Word: wage
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Dates: during 1950-1959
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...finding agency to decide in advance whether price increases, in or out of the auto industry, are "justified." Equally far apart were the Curtice and Reuther economic prescriptions. Curtice urged federal tax cuts "across the board" to jack up spending by business firms and consumers. Reuther called for big wage raises to boost consumer purchasing power...
...about as sound as prescribing ice packs for a man with a chill. The poll snowed that 1) well-heeled U.S. consumers are more reluctant to make big purchases than they were a year ago, and 2) the reluctance stems largely from discontent with high prices. Reuther's wage boosts would tend to push prices upward, making consumers even more reluctant to buy. And for workers who did not share in the new round of raises, the higher prices would mean a decrease in real purchasing power...
...recession should deepen, a fairer remedy might be the tax cut urged by Automan Curtice, many U.S. economists and some members of Congress, and conditionally approved by Treasury Secretary Robert Anderson. Unlike wage raises, tax cuts would increase purchasing power without upping business costs, and would benefit all earnings instead of just members of muscular unions such as Walter Reuther's U.A.W...
...country economically is "a serious imbalance" between expanded productive power and lagging purchasing power-correctible in U.A.W.'s case by signing a fat new contract. But Curtice wrote that he could "make our position clear without a personal appearance." The nation, said Curtice, is afraid U.A.W. will make wage demands not "tailored to the economic facts of life." As a start toward restoring public confidence, Curtice asked U.A.W. to renew its present G.M. contract for two years, and stick by its 6?-an-hour annual wage increase...
GUARANTEED ANNUAL wage will get broadest extension yet from management of Ohio's Champion Paper & Fibre Co. Plan for 10,000 workers will assure 48 weeks of 40-hour employment (or equivalent pay) this year, far surpassing original 26-week guarantee at 65% of take-home pay won in 1955 by United Auto Workers...