Word: pay-as-you-go
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Though the whole process was one of mute foreboding, like a visit to a dentist or a piano teacher, the average citizen held still for the frisk and sometimes even managed a wan smile. By dint of withholding and pay-as-you-go plans, the government usually had his tax money by March anyhow. And this year, because of tax law changes in 1948, he could experience a temporary and spurious elation-of approximately 50 million taxpayers (5,000,000 fewer than last year's record total), 80% would get rebates...
...passenger bait, Alleghany Corp.'s Robert R. Young in January began offering travelers a pay-as-you-go service on the Chesapeake & Ohio, complete with credit cards like those in use by airlines. Last week, 35 other roads announced that they would provide the same service, starting in April...
First: clear away "the rubble of the war and the New Deal"-which meant straightening out finances, putting government on a pay-as-you-go basis...
Died. Guy Tresillian Helvering, 68, square, ruddy U.S. district court judge and Democratic party chairman for Kansas; from 1933 to 1943 (two years longer than any other man), Franklin Roosevelt's Internal Revenue Commissioner, under whose regime the pay-as-you-go tax plan went into effect; after a series of operations; in Washington...
...world's biggest department store chains last week promoted one of the world's biggest and best idea men. Into the board chairmanship of Manhattan's R. H. Macy & Co., Inc., went ebullient, 240-lb. Beardsley Ruml, father of the pay-as-you-go income tax, the Ruml-Sonne tax plan, etc., and longtime Macy treasurer...