Word: caplining
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Last week President Kennedy sent his long and loudly heralded tax proposals to Congress, and they reflected Caplin's thinking. The "preferences and special provisions" of the tax code, said the President, "discourage taxpayer cooperation and compliance by adding inequities and complexities that affect similarly situated taxpayers in wholly different ways. They divert energies from productive activities to tax avoidance. Taxpayers with equal incomes who are burdened with unequal tax liabilities are certain to seek still further preferences and exceptions...
...perhaps no coincidence that these revisions resemble proposals that Caplin put forward in earlier years. As a Senator, Kennedy talked taxes with Caplin. As a presidential candidate, he asked Caplin's advice on tax issues. And as President, he named Caplin to be Internal Revenue Commissioner...
...excel. He got top marks in school, became captain of his high school swimming team. When he went to the University of Virginia, he knew what he wanted. "I said to myself I wanted to be Phi Beta Kappa," he recalls. A lawyer who was a fellow student of Caplin's remembers how hard he ran: "Almost from the first day, we knew Morty would be first in the class. Nobody was willing, or had the energy, to compete with...
...Caplin went out for boxing at the university and, lacking any special gifts of physique, he had to work at it. Since Virginia refused to subsidize football players, it got trounced regularly on the gridiron. Recalls Law School Dean Frederick Ribble: "The students were humiliated. They felt their manhood was in question. Then along came Morty, the boxer. He started knocking people down and became a hero." Dogged Middleweight Caplin fought for a time with a broken bone in his right hand...
...Seven-Exemption Man. Besides being a campus hero and making Phi Beta Kappa. Caplin fulfilled predictions by finishing first in his law school class (average: 94.5). In addition, he won the Raven Award as an outstanding man in his class. As a youthful lawyer, Caplin found his way to the Wall Street firm of Paul. Weiss, Rifkind, Wharton & Garrison. In 1950, before getting a doctor-of-laws degree as a night student at New York University, he went back to the University of Virginia to teach. By the time President Kennedy tapped him to be the nation's chief...