one). He finds that the effect of taxes changes when the tax bite rises above 25% of the national income. Taxation has always been considered deflationary, i.e., it saps up "excess purchasing power," and keeps demand from exceeding supply. Beyond 25%, however, Clark thinks that the tax bite is inflationary. The number of dollars in the national income increases faster than the amount of goods. Prices go up. If taxes do not fully cover Government spending, prices go up even faster. At present...
When money is left in the hands of the people, part of it is invested in productive improvements that can make more of the things that people use. But money that goes to the Government, especially beyond Clark's 25% limit, adds to the demand for products far faster than it creates the means of making more products. The clam in the aquarium is no longer performing a service; he is eating what the fish need...
...neutral," and to recognize her as such would be to give her a legal foothold in South Korea; the U.N. had gone quite far enough by its willingness to accept as neutrals the Soviet stooges, Czechoslovakia and Poland. But the Communist negotiators stick stubbornly to the demand, even though the U.N. has said (in its bluntest words yet) that its position is "firm, final and irrevocable." Even if this issue can be settled, there remains the question of exchanging prisoners, and of permitting North Korea to build up airfields during the truce...
Steamroller. Many U.S. newsmen and politicians who have followed the course of the U.S.'s well-intentioned reach for international press agreements, now demand the U.S. wash its hands altogether of further attempt to legislate press freedom.* But the State Department, Binder and others argue that the U.S., trapped, now has no choice but to go on. It must stay in the fight and try to kill the restrictive convention or it will be steamrollered through, virtually unopposed...
...Providence Journal & Bulletin, and the Christian Science Monitor's Editor Erwin ("Spike") Canham, won enough supporters to get their "Newsgathering Convention" tentatively approved. But to do so, they had to bargain. Among the 55 countries attending, many wanted a clause giving a nation the right to demand corrections of erroneous stories. Unwisely, the U.S. agreed. One government might send a "correction" to another and it would be required to pass along the correction to its press, though the newspapers could decide for themselves whether to print it. But the clause was the beginning of a chain reaction of proposals...