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...retired from the U.S. Navy, and he had quit spying for the Soviet Union. But he was miserable. Unemployed and living on his $1,200-a-month service pension, the former chief radioman kept house in an olive-colored trailer in Davis, Calif., while his wife pursued her Ph.D. in hopes of helping to support them both. He listened to classical music, yet it did not soothe him. Referring to his decision to stop dealing in Government secrets, he wrote to his spymaster boss: "I realize this doesn't fit in with your advice and counseling over the years...

Author: /time Magazine | Title: Very Serious Losses | 6/17/1985 | See Source »

...last week for the most ambitious overhaul of Britain's $51 billion-a-year welfare program since the cradle-to-grave system was launched in 1948. Some 20 million people would be affected, whether through tightening of the qualifications for a once-only maternity grant, eliminating a state-financed pension fund or restricting the $38 payment for funeral expenses to poor families. Special aid for the needy, housing benefits and payments to unemployed youths would also be axed. The foundations, the National Health Service and the basic old-age-pension system would not be touched by the proposals, which will...

Author: /time Magazine | Title: Britain: Assault on the Welfare State | 6/17/1985 | See Source »

...retired factory worker and his wife in Delray Beach, Fla. They have partially tax-exempt income of $18,000 from a pension and Social Security. In addition, they earn $2,500 in interest on their savings. The couple has no mortgage and no interest payments on autos or credit cards. They file a short tax form...

Author: /time Magazine | Title: The Changing Government Tax Bite | 6/10/1985 | See Source »

...York Governor Mario Cuomo gave the movement a big lift last week, proposing a bill that would require the state's pension funds to withdraw more than $4 billion now invested in stocks of U.S. companies that do business in South Africa. To help fund managers prevent sudden losses, the divestment would be phased in over five years and would initially not apply to companies that comply with a set of progressive employment practices known as the Sullivan principles...

Author: /time Magazine | Title: the Issue Has Caught Fire | 6/3/1985 | See Source »

...Tutu is telling Americans that "you're patronizing us, you're wrong. We know we'll lose jobs. We know we pay a price for this. But in the long run, we think it's good for us." In Los Angeles, Mayor Bradley ordered his city's $4 billion pension fund to get rid of $700 million invested with companies that deal with South Africa. He vowed to replace any pension fund commissioner who failed to carry out his directive. At the state level, Republican Governor George Deukmejian, who is also a University of California regent, did not commit himself...

Author: /time Magazine | Title: the Issue Has Caught Fire | 6/3/1985 | See Source »

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