Word: opa
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Washington, gearing for war again, was a different place from the total-war days of just five years ago. Then there had been F.D.R.'s big, bickering collection of powerful organizations-WPB, 0PM, WMC, WLB, OPA and other alphabetical agencies devised for every new area and every crisis. So far, President Truman has reached toward mobilization in a more traditional fashion, through the regular Cabinet departments. So far in 1950, there are no home-front czars and caliphs grinding out firm and final decrees to a wage-stabilized, price-controlled, rationed public. But there is also a noticeable absence...
...Expensing the Excess." If Snyder was a lukewarm advocate, several onetime New Dealers were passionately opposed to the tax. Ex-OPA Boss Leon Henderson, now a businessman's consultant, termed the tax "a built-in barrier to new investment." War profits, said Henderson, should be kept down by constantly renegotiating military contracts. He insisted that World War II's excess profits tax had not caught profiteers: "Only one out of every six corporations that earned any income paid an excess profits tax . . . No statistician will ever figure out how many corporations escaped E.P.T. by the simple device...
...Uncle of OPA. Where housewives hoped for help, there was only a vague and empty promise of it. The bill contained no workable method for price control...
...retail prices or take ruinous losses. Besides, the mere job of getting across-the-board enforcement started, Government experts figured, would cost $400 million, require 65,000 more federal workers. "I said when we started out," said Maybank, "that I wouldn't be the uncle of any damned OPA...
Klinger worked in the OPA's Manhattan office. There, said the Government, he let some black-market friends buy 6,000,000 Ibs. of sugar at the OPA price of $6.38 a 100-lb. bag, sell it to soft-drink manufacturers for as much as $25 a bag. In return, said the Government, Klinger & friends collected $5 a bag in kickbacks, clearing an estimated $300,000. Last week a federal grand jury indicted Klinger, three other OPA officials and three sugar dealers, for conspiracy to defraud the Government. Maximum penalty: $10,000 in fines and two years in jail...