Word: bypass
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PERSONAL TAXES. In an astute political move, McGovern decided to bypass the myriad special-interest groups that have influenced previous tax-reform bills and simply propose a minimum tax of 75% of the statutory rates on all incomes over $50,000. The Nelson bill sets the minimum at 50% of the posted tax rate on income exceeding $12,000. Under McGovern's plan, for example, a taxpayer with an income of $150,000 could take advantage of all legal tax maneuvers on the first $50,000; but on the other $100,000, he would be liable for three-quarters...
...crowd would have been even larger, cynics observed, if three of the 1971 prizewinners were not dead. Flannery O'Connor, who won in the most coveted fiction category for the complete collection of her matchless stories (TIME, Nov. 29), died in 1964. The fiction judges had to bypass an N.B.A. rule that bars books by authors more than two years departed to give her the award. The history award, a separate category for the first time this year, went to Allan Nevins who died in 1971, after finishing the last two volumes in his massively readable eight-volume history...
When the laws were passed last year, I.O.S. officers thought that the company could bypass them by moving its sales office to London, administering clients' accounts from Amsterdam and keeping only executive offices in Geneva. That plan was shattered in November, when the Swiss arrested three I.O.S. officers on charges of "dishonest business practices" and held them in jail for one night before releasing them on bail. Among the trio was New Jersey Entrepreneur Robert Vesco, 36-year-old chairman of an electronics firm called International Controls Corp., who wrested control of I.O.S. from Cornfeld's group...
...Peking's. U.S. diplomats hope that Watson can press for several still unfulfilled U.S. goals, including freer access to China for U.S. journalists, businessmen and cultural groups. Peking, however, has insisted that it is interested only in "people-to-people" contacts, which means that the Chinese hope to bypass the U.S. Government altogether and deal directly with private U.S. citizens and companies...
...walking this earth for approval of what I'm doing," she assured one rally. Her husband Conrad is introduced as the "future first gentleman." Such is the intensity of her emotions on the stump that she told an audience that as President she would sometimes be forced to bypass Congress and rule by "executive fiat...