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...corporations, especially oil companies, are also making a killing. In 1970, the major oil companies earned profits of $8.8 billion and paid taxes at an average rate of 8.7 per cent. In contrast, a $6000-a-year worker paid Federal taxes at a 16 per cent rate...

Author: NO WRITER ATTRIBUTED | Title: Take the Rich Off Welfare | 4/17/1973 | See Source »

...parting words were: "Well, good luck, get a stock option." The President's small coterie of social friends literally numbers a majority of millionaires. Nixon is not in the same financial league as his pals, but certainly by now his private investments and his $200,000-a-year salary as President are edging him toward the millionaire class...

Author: /time Magazine | Title: THE PRESIDENCY by HUGH SIDEY: An Obsession with Money | 4/2/1973 | See Source »

...trailer rig when he was twelve, and served five years for armed robbery before he turned 21. At first, Diaz says, "four of us rented trucks from Hertz and moved our friends. Now we've built up to twelve people, the family owns a van, and we cover any job within 100 miles." An equally succcessful member is Andy Nikolatos, 23, who comes from the Bay Area of San Francisco, committed armed robbery two years ago to feed his drug habit, and, now on probation, runs a $45,000-a-year flower business...

Author: /time Magazine | Title: Behavior: Getting Straight On Delancey Street | 3/19/1973 | See Source »

...loan? Al most. A year ago, Martin Lewicke, a Navy petty officer second class, sought a mortgage to buy a $27,000 house in Arlington, Va. He knew that his $7,660 pay was not sufficient leverage, but he figured that his wife's $11,000-a-year job as a magazine editor would qualify them for the loan. Leon Graybill of the Floyd E. Davis Mortgage Corp. agreed, but how, he wanted to know, could he feel confident that Carol Lewicke would not get pregnant, leave her job and default on the payments...

Author: /time Magazine | Title: The Nation: Sex and the Mortgage | 3/12/1973 | See Source »

...retirement came 81-year-old former Premier Antoine Pinay, a cautious conservative who is remembered chiefly as the "savior of the franc" while serving as De Gaulle's Finance Minister. Critics charge that Pinay's appointment is purely political; he is honorary president of the Républicains Indépendants, the Gaullists' chief allies in government. "We would have taken him more seriously," remarked the satirical magazine Le Canard Enchaine, "if he had been five or six years older." Noting that Pinay starts his six-year, $28,000-a-year job in early April, the Canard...

Author: /time Magazine | Title: The World: The Non-Ombudsman | 2/19/1973 | See Source »

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