Word: excessive
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Dates: during 1950-1959
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SURPLUS SALES ABROAD will be speeded up under a new farm program being pushed by the Department of Agriculture. Although farm exports in 1954 totaled $3 billion (7% higher than in 1953), Secretary Ezra Taft Benson is studying the possibility of selling excess farm commodities to Russia and her satellites. Another idea: to sell a big chunk of the 185 million Ibs. of butter surplus (down from 460 million Ibs. last year) to foreign nations for industrial use in bakeries and candy factories...
Treasury Secretary George Humphrey also was not impressed by the present program. Labeling the write-offs "an artificial stimulus of a dangerous type," Humphrey asked the subcommittee for a sharp reduction in the use of special tax incentives. When the program began, said Humphrey, the excess-profits tax took up to 82% of corporate profits. But the excess-profits tax has ended, and continuation of rapid write-offs could prevent tax reductions for all taxpayers. In 1955 alone, said he, the Treasury will lose $880 million because of the write-offs...
...submarine reactor at West Milton, N.Y., will drive a 10,000-kw. generator, supplying enough electricity to STVC a city of 20,000. Cost to Mohawk: 3 mills per kwh, about the same, as paper mills and shoe companies, which have small hydroelectric plants, charge local utilities for their excess power...
Well organized, well led, 600,000 members of the United Steelworkers Union last week won a wage increase of "something in excess of" 15? an hour. Class 1 workers, e.g., sweepers, will henceforth get $1.68½ an hour; Class 32 workers, e.g., hot strip mill rollers, will get $3.54½ an hour. The new average will be about $2.50 an hour. "This raise is money ahead," exulted a steelworkers' leader. "Our men won't keep it. They'll buy more TV sets and automobiles. It will be a terrific shot in the arm for the economy...
Many sea passengers were suddenly confronted with expensive excess-baggage fees on the planes. Far more tragically stranded were hundreds of outward-bound British emigrants, many of whom had sold all they possessed and spent a futile fortnight fighting their way across a strikebound country only to come to a full stop at the gateway. Short of funds in the emergency, many signed on at the Labor Exchange for temporary jobs...