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NATIONAL INDUSTRIAL RECOVERY ACT: One of the first acts passed under New Deal program the Roosevelt administration in 1933, it specifically allowed workers to organized into unions and to engage in collective bargaining without interference from firms. This act, going by the acronym NIRA, was declared unconstitutional in 1935, but while in force gave a big boost to labor unions and membership. The National Labor Relations Act was created in 1935 to replace the NIRA.
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INTERNAL REVENUE SERVICE A branch of the Department of Treasury that is responsible for collecting federal income taxes and administering the Internal Revenue Code. The Internal Revenue Service (IRS) is the office of the U.S. government that collects the tax revenue needed to purchase goods, pay administrative expenses, and finance assorted government functions. The IRS was established during the Civil War in 1862, but underwent a major overhaul in 1913 when the 16th amendment to the U.S. Constitution gave it the power to collect income taxes.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store trying to buy either a remote controlled World War I bi-plane or a wall poster commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki. Be on the lookout for broken fingernail clippers.
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Junk bonds are so called because they have a better than 50% chance of default, carrying a Standard & Poor's rating of CC or lower.
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"Genius is an infinite capacity for taking pains. " -- Jane Ellis Hopkins, writer
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BQ
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