MANAGEMENT: Boom in Pensions

Said the Washington Post: "One of the many forms of tax avoidance encouraged by high wartime taxes is the establishment of private pension funds for highly paid executives." But top-bracket executives were not the only ones to benefit. U.S. industry is enjoying a boom in pension plans. Plans have flowered in one war-rich corporation after another, providing financial cushions for the old age of $30-a-week janitors, as well as $2,500-a-week movie stars.

The pension boom was directly related to the sky-high U.S. taxes. It began at the time the first whopping wartime tax...

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