Word: paycheck
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Dates: during 1960-1969
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Ever since the Federal Government adopted Financier Beardsley Ruml's ingenious invention of tax withholding back in 1943, the system has been about as unassailable as motherhood. Government officials love it, since paycheck deductions help disguise the size of the tax collector's take. Most taxpayers also approve of withholding as a relatively painless way of parting with their pelf. Only a non-politician of rare courage or naiveté-or both-would dare challenge it. Sure enough, a non-politician par excellence, California's Governor Ronald Reagan, did precisely that last week as he marked...
Delight & Risk. No man in the land gets a higher paycheck than the middle-ager. The average age for incomes of $10,000 to $15,000 is 47, for incomes of $15,000 and up, 51. This makes delayed pleasures possible. A man may have been sports-car minded for years, but when he climbs behind the wheel of a Mustang, his average age is 48. With no small children underfoot, husbands and wives discover the pleasures of each other's company, share convention trips, take that second honeymoon to Europe...
...more. Under their U.S. Government cost-plus fixed-fee contracts, RMK-BRJ's wage scales are pegged at 1957 levels; machinists start at 20? an hour, laborers 8?. Since the cost of living has zoomed 64% in the past 15 months, the glow of the U.S. paycheck has dimmed...
...joys and hazards of retirement, the bad side of the "good old days" in the early-20th century U.S. Why, one contributor asks, are workingmen rarely portrayed in any television dramas? "The deep thinkers who arrange things on the home screen," he wrote, "have somehow made the whole paycheck populace disappear. Automation at its deadliest couldn't possibly be more thorough...
That 4.2% slice comes out of every paycheck until the wage earner has paid the legal maximum of $277.20 ($103.20 more than last year). Thus the more a man makes, the bigger will be the amount withheld from his paycheck at the rate of 4.2% but the sooner the bite will end for the year...