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Customers “could reasonably increase their deductible, as long as they have that cash set aside,” Miller said. “That will reduce their premium.”. Auto insurance costs are up more than 22% ...
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2/10 net 30 - this means the buyer must pay within 30 days of the invoice date, but will receive a 2% discount if they pay within 10 days of the invoice date. 3/7 EOM - this means the buyer will receive a cash discount of 3% if the bill is paid within 7 days after the end of the month indicated on the invoice date.
However, these government coupons were limited to an initial sum of $890 million (22,250,000 coupons) with the option to grow to $1.34 billion (33,500,000 coupons), which is far short of the estimated 112 million households (224 million redeemable coupons) in the United States.
The main increase in revenue came from income tax, which in 1915 went up to 3s. 6d in the pound (17.5%), and individual exemptions were lowered. The income tax rate grew to 5s in the pound (25%) in 1916, and 6s (30%) in 1918. Altogether, taxes provided at most 30 percent of national expenditure, with the rest from borrowing.
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