Word: epical
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Dates: during 1930-1939
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Immediate Epic. Left to his own poliical devices, Nominee Sinclair began a behind-the-hand campaign to assure his loyal following that EPIC was still there. He brought out another pamphlet called Immediate Epic. Still intact on the back cover was original EPIC...
Aware that his CAM bond issue was hopeless at this time, Nominee Sinclair proposed, instead, to levy a tax on industrial corporations and utilities to raise ''$5,000,000 or $10,000,000" to prime his EPIC pump. He proposed to go to a man with an idle dress factory, for example, rent his plant for tax-receivable paper for three years, retaining the executives at their old salaries. Unemployed would be put to work making dresses for other unemployed, who would in turn be set to work as soon as possible in other factories...
After three years the State was to vote on EPIC's retention. If the vote was favorable the hired factories would be bought outright by the State. That it would be favorable, Mr. Sinclair had no doubt, since he believes Depression will then be as bad as ever and ''workers would soon be clamoring to enter our system...
...revived Sinclair EPIC, rising from the ashes of the Democratic convention, drove his opponents to fresh despair while his naïve economic reasoning infuriated them. To them, there seemed to be no effective way of bridling this evangel of nonsense. What Mr. Sinclair proposed to do, as they saw it, was to plant a system of Red State-ownership in California, expand it, without limit, until it crushed private enterprise. EPIC, Mr. Sinclair pointed out, could also stand for "End Poverty In Civilization...
...initiate any legislation, all that is required is the mandate of 8% of the voters in the previous election. Mr. Sinclair, his eye already on this device, estimates the required number at 160,000, which he can drum up in a week by ordering each of his 1,000 EPIC clubs to get the signatures of 160 voters. He is confident that any majority which would elect him would support any legislation he may choose to write into the statute book by means of the initiative & referendum. California has a strong tradition of passing important laws by the mandatory referendum...