Word: costs
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Dates: during 1970-1979
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...undertakings will be shelved or scaled down. One casualty will be the national health insurance program that Carter promised during his 1976 campaign. It is too expensive to be considered now. The White House, however, can be expected to fight harder than it did before for the hospital cost-containment bill that was defeated in the last Congress...
Another casualty will be the $20 billion welfare-reform program that Carter proposed last year. Aside from costing too much, the whole rationale for "reform" was thrown into question at Senate hearings this month. A $60 million, seven-year study conducted by the Stanford Research Institute in Seattle and Denver showed that people in guaranteed annual income programs, the centerpiece of the Carter plan, worked fewer hours than before, and their marriages broke up more frequently than those of persons on the present welfare system. Carter is considering supporting a revised welfare proposal that would not be fully funded until...
...upon taxes are compounded, they amount to a markup of 85% for the state. Not surprisingly, Pennsylvanians try to purchase much of their liquor in neighboring states like Maryland, where a half-gallon oi whisky sells for about one-third less Pennsylvania officials complain that out-of-state purchases cost the Pennsylvania treasury some $25 million a year in lost revenues, but the hefty profit ($151 million last year) that the Liquor Contro" Board turns eases the pain...
Over the past few months, the Chinese approached Gulf Oil and several other U.S. oil majors to discuss possible oil sales, but these firms were not very interested. All were put off by the generally low quality of Chinese crude, the high cost of Pacific shipping and the glut of Alaskan oil on the West Coast. Still, Peking wanted the hard dollars that an oil sale would bring, and the terms of the Coastal States deal were made more attractive than the previous contracts offered to the other companies. The price is believed to be far enough below OPEC levels...
...renovation of historical buildings are the most popular, largely because Congress took no steps to block nonrecourse financing of them. Thus a shelter partnership might raise $1 million from its members and $4 million in nonrecourse loans to convert a rundown building into federally subsidized apartments at a total cost of $5 million. Though the property could be assumed to have a useful life of 30 years, the investors may deduct the mostly borrowed cost over five years, providing them with $1 million a year in write-offs that they use to cut their taxable income from other sources. When...