Word: consumerization
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With rare political courage and good economic sense, Canada has been fighting inflation with fiscal measures first. Last fall, mild credit restrictions were imposed on most consumer goods. They were not enough. The cost-of-living index climbed from 172.5 to 175.2 in January.
However, he still stresses fiscal policy as more important that monetary policy. As far as he is concerned, the present battle between the Federal Reserve and the Treasury is relatively unimportant. "This is certainly no time for easy credit, but more effective control could be had through allocating resources, which...
In Queuille's plans for a new government, no party's sentiments were overlooked. He offered the Socialists and other leftist deputies an increase in the minimum wage. Rightists were assured that resulting price boosts would not be offset by widespread consumer subsidies. Queuille promised the farmers a...
In 1949, under the excise tax system, said Henderson, only $40 billion, or 22.7% of a total $179 billion in consumer spending, was taxed. His contention: some things were being taxed too heavily, others that should have been sharing the load were not being taxed at all. Henderson figured that...
What About the Little Man? There is no doubt that the sales tax is "regressive," i.e., hits harder at the lower incomes. But as Secretary of the Treasury John Snyder has emphasized, the bulk of the new taxes must come from the lower incomes. Not enough additional taxes can be...