Word: buying
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Dates: during 1970-1979
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Steiger and his allies assert that high capital gains taxes hit the economy precisely where it is most vulnerable. They steer investors away from innovative, high-risk ventures and push people to buy such securities as bonds of mature companies, which yield a steady, safe return. That return is taxed at ordinary-income rates, to be sure, but then capital gains rates are no longer low enough to compensate investors for extra risk. Supporters of Steiger argue persuasively that cutting capital gains rates would raise federal revenues rather than reduce them. People would sell assets they have been salting away...
...traveler's check market, plans to sell its Citibank checks through Carte Blanche. Citicorp bought Carte Blanche in the early 1960s, but was forced to spin it off when the Justice Department objected on antitrust grounds. A federal judge has approved Citicorp's plan to buy back Carte Blanche, and the trustbusters are not likely to block the reunion. Partly because of rising competition from bank-issued cards, Carte Blanche has fared poorly and could well use Citicorp's muscle...
...provide a continuing stimulus for growth. A major threat to further gains is the possibility that the developed countries will put up trade barriers against Third World exports. That would be self-defeating, warns the report, because only if the LDCs remain on the upswing can they continue to buy 28% of the manufactured goods exported by the industrial states...
Schmidt was led to his discovery by Haya elders, who showed him a "shrine tree" that they said marked the site of ancient iron smelters long worked by their people. Because the Haya can now buy inexpensive, European-made steel tools and make more money raising coffee and other crops, they stopped producing their own steel some 50 years ago. Thus the only Haya who could recall details of the steelmaking process were very old, and as Schmidt and Avery write, this knowledge was "threatened every day by the passage of time, by death and by age-related infirmities occurring...
...approved, the deal would end the grandiose hopes of feisty little Texas International Airlines of taking over National. But the Texans, who have lately spent $48 million to buy 20% of National's stock, probably will not be sore losers. At the $41 price that Pan Am is offering for National stock, Texas International's investments will be worth $70 million...