Word: abolishing
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...reforms was to abolish the capital gains levy and tax the profits from long-term investments as ordinary income. This income is now taxed at up to 70%; capital gains are taxed at a maximum of 49.1%. Carter contended that his reform would permit the maximum ordinary rate to be cut to 50%, and that the impact on investors thus would be minimal. Overall, the Administration said its reforms would mean substantial tax cuts for those earning less than $20,000 annually and tax increases only for those earning more than...
...taken bloodbath sociology to its logical conclusion. Karl Marx declared that money was at the heart of man's original sin, the acquisition of capital. The men behind Cambodia's Angka Loeu (Organization on High), who absorbed such verities while students in the West, have decided to abolish money...
...that? Well, one simplistic way was to abolish cities, because cities cannot survive without money. The new Cambodian rulers did just that. What matter that hundreds of thousands died as the cities were depopulated? It apparently meant little, if anything, to Premier Pol Pot and his shadowy colleagues on the politburo of Democratic Kampuchea, as they now call Cambodia. When asked about the figure of 1 million deaths, President Khieu Samphan replied: "It's incredible how concerned you Westerners are about war criminals." Radio Phnom Penh even dared to boast of this atrocity in the name of collectivism: "More...
...seems, quite a few Representatives are still trying to abolish the limit on outside income. In particular, it is resented by Congressmen who also are lawyers. There are 222 of them in the 435-member House, though only 42 earned more than $8,650 a year from their practices. The limitation also applies to members who have sizable outside incomes from speaking fees and from businesses that are not owned by them or their families. Says Illinois Democrat Morgan Murphy, who made $60,000 a year in fees from his Chicago law firm: "The abuses and scandals that have...
...proposal, submitted by a CHUL subcommittee on RUS funding, recommends that the University decrease the term bill fee from $5 to $3 next year, from $3 to $2 the following year, and abolish it the third year...