Word: bonus
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...announcement was hardly more than an admission; it was not coupled with a platform. He promised that in the course of several speeches which he was planning his position would be made clear. One point of his stand, however, he expressed; he favors tax reduction and a soldiers' bonus. Said he: "We can have tax reduction and do justice to the American soldier as well, by treating adjusted compensation [the bonus] as a part of the War cost and funding it through an issue of 50-year bonds. The interest and sinking fund charge should not exceed...
...Politics. The disconcerting part of Mr. Mellon's proposal was that politicians had generally come to the conclusion that a soldier bonus was the most popular thing that could be offered the country in a "Presidential" year. Many of them had pledged themselves irretrievably to the bonus, and it was an open secret that several had done so disapproving the bonus but regarding it as a political necessity...
...capitol collected for illicit oil speculation. And Washington made known that similar steps are about to be taken against a bootleg ring which has obstinately kept its returns close. If this raid is successful the plum which falls ought to be large enough to pay for a soldiers bonus and deepen every indentation on the Atlantic Coast...
Significance. Secretary Mellon said, in effect, to Congress: " Will you give a bonus to 4,000,000 veterans or will you cut the income taxes of 14,000,000 people?" Any politician's answer would be obvious were it not for the fact that as voters and lobbyists the bonus advocates have a much better organization than the taxpayer. But Mr. Mellon spoke loud enough for the public as well as Congress to hear. Much depends on the public's reaction. If the taxpayers shout louder than the bonus advocates, there may be no bonus...
...responsible for Mr. Mellon's proposal. It is obvious that he will avail himself of the public response in judging what to say to Congress on Dec. 3. If the President believes the public thinks well of lower taxes, the Coolidge war-cry in 1924 may well be: "No bonus, less taxes...