Word: pay-as-you-go
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...Opposes Pay-As-You-Go...
Government tax experts, mulling how to keep on a pay-as-you-go basis, guessed that at best only $3 to $5 billion more can be raised by an excess-profits tax. Raising the 45% corporate-profits tax to 55% could squeeze out another $4 billion. Where to find the remaining $11 billion? Nowhere but in the pockets of individual citizens...
...budgets, i.e., ten to 15 years of wars or preparation for The War. While Taft was not yet ready to approve all the controls the President demanded, he had a stern formula of his own. He wanted Congress to impose higher taxes to put the nation on a pay-as-you-go basis right away. His suggestion: a 25% increase in income taxes...
...provide increased payroll deductions beginning in 1956. But the issue which seemed revolutionary in 1935 last week did not even start a cloakroom argument. If there was objection, it was that the coverage was too spotty; Republicans and Democrats agreed on a $25,000 study of a future pay-as-you-go system that would cover every American over...
...biggest-and among the oldest-of the noncontributory plans are those of the Bell system-A.T. & T. and its subsidiaries-which roll sickness, accident, disability, death and pension benefits all into one jumbo package. Bell started the plans in 1913 on a pay-as-you-go basis, but in 1927 started setting up a reserve fund for pensions ("funding") because it thought the method sounder. (A.T. & T. now has more than $1 billion in its pension funds.) In computing Bell pensions, an employee's length of service is taken as a percentage (e.g., 20 years = 20%) and multiplied...