Word: costs
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Dates: during 1970-1979
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...reason for all these cries of alarm is Proposition 13, a measure that would limit California property taxes to 1% of the market value of all real estate, about one-third of current average rates. If approved by the voters on June 6-a strong possibility-the proposition would cost California officialdom about $7 billion in annual tax revenues at the present level. It would also make it harder to raise other revenues because it would require a two-thirds vote of both houses of the legislature to impose new taxes...
There are, however, serious flaws in the Marxist-Leninist economic system. Communist countries say they have abolished unemployment?but at the cost of heavily overstaffing every office and factory with workers who seldom can be fired for failing to produce. Bureaucratic controls further cripple efficiency, and managers have little leeway for innovation. Consumer goods are still shoddy and chronically scarce. Long lines form immediately in Warsaw, Prague, Havana, Moscow and other Communist cities at rumors that a shop is about to receive a shipment of such coveted goods as shoes, fresh fish or fruit. Communist leaders boast that their citizens...
...folketrygden (people's security) law grants everyone disability, old-age and survivors' benefits, rehabilitation assistance and unemployment payments. Other measures provide free hospitalization, surgery and medicines. Youngsters through the ninth grade receive dental care at their schools at no cost. Every worker is guaranteed at least four weeks of paid vacation...
Business earnings are also heavily taxed: 30% by the national government and 20% by municipalities. Explains Erlandsen: "The highest cost my firm has is its tax cost. To reduce our tax burden, we share profits with our employees or reinvest them somehow." One of the most common means of sharing is to give employees valuable but tax-exempt "perks," such as trips to mountain resorts and the use of company-owned cars and houses...
...most entertaining of all the candidates, particularly on TV, Marchais inveighed against the "scandalously" rich. "Do you know there are agencies that specialize in the sale of Caribbean islands where you go get a tan in winter?" he asked. "Do you know how much one of these little islands costs? Forty-two million dollars, plus $42 million more in building costs!" Marchais, as French politicians like to do for effect, was using "old franc" figures. The cost in new francs would be $4.2 million...