Word: burdens
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Dates: during 1960-1969
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...senior aides in recommending repeal of the 7% business-investment tax credit as part of his tax package (see BUSINESS). Repeal of the credit is primarily an anti-inflationary measure, but the predominantly Republican business community will pay the bill. The President's other tax proposals-reducing the burden on the poor, halving the surcharge, which weighs most heavily on those of modest means, shrinking loopholes used mainly by the affluent-also tend to benefit Nixon's nonsupporters more than those who elected...
Germans call it die unbewältigte Vergangenheit - the undigested past. By that, they mean the national burden of collective guilt from the Hitler years, which saw Germany start the largest war and commit the most heinous systematic crimes, including the annihilation of 6,000,000 Jews, that ever scarred the history of a civilized nation. Yet in recent years, many Germans, especially those who grew up since the war, have felt that the whole country was unjustly saddled with the burden of crimes committed by only a part of the population. As Foreign Minister Willy Brandt put it: "Twenty...
Reshuffling the Burden. The "most critical problem," said Assistant Treasury Secretary (for tax policy) Edwin Cohen at the House hearings, is to maintain "confidence in the tax structure." Nixon's program seeks to do that by reshuffling some $4 billion in tax liabilities without much altering the $165 billion federal income-tax take. Thus the impact on the inflation-ridden U.S. economy is likely to be small. The main thrust, as Nixon described it, is to "lighten the burden on those who pay too much, and increase the taxes of those who pay too little." He added: "We shall...
...million," believes that people in his income bracket should be more heavily taxed. To help share his own fortune, he has formed a foundation that operates an 880-acre camp for emotionally disturbed boys. "I wanted to invest in people rather than buildings," he explains. To lighten the burden for retired persons on fixed incomes, Eckerd set up a nonprofit Senior Citizen Club; its members qualify for discounts at his drugstores. For his cherished employees, he is working out the details of a more unusual plan. Under it, Eckerd would place 90% of his stock in his company in trust...
Overlooked in the cheering was the fact that Peru's problem has merely been postponed. The burden of action now rests with the junta. The U.S. does not refute Peru's right to expropriate. Indeed, this would be pointless, since the government's Empresa Petrolera Fiscal is operating IPC's Talara refinery with Mexican assistance, and is ripping down Esso gas-station signs in favor of its own brand name Petroperu. Nor does the Nixon Administration quibble with the reimbursement-at $71 million-that Peru is willing to pay. But the U.S. firmly opposes the blue...