Word: annually
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Dates: during 1960-1969
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...surprising numbers of business and political leaders. Milton Friedman, Barry Goldwater's conservative economist in 1964, has long called for what he terms the negative income tax. Yale's James Tobin, a leading liberal economist, has been an effective proponent of what is sometimes called the guaranteed annual income. Though the plans vary considerably in detail, the principle is the same: everyone is entitled to a basic income as a matter of right. Under Tobin's plan, the most carefully thought out, no family of four would receive less than $2,600 a year. As income rises...
...negative income tax, could be sold politically as a program for children rather than the poor, and thus would probably be more acceptable to Congress and the public. A "negative income tax," on the other hand, sounds like what it is, an economist's conceit, while a "guaranteed annual income" suggests featherbedding on a grand scale...
...separation of church and state. Tr ditionally, they have refused to accept government funds for the support of their schools and hospitals. But costs are up, church revenues cannot keep up with them, and easily available fed eral loans and grants are beginning to look more attractive. At several annual state conventions this month, the Baptists decided that clear financial need sometimes should allow the bending of religious principle...
...found in capital spending, the money that businessmen invest in new plant and equipment. This year's outlay will reach about $64.5 billion, and until recently, forecasters had expected little if any gain in 1969. Behind the pessimism were two negative portents: capital spending fell by an annual rate of $2 billion in this year's second quarter; and in the third quarter, the nation's plants were producing at 83.3% of capacity, a five-year low. Even so, economic signals are beginning to continued on next page foretell a rise in capital spending next year...
...outlook for capital spending has improved largely because general business conditions are looking better. Demand for steel is strong; output has climbed for four straight weeks. Sales of 1969-model autos have been racing at a record annual rate of 10.3 million cars (see story, p. 94). New factory orders rose 4% in October, the biggest improvement this year. Sales of new houses are increasing despite punitive price tags and pumped-up mortgage rates. Housing starts will probably rise from 1,290,000 in 1967, to 1,500,000 this year. Building-industry analysts anticipate about...