Word: stopgaps
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Dates: during 1950-1959
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...life insurance companies moved a step closer toward accepting a permanent formula for totting up-and increasing-their federal tax bill. The companies (in which 109 million Americans have policies with a face value exceeding $458 billion) last year paid $292 million, based on a stopgap law that levied the regular 52% corporate income tax on up to 15% of their net investment income. Industry executives who jammed the committee room for hearings last week heard Rep. Wilbur D. Mills (D. Ark.), chairman of the House Ways and Means Subcommittee on Internal Revenue Taxation, indicate that the present...
...from competent to questionable. School financing is by private donations. Last week Attorney General Bruce Bennett promised that each student forced to transfer to an accredited public or private school could draw perhaps as much as $172.66 in state funds for tuition, but accreditation of Little Rock's stopgap schools seems doubtful...
...economists consider stabilization plans only short-term, stopgap methods of straightening out world markets, are convinced that they are as harmful as farm price supports-and will work no better in the long run. Says Simon D. Strauss, vice president of American Smelting & Refining Co., the world's largest smelter and refiner of lead, zinc and copper: "Such agreements, in the short run, would restore order to the market. But, for the long run, metals restrictions are useless. They usually protect the weakest, least efficient party to the pact...
Change in Fortune. For Harold Macmillan himself, the trip to Paris was one more indication of a change in his own personal fortunes. In his first year in office, after inheriting Sir Anthony Eden's debacle at Suez, he was regarded by many as a stopgap Prime Minister, grabbed out of the Edwardian era. His debonair manner annoyed as many as it pleased. Three months ago, scarcely a Tory could be found who looked upon his party's future with anything but dread. Insiders respected Macmillan's parliamentary skill, but the image did not get over...
...Stopgap Skyways. As a stopgap measure to reduce the collision danger, CAA last week laid out three transcontinental air lanes that are completely ground controlled. The new air lanes are 40 miles wide instead of the standard 20 miles, extend from 17,000 ft. to 22,000 ft.; all planes, both military and civilian, in the super-skyways will operate on instrument flight rules, fly at least ten minutes apart. Another five routes are under consideration. In addition, all airlines belonging to the Air Transport Association will fly on instrument rules above 10,000 ft., and military planes will operate...