Business: Call to Waive That Raise

There was no rush of volunteers after Jimmy Carter suggested that high executives waive their pay raises for a year in the crusade against inflation. Corporate chiefs can argue that they too have been squeezed. According to Arthur Young & Co., accountants, salaries of chairmen, presidents and chief financial officers rose an average of 46.9% from 1970 through 1976, a jot higher than the consumer price index climb of 46.6%. In fact, these executives did not keep up with inflation because they were pushed into higher tax brackets, and much of their raises was...

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