Word: aircraft
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Dates: during 1960-1969
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...CREDIT AND CAPITAL GAINS. Reaffirming an earlier vote, the committee repealed the 7% tax credit for business investment in machinery and equipment, but maintained the exemptions for the railroads and aircraft industry. Finally, it went beyond the Nixon Administration, but not as far as the House, in taxing the capital gains of upper-income taxpayers. Retaining the six-month period for which assets must be held to qualify for capital-gains exemptions, it denied the use of the 25% tax ceiling on such gains to people earning more than $10,000 in tax-preferred income...
...special labs. For example, all members of the special review panel judged the Poseidon program, now that it is out of the basic-research stage, improper for a university-connected lab. But they split sharply over the I-lab's work on Vertical Takeoff and Landing (VTOL) aircraft. The majority defended it on the grounds that VTOLs could be used to speed civilian intercity transit and the project is "far from the production-prototype stage." By contrast, antiwar Guru Noam Chomsky vehemently argued that VTOLs would be used mainly for "repressing domestic insurgency in countries subject to our influence...
...spun out of control. The pilot managed to eject at about 1,000 ft. and landed unhurt in a tree, but his plane plummeted into the black Bavarian soil south of Augsburg. It was the 100th Luftwaffe Starfighter to crash since the Bundeswehr adopted the hot but unforgiving aircraft...
...Treasury agents, aircraft and Coast Guard boats that have been swarming on, over and around the 2,500-mile border since September 21 made only 500 arrests and seized just two tons of marijuana by the end of last week. Yet, if the crackdown did temporarily reduce the annual 1,200-ton flow of "grass" from south of the border -presumably because the serious smugglers just sat it out-it also reduced U.S.-Mexican relations to one of the lowest points in years...
...fires. A deeper reason was that in those years, premium rates of much of the insurance business -with the exception of long-term life, which Lloyd's does not carry -were unrealistic. The rates failed to keep pace with soaring repair costs and the proliferation of bigger jet aircraft and giant oil tankers. "Inflation and technological revolutions all caught up with the underwriters," says Lloyd's Chairman Henry S. Mance...