Word: taxing
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Dates: during 1960-1969
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Wide Appeal. Jenkins is a practical socialist whose views do not differ widely from Callaghan's. He is a firm backer of Britain's entry into the Common Market, favors some relaxation of government controls and greater tax incentives for industry. The son of a coal miner who was a Labor M.P., he went to Oxford not on a scholarship but on his father's earnings...
...suddenly appears at the party to announce that the police are on to her, it becomes clear that all of the wives have been cutting capers in her beds. And their husbands are in the know. With baleful urbanity, the men band together and make plans to protect their tax-free sincome...
...many Americans, the idea of a guaranteed income smacks suspiciously of a dole to people who refuse to get a job. Others argue that this would not be the case with a guaranteed-income scheme called the "negative income tax." Intended to preserve at least some incentive to work, the proposal has at tracted remarkably disparate support -ranging from University of Chicago Economist Milton Friedman, a 1964 adviser to Barry Goldwater, to Yale's James Tobin, a former economic adviser to President Kennedy. Last week the idea got a big boost from inside the business community when Ford Motor...
Like other supporting proposals for a negative income tax, Miller envisions using tax revenues to assure impoverished families of part of the amount by which their income falls below a certain level. Under one proposal, a family paying no income tax (for example, a family of four with income of less than $3,000) would receive payments equal to the exemptions and deductions it would be credited with if it were in a tax-paying bracket. As Miller sees it, a householder with no income whatsoever "would receive a basic allowance related to the size and composition of the family...
...pitfall of incentive-destroying programs in which "every dollar increase in earned income is entirely off set by withdrawal of a dollar in welfare payments." Instead, he said, "when a member of a family began to earn income, the basic allowance would automatically be reduced by an offsetting tax, but not by a corresponding amount. A family with a member at work would always be better off than a family with out anyone at work...