Word: ruml
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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...
Died. Beardsley Ruml, 65, economic idea man who thought up the pay-as-you-go tax plan, got it accepted by a reluctant Congress in 1943 with the support of much of the press and, according to a Gallup poll, 83% of the nation's rich, 86% of its poor; of a heart ailment; in Danbury, Conn, on the day U.S. taxes became due. After a lively term as dean of social sciences at the University of Chicago from 1931 to 1933. Ruml became treasurer of Macy's, overhauled its accounting system. Some of his ideas found their...
...Other committee members: Chairman of Harvard's Economics Department Seymour Harris, Economist-Educator Beardsley Ruml, and Economics Professor Walter Heller of the University of Minnesota...