TAXATION: Spelling Bee

“Actually, any one who gives the matter unbiased consideration will realize that it is for the benefit of the rich to plug loopholes in tax laws, since this raises more revenues without raising rates.” With this neat bit of logic, Secretary of the Treasury Henry Morgenthau Jr. last week opened the great 1937 hunt for rich tax dodgers launched so suddenly by him and Franklin Roosevelt early this month .

Share

France’s Labor Paradox

President Nicolas Sarkozy may have triumphed over the millions of protesters and strikers who opposed his effort to raise the retirement age in France by two years. But his law to keep people working longer and paying into the pension system longer won’t succeed unless he persuades French bosses to play along; they have a nasty habit of dumping employees older than 50.

Share