Word: basketeer
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Dates: during 1930-1939
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...months, in corridors and cloakrooms, at cocktail parties and committee hearings, Washington has been talking about three "baskets." These "baskets" were neither wicker containers nor scoring points in a game but Congressional slang for different sections of the new tax bill-each basket being designed to> catch a certain type of taxpayer. Most discussed has been the "third basket," for it carried the largest load of a pet Administration theory-the tax on undistributed profits...
With the able aid of Undersecretary of the Treasury Roswell Magill and what amounts to an increase in the normal corporate tax, the House Ways & Means Committee managed to modify the principle beyond recognition without loss of revenue. In the first basket all corporations earning $25,000 or less were exempted entirely from the undistributed profits tax. The second basket placed a trifling undistributed profits tax (maximum: 4%) on all other corporations- with certain exceptions. One exception was closely-held corporations making more than $75,000. For this group-in the third basket-the surtax and income tax together would...
...when it reported the bill. What it did not expect was that a 326 to 104 Democratic majority in the House would, especially in an election year, prove so much more responsive to the wishes of business than to the wishes of the Administration as to kill the third basket entirely. This last week was precisely what occurred. So eager was Congress to show that it is still a representative body that it was willing to risk its dignity by attacking a ghost...
Individual scoring means little in the Fesler system which depends on fast, clever ball-handling working in toward the basket. Sudden breaks by one of the forwards provide the scoring punch, with tall John Herrick stationed under the basket to tip in any shot that misses he center of the rim. When the players have the "eye", the system is unbeatable. In the same way, a great deal of the team's success depends on whether Herrick has the touch to bat the ball...
Captain Vernon Struck has also been having difficulty in hitting the basket this season with a scant 23 points in league competition. But Struckie along with Ulysses Lupien has played a major part in the Crimson defense that has been so effective in the last few games. Against Columbia the Feslerman were able to hold the opposition to six points in the second half and Tuesday night kept the Ithacans to eight tallies in the last period...