Word: lawing
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Dates: during 1950-1959
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...announcer read a communique signed by Lieut. General Ibrahim Abboud, chief of staff of the 10,000-man Sudanese army. He was taking over the 1,000,000 square miles of the Sudan, said Abboud, to end governmental corruption and chaos and to restore peace and order. Declaring martial law, Abboud shut down all newspapers, banned all political parties and public assemblies or demonstrations. Using almost the identical words of General Ne Win and General Ayub Khan when they seized power in Burma and Pakistan, General Abboud insisted: "I am not a politician. I have been busy with military matters...
...Today, salaries and taxes are still computed in bags of rice, and on this basis a worker earns 300 bags a year, while his counterpart in non-Communist South Viet Nam gets the currency equivalent of 1,500. In Hanoi, rice is still rationed, and beggars, though forbidden by law, swarm the streets. The dong has sunk so low-7,000 to the dollar-that it may well be the worst currency in the world. Even sister Communist countries refuse to accept it, and North Viet Nam's trade with them is through barter. Last week at long last...
...life insurance companies moved a step closer toward accepting a permanent formula for totting up-and increasing-their federal tax bill. The companies (in which 109 million Americans have policies with a face value exceeding $458 billion) last year paid $292 million, based on a stopgap law that levied the regular 52% corporate income tax on up to 15% of their net investment income. Industry executives who jammed the committee room for hearings last week heard Rep. Wilbur D. Mills (D. Ark.), chairman of the House Ways and Means Subcommittee on Internal Revenue Taxation, indicate that the present...
Since 1921 both mutual and stock life insurance companies have been taxed on their investment income (the money they earn from investing policyholders' premiums in bonds and mortgages), not on their underwriting income (the money received from premium payments that does not go into reserves). The 1942 tax law still on the books follows the investment-income principle of taxation. It was suspended and stopgap taxes levied because it allowed such high reserve requirements out of investment income, at a time when interest rates were declining, that in some years the industry was paying no tax at all. Taxing...
...Sugar Bowl has been searching for an opponent for top-ranked Louisiana State in the New Year's Day football game. The sports segregation law narrowed the field to a handful of teams. Among them was the Air Force Academy, which frowned on the sports segregation law and all but eliminated itself from consideration...