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While Healey did not soak the rich, he did get them a little wet. The basic corporate tax rate was raised from 50% to 52%, the basic income tax from 30% to 33%, with the burden falling heaviest on the biggest earners. Thus, a $25,000-a-year earner who had been paying roughly $8,000 a year in taxes will now pay about $500 more. Those earning $7,200 and under will pay marginally less. There will be heavier levies on luxuries such as liquor (48? more for a 26-oz. bottle of gin, to $6.24), cigarettes (12? more...

Author: /time Magazine | Title: BRITAIN: Not Soaked, but Damp | 4/8/1974 | See Source »

Louis E. Martin, librarian of Harvard College, said he thought the library community would prefer professional librarian for the $38,500-a-year post...

Author: By Mark W. Lomax, | Title: Library of Congress Considers Naming Handlin New Chief | 3/29/1974 | See Source »

...Vesco's pocket," as a federal prosecutor bluntly put it. Vesco had contributed $20,000 to Sears' unsuccessful attempt to win New Jersey's Republican gubernatorial primary in 1969, then helped him to pay off his campaign debts. Vesco also put Sears on a $60,000-a-year retainer as part-time counsel and a director of his International Controls Corp., which had taken over Investors Overseas Services, the rickety mutual-fund empire glued together in Switzerland by Bernard Cornfeld...

Author: /time Magazine | Title: TRIALS: Mr. Stans, Here Is Your Currency | 3/18/1974 | See Source »

...a-year dues don't quite carry us through the season," table tennis captain Anders Carlsson '75 said. "Everyone inevitably chips in for gas on road trips and we spend a lot more than $5 per person...

Author: By Richard H.P. Sia, | Title: Sports Clubs' Financial Picture Bleak; Members Criticize Athletic Department | 3/13/1974 | See Source »

When Richard Nixon picked Leon Jaworski as special prosecutor, there were those who darkly suspected that the fix was in. Jaworski, a 68-year-old Texas Democrat who had been close to Lyndon Johnson, had quietly supported Nixon for re-election in 1972. As a highly successful $200,000-a-year trial attorney, he was a pillar of the Houston Establishment. There were unconfirmed reports that his appointment had been cleared by John Connally to make sure that he had a proper understanding of the President's predicament...

Author: /time Magazine | Title: The Nation: A Texan Who Goes His Own Way | 3/11/1974 | See Source »

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