Word: businessmen
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...sure, Treasury II, also known as President I, is still a sweeping attempt to close a slew of loopholes. Even the infamous three-martini lunch is threatened; businessmen would be able to deduct only $15 per person for lunch, and entertainment expenses like box seats at sporting events would no longer be deductible at all. By eliminating enough deductions, the Treasury can afford to reduce overall tax rates. The top federal income tax bracket would drop from 50% to 35%, with brackets of 25% and 15% for those making less...
...Farmington, N. Mex., a city of 35,626, MADD, SADD (for Students Against Drunk Driving), parents and local businessmen are trying to replace the "kegger," the traditional graduation-night beer party held in the hills outside town. A local bank donated use of a health spa, and TV and radio stations are contributing free airtime for SADD pleas asking students to sign lifetime "contracts" with parents promising to avoid drunk driving. In Houston, a cab company is offering free rides to inebriated promgoers, and tuxedos rented from Al's Formal Wear will come with a printed warning about drinking...
Some new drinking and socializing trends involve no alcohol at all. The "power tea" is starting to catch on with businessmen in big cities. Rather than gathering for whiskey at the cocktail hour, executives are collecting in hotel lobbies from The Breakers in Palm Beach, Fla., to the Mansion in Dallas for decaffeinated Darjeeling and little sandwiches. Businessmen and -women talk deals at Boston's Ritz-Carlton, which offers a variety of teas, steeped in floral china pots. New York City's WaldorfAstoria reinstated tea service just over one year ago. Says Food and Beverage Director Thomas Monetti: "People like...
Weitzman's prescription may sound simplistic and his goals unrealistic, but the book is being widely discussed by economists and businessmen, and some reviewers are already hailing it as a breakthrough in economic theory. John Roemer, an economist at the University of California, Davis, calls it "one of the most exciting books in economics I have read in several years." In an editorial, the New York Times dubbed Weitzman's proposal the "best idea since Keynes...
...Some businessmen also dispute Weitzman's reasoning. They argue that companies cannot add employees unless demand for their products increases. "Weitzman has a utopian idea," says Kevin O'Donnell, president of SIFCO Industries, a metalworking firm based in Cleveland. Many economists praise the theoretical elegance of Weitzman's plan, but doubt that it could be put into practice any time soon, if at all. Says David Glasner, a senior fellow at the Manhattan Institute for Policy Research: "Workers simply prefer having a known wage rate and do not want to take the risk of a variable income." Contends Melvin Reder...