Word: bites
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Dates: during 1970-1979
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Property taxes constitute the biggest nonfederal tax burden for most families. From 1953 to 1975, the property-tax bite on an average family's income grew from $110 to $560, and for families with twice the average income it increased from $180 to $896. On top of that, homeowners must also pay Social Security and a whole range of other state taxes that have been growing explosively in recent years (see chart). The nibbles from those taxes come a little at a time every day or every payday and thus seem less aggravating. Only the property tax looms...
DIED. Richard Lindner, 76, German-born painter whose brassy, cartoon-like and often sinister depictions of women had the bite of Brecht and the machine-like surface of Léger; in Manhattan. Lindner, a Jew, escaped the Nazis by fleeing to France and then to the U.S., where he worked as an illustrator until his own work became successful in the 1960s. His favorite subject-woman-he saw as "bursting her corsets like a prehistoric animal cracking the egg and getting...
More important, Healey also raised the thresholds of taxable income, liberating some 360,000 families at the poverty level from taxes altogether and softening the bite on low and middle income citizens-though only slightly. The average British family man, who earns $7,410 a year and gives up fully 20% of that in taxes (compared with 14% for the median U.S. taxpayer), can look forward to keeping an additional $3.50 of his weekly pay; that is about enough for one extra beer a day at the local...
What sets this tax season apart is the growing alarm in the nation at the size of the entire tax burden-about 34% of family incomes-including local property taxes, Social Security withholding and right on up to the federal bite, which is the biggest. While three out of four of those federal returns will ask for refunds, the hope of getting a little money back will often be dampened by the duty of computation ("My own return has driven me right up the tree," confesses a man at the U.S. Treasury...
...times, to songs like Son of a Son's "My African Friend." He meets an African guy gambling in Martinique, they get drunk and Buffett scrapes himself up off some steps the next morning to find the guy gone. Sure was a good time, though, huh? There's no bite to it and nothing...