Word: brackets
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...playing field, and every tired old seat has been replaced or repaired. Outfield fences have been shorn of advertising (even Budweiser signs are absent) and painted a deep, simple, hitter's green. Among other things, there are 16 luxurious boxes where, for $2,500 a season, upper-bracket fans can whoop it up with waiter service; all 16 are already rented for the season...
Nyhan explained that the draft boards will aim at the "older age bracket" during 1954 although they may call some men as young as 20 years...
...voting shares that control the company). But such devices, the book explains, are no longer the sole province of big corporations and rich families; they can be sound business practice for smaller companies or people with relatively modest fortunes. For example, a company in the top excess-profits bracket, which normally gives $500 a year to charity, can set up a $10,000 foundation this year at a net cost, after taxes, of $1,800. The return on the investment at 5% will take care of future charitable requests. But, based on scheduled tax reductions, setting up such a foundation...
...federal sales tax does what its backers think it will do: it places the Durclen more on the low-income-bracket classes than on the higher-income-bracket classes . . . The present federal excise tax structure is not discriminatory; it puts the burden on such articles as are capable of bearing it . . . A 10% manufacturers excise tax means a 10% tax at retail and no act of Congress is likely to change that...
...these objections have validity. Most of the revenue raised by a sales tax would have to come from those with middle-and lower-bracket incomes because they form the majority of the population. But it would hardly "soak the poor," since food and housing and medical expenses, on which the lowest-income families spend as much as 65% of their earnings, would be exempt under all proposed plans. Instead, the biggest dent, dollarwise, would be made on those who have the most to spend on nonessentials. As for a pyramiding of the tax, Congress could easily prevent this by requiring...