Word: cash
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Dates: during 1960-1969
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...more and more production machinery inevitably becomes outdated, many companies limp on without replacing it because stringent tax depreciation laws make it difficult to get enough cash to modernize. Treasury Under Secretary Henry H. Fowler concedes that U.S. tax write-off allowances "are probably among the most limited in the world." Last week President Kennedy brought welcome relief to the textile industry-one of the most hampered by antiquated machines-by allowing it to concentrate its write-offs in as little as twelve years v. more than 25 years previously. Furthermore, said Kennedy, Treasury tax experts are studying the possibility...
...geodesic dome over the track to make it a year-round sports arena. More likely, he will merge the profitable Yonkers with International in order to write off the losses on International's Freedomland amusement park, which has yet to show a profit. Always in need of ready cash, Zeckendorf also unloaded the Beverly Wilshire Hotel in Los Angeles...
...Safeway burglary, the police knew that extra cash was in the store. The crooked cops carefully surveyed the one-story, yellow brick building during the day. A few nights later, three policemen jimmied the aluminum front door. A police car stopped across the street as lookout; one of the three burglars remained by the store window to watch for a flashing-headlight danger signal. At the safe, his two companions worked with a carborundum wheel, cooled it with cartons of milk. In 90 minutes the safe was cracked...
...Major league baseball attendance was down 5.6% in 1961, but other statistics were impressive. Detroit's Norm Cash (.361) took the American League batting championship. Pittsburgh's Roberto Clemente (.351) won the National League crown. Top American League pitcher was New York's Whitey Ford (25-4); big winners in the National League were Cincinnati's Joey Jay and Milwaukee's Warren Spahn, with 21 victories each...
Besides the immediate economic waste, the Freeman program gravely undermines the freedom of the American farmer. For example, no one can plant wheat as a cash crop this year unless he has grown it in each of the last three years. And the acreage restriction plan encourages an exploitative attitude toward the government--give Orville your worst land and seed the rest more heavily. In sum, the role of the government in Freeman's paradise is that of a silly and meddlesome despot whose chief idols are underproduction, inefficiency, and waste...