Word: soaks
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...real test of how devaluation will serve Mexico is whether the government is now able to take the next difficult steps that are required, i.e., balance its budget, tighten credit, soak up idle money by higher taxes. If the government can do this, a new and sounder peso-at perhaps six or seven to the dollar-may be established. If so, Mexico may be one of the first Latin American nations to wring the water out of its economy and get down to sound living...
...soak-the-rich tax program with total exemptions for poorer classes...
...afternoon winds ceased to cloak the city with powdery dust from the fields outside. In many a village women got ready for the first family wash since the village brook dried up last fall. Men stuck out their tongues to taste the rain,'or stood watching it soak into the parched earth...
...rightist" by some U.S. journalists, his program would be too radical for most U.S. citizens. He has proposed: 1) nationalization of heavy industry, mines, forests, utilities, banks and transportation; 2) redistribution among small farmers of large estates and confiscated Japanese lands; 3) a planned economy; 4) a soak-the-rich tax program with total exemptions for poorer classes...
Voluntary Conformity. To the Labor Government, however, the new tax was not only an attractively easy way of raising a lot of money, but a soak-the-rich sop to trade unionists whom it has asked to accept wage freezes (TIME, Feb. 16). Fortified by Marshall Plan aid, which Cripps hailed as "a light and hope to the freedom-loving peoples of the world," Britain's Socialist Government felt that it was safely over some of the political rough spots, too. Russia's grab for Europe had rallied even most left-wing Laborite rebels behind the government...