Word: tip
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Dates: during 1970-1979
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Rieger discussed her suspicions with her fiancé, who informed the authorities. She had a piece of clinching evidence: on the right cheek of a squeaky-voiced member of the film crew was a telltale double birthmark, positively identifying her as Adelheid Schulz. Acting on the tip, police mounted an elaborate surveillance, observing-and even photographing-the suspects as they boarded Rieger's helicopter for subsequent flights. Handwriting experts examined the helicopter rental contract and concluded that it had been signed by Klar. But in a fit of inexplicable indecision, the cops failed to close in and make...
...final possibility is TIP (for Tax-based Incomes Policy). This is a long discussed plan either to impose penalty taxes on employers who raise wages too much, or to give tax cuts to workers and companies who keep wage and price boosts moderate (see box). Carter may introduce a TIP plan in the next session of Congress...
...Senate Banking Committee staff is drafting such a Tax-based Incomes Policy (TIP) bill, which Chairman William Proxmire plans to introduce late this year or early next. Meanwhile, some Treasury and Internal Revenue Service staffers were ordered to cancel summer vacations and study what kind of TIP plan the Carter Administration might propose. Explains Lyle Gramley, a member of the Council of Economic Advisers: "TIP is becoming more attractive simply because the other alternatives aren't much better or they're not working...
That policymakers are being even so tepidly tempted constitutes an intellectual victory for Federal Reserve Governor Henry Wallich, who has been pushing TIP through nearly eight years of debate in obscure economic journals. His basic idea, elaborated in cooperation with University of Pennsylvania Economist Sidney Weintraub, is to set a guideline for wage and benefit increases-about 5% a year in Wallich's latest version-and slap a penalty tax on any company that raised pay as much as 1% more. In his view, that would force employers to hold down wages, and prices would automatically follow...
...rates still more. The cost of short-term credit has already been kicked up nearly 20% since January; last week major banks lifted their prime lending rate to businessmen a quarter of a point to 9¼%- the highest level since February 1975. A really tight credit squeeze could tip the economy into recession, but right now the outlook is for interest rates to peak later this year and begin to drift down...