Word: pay
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Dates: during 1970-1979
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...biggest dodge in the underground economy is carried out by people who may pay tax on part of their income but demand the rest in unreported cash, usually in convenient large-denomination bills. One sign of this trend is the fast rise in the number of $100 bills in circulation -some 382 million today vs. 267 million only three years ago. In addition to his regular job as a mechanic, Mike does bodywork on damaged autos in San Francisco for cash on the cylinder head and pockets $100 to $200 a month in undeclared income. Bob, a Santa Cruz, Calif...
...young woman has begun to make a small fortune on Wall Street by selling municipal bonds to doctors and dentists. They pay in cash from earnings they have not reported to the Internal Revenue, and there is no record of the bond purchases because they are so-called bearer bonds and therefore do not carry the name of the owner. Gambling casinos are surging in part because they are convenient places to spend cash. Says Albert W. Merck, a member of New Jersey's casino control commission: "A casino fills a fascinating function in an economy where there...
...their morality over the past several decades. The underworld has not moved over to us, but we have moved in its direction." The victims, of course, are the honest taxpayers, who will have to fork over more and more to carry the load of the connivers and chiselers who pay less and less...
Other potential candidates see a federal judgeship less as a prestigious and challenging job than as very hard work for low pay. Senator Charles Percy has privately remarked that he has had to offer, the job to ten people just to get one. Says U.S. Court of Appeals Judge Edward Allen Tamm: "Federal judges are working harder than they ever did in private practice, but they never get their heads above water." Worn down by the work load, comparing their salaries ($54,500 to $57,500) with the six-figure incomes of really successful lawyers, a discouraging number of federal...
...foods that tend to make runners sick should be avoided before races. The two walking books, both titled The Complete Book of Walking (Simon & Schuster; $10, and Farnsworth; $9.95), have been padded out with chapters explaining such obvious things as the need to wear well-fitted shoes or to pay attention to traffic while walking along highways...