Word: collected
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Dates: during 1970-1979
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...banks and from one business to another, Central States makes legitimate loans to legitimate borrowers, but it also makes other loans mainly on the basis of friendship. All too frequently, says a U.S. Attorney in Chicago, the loans are not paid back, and no real effort is made to collect, especially if the borrower is a pal of a top Teamster official...
...contrast, SoCal Gas will pay tax at the full 48% corporate rate on the money it receives by levying the surcharge. Thus, in order to get $313 million to pay to Arco, SoCal Gas will have to collect some $600 million from customers. In the unlikely event that the deal falls through, Arco would refund the SoCal Gas advances plus 7% interest. Then SoCal Gas would return the Arco refund to the consumers. The IRS would rebate the income taxes paid on the money raised for the Arco advance, so the consumers would get back the full $600 million...
...both individual and industrial customers who use minimal amounts of gas. An effort is also under way in the legislature to enact an involved scheme under which taxes would be eliminated on the surcharge levied by SoCal Gas on consumers, so that SoCal Gas would not have to collect almost $2 for every $1 to be advanced to Arco. Nonetheless, the SoCal Gas-Arco deal reflects some hard realities: 1) the nation currently faces a severe shortage of natural gas-supplies this winter, in fact, are expected to fall 15% to 30% below demand; 2) developing new supplies is expensive...
...Great to the Young Turks of this century. The Armenians had made two crucial wagers: on Christianity and the growing power of Europe. But the gamblers, observes their chronicler, "had been in the wrong part of the world to make these bets-or at any rate to hope to collect on them...
...reduction of corporate rates that would shift the burden further to the individual taxpayers." Another criticism is that Simon's proposed reductions for individual taxpayers would make the tax system less progressive, by giving the biggest benefits to upper-income people, who own more stock and collect more dividends than individuals in the lower brackets...