Word: ruralization
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...author of this revolutionary idea is huge, 48-year-old Beardsley Rural, R. H. Macy treasurer and New York Federal Reserve Bank Chairman. Mr. Rural got to brooding on a pay-as-you-go tax when he saw the mess that U.S. business executives get into when they retire on incomes far below their former earning power but still have to pay one year's taxes on what they used to earn. With the U.S. at war, the same sort of thing happens to younger men. So far the Treasury has of necessity been very lenient about demanding current...
...early as last March, Beardsley Rural stopped brooding over this problem, sent his plan off to the Treasury and to a long list of friends. The Treasury was shy about stating any opinion at all, but the friends came through with paeans of praise. Thus encouraged, Mr. Rural last week went down to Washington to spill his plan to the Senate...
...plan, as Mr. Rural explained it to the bemused Senators, is so simple it sounds complicated. Said he: let each taxpayer 1) consider that the tax statement he filed last March on income earned in 1941 was really a statement of the tax he owed on his 1942 income; 2) at the end of 1942, when he knows what his income really was, let him figure out how much more or less he owes; 3) let him apply the difference as a credit against or addition to the tax he figures next March on his 1943 income...
TINSLEY'S BONES - Percival Wilde -Random House ($2). The incineration of an eremitical pulpwriter in his rural Connecticut retreat causes the convocation of an amazing coroner's jury. The testimony presented, the diary of one juror with an unfortunate flair for amateur detection, and the sly sleuthing of Coroner Slocum make up the year's most intelligently hilarious mystery yarn...
...Many a rural Texan firmly believes that W. Lee ("Pappy") O'Daniel, the crooning flour peddler, is the plain man's answer to "professional politicians." The plain people of Texas twice elected him Governor, then sent him to the Senate. But this week, as Pappy sought to succeed himself in Texas' primary, he discovered that ignorance may not be as highly regarded by the voters as it once...