Word: namsters
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...Additional tax reduction is desired by everyone," said Under Secretary of the Treasury Marion Folsom, onetime treasurer of Eastman Kodak and longtime NAMster in good standing. "But taxes can be reduced further only as expenditures are reduced." Folsom saw little hope for big cuts in spending; in fact, said he, with the excess-profits tax expiring and personal taxes about to be cut, there was already the prospect of a $7.5 billion deficit next year. In view of that, the Administration would oppose the cut in corporate-tax rates (from 52% to 47%) and the elimination of some excise taxes...
Like many another NAMster Sligh thinks that government spending can be cut by more than $14 billion in the next year. Such a cut, accompanied by lower taxes, says Sligh, should bring no business slump. Says he: "The people have tremendous confidence, and confidence always breeds prosperity...
...promote this program, N.A.M. chose as its 1948 president Morris Sayre, 62, the tall, mild-looking president of giant Corn Products Refining Co. Like many another top NAMster, Sayre started his career at the bottom. After graduating from the University of Richmond and Lehigh University, Sayre went to work for Corn Products in 1908 as a $75-a-month boiler washer. He climbed the ladder rung by rung and never lost his modesty on the way. He likes to keep his door open to any one of his 5,000 employees who has a complaint or an idea...
When Hargrove finished, everybody swallowed and forced a polite smile. One gallant NAMster patted Hargrove on the head and said: "Don't-take it too seriously. This kid's all right. He's a good...
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