Word: collected
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Dates: during 1970-1979
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...seeking to have Colorado Corp., a holding company that is 90% owned by King, declared bankrupt also. The Internal Revenue Service has slapped liens on his property for $5,300,000 in back taxes. Creditors, former investors, and tax authorities are suing him in at least six states to collect what is left of his personal fortune, which was once estimated to be $480 million but by King's account has shrunk to $42 million. The keystone of that fortune, King Resources stock, has dropped from $34 a share to less than $1 in two years. The onetime financial...
Incendiary Issue. Seeking to break out of the fiscal straitjacket, Nixon is seriously studying a "value-added tax," which he may propose to Congress as early as March. A kind of national sales tax, the VAT would collect a percentage of the cost that is added to a product as it moves from raw-material supplier to manufacturer to wholesaler to retailer. For example, when a furniture maker sold a carload of chairs, he would pay to the Federal Government perhaps 3% of the difference between the raw-material cost and the selling price of the product. This would...
Breny said that, although 5000 signatures were needed to validate the petition, she hoped to collect a "few hundred" more than that for security...
...name itself, Rolling Meadows, is redolent of Elysium. For its taxpayers, Rolling Meadows, Ill., is heaven: the city property tax has been abolished. The small (pop. 19,000) Chicago suburb is a beneficiary of an Illinois law that allows municipalities to collect a portion of state sales tax on goods billed within the community. With the $1.2 million collected each year on the sales of products of such corporate neighbors as Western Electric and Hallicrafters, which have sales offices there, Rolling Meadows does better than make ends meet...
Louisville authorities have tried to crack down on domestics who collect welfare while working in homes. Because they are paid in cash and no records are kept, they are hard to catch. Their employers are happy to contribute to the ruse. Since the maids are partially subsidized by the government, they settle for low wages. Says Jefferson County Attorney Bruce Million: "The irony is that some of these wealthy people who hire the maids are always griping about how many people are on welfare...