Word: mahoney
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...still considering thousands of claims for rebates. As a result, the apparent $40 billion yield of World War II's tax may ultimately dwindle to half-without counting other hidden billions "thrown away" in padded costs. The proposed new tax of Wyoming's Senator Joe O'Mahoney (an 85% levy on all profits above a 1946-49 base) is touted to yield $2.7 billion on 1950 profits. But even O'Mahoney admits that subsequent claims might easily whittle that figure in half. Thus, an 85% excess profits tax, which has the political virtue of sounding huge...
...Face of the Future. In Portland, Me., when Robert B . Boyle told the court he was going to be married in five days, Judge Edmund P. Mahoney suspended Boyle's $3 fine for traffic violation with the comment: "You will probably need all your spare money...
Like the blind men who tried to describe an elephant, few agreed on the meaning of Congress' bill to legalize a form of basing point pricing system for U.S. industry (TIME, June 12). The bill's author, Democratic Senator Joseph C. O'Mahoney, no friend of big business, insisted that it would permit U.S. industries to absorb freight charges (if done "without collusion") and thus help competition and the consumer. Other Administration supporters, notably Illinois' Senator Paul Douglas, denounced the bill as a scheme to stifle competition...
...they did not conspire to fix prices. Seizing this argument, President Truman at week's end vetoed the bill. "It is quite clear," he wrote, "that there is no bar [at present] to freight absorption or delivered prices as such . . ." Though his bill was killed, Senator O'Mahoney, a master of political agility, greeted the President's message as a victory. "[The veto message] says," he stated, " 'fear not when acting individually, you can sell at delivered prices and you may absorb freight...
Last week, after nearly a year of wrangling, Congress made an attempt at clarification. The Senate passed a compromise version of a bill introduced last summer by Wyoming's Democratic Senator Joseph C. O'Mahoney (TIME, June 13), and sent it to the President. If Harry Truman signed it, the bill would, in effect, reverse the Supreme Court's cement decision. It would permit freight absorption, provided that prices 1) are independently arrived at and 2) do not eliminate competition. More important, the bill would take business off the defensive. Where the burden of proof now lies...