Word: boosted
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Then, as if to indicate that he might well settle for less, Figueres listed another set of proposals he had made to United Fruit's chairman. Here he got much more specific: pending future sale of its Costa Rican assets, the company should now 1) accept a boost in its corporation tax from 15% to 50%, 2) forgo its tariff exemptions and pay the regular 25% duty on its stores and equipment imports...
...year's end, the same uncertainty hung in the air as at the beginning. Because of this, the businessmen in Washington were arming against a possible letdown. They have a housing program designed to keep building above the 1,000,000 units-a-year level, plans to boost the minimum wage and to provide increased unemployment insurance benefits, along with a $15 billion public-works program ready...
...provides a well-padded corporate cushion against a sales drop. Sales of General Motors, for example, could drop as much as 37% in 1954, and the automaker would still end up with net profits as good as in 1953. General Electric, even with some drop in sales, could boost its earnings to $7.50 a share this year v. an estimated $5.50 in 1953. (In anticipation, traders have pushed G.E.'s stock up 20 points to $87 in the past six months...
Under North American's terms, the U.A.W. gets a flat 4% pay boost (averaging 8? an hour), plus some fringe benefits. (Douglas and Lockheed had made slightly smaller wage settlements with the A.F.L. International Association of Machinists since the strike started.) But beyond that, the union had little to cheer about. North American's workers had lost $16.3 million in paychecks during the strike, an average...
...main Republican argument for postponing the rise is political. (The boost, once scheduled to go into effect in 1943, was postponed after a fight led by the late Senator Arthur Vandenberg.) Some Republican Congressmen argue that the 10% cut in income taxes on Jan. 1 will be more than offset for workers in low tax brackets by the larger social-security payment. Actually, this is a weak argument. At the new rate, unmarried workers will get less take-home pay only if their taxable incomes are under $800 a year: married couples without dependents only if their income is less...