Word: credited
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Dates: during 1960-1969
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...goods bought years ago at lower prices. To ensure that no one escapes taxes entirely, the bill requires that taxes be paid on at least 50% of all income. The Senate also blunted the effect of a presidential measure approved by the House: the repeal of the 7% tax credit that businessmen can claim on new equipment. The Administration wants to abolish the credit in order to slow down a capital-investment boom, but the Senate voted to exempt all equipment purchases under $20,000-an amendment that would cost $720 million of the $6.5 billion in revenue that...
...veto. As a further complication, the bill contains an extension to next July 1 of the 5% surcharge that Nixon has requested as an anti-inflationary measure. Thus the congressional Democrats have the best of all political-if not economic-worlds. If Nixon signs the bill, they can claim credit for tax reduction and blame the Administration for inflation. If he vetoes it, they can blame him for both inflation and high taxes. Last week Mills promised that the President would receive the final results of Congress's labors before Christmas...
...simply supplement. Some retailers who mail out unsolicited credit cards try passing on the high costs of collection and theft loss to their customers. Until protests from three states prompted revisions in the plan, Montgomery Ward billed charge-account customers for credit life insurance on themselves to avoid the expense of settling with the estates of deceased buyers. Unless customers specifically requested not to be enrolled in the plan, they were billed 100 a month on each $100 owed. Although the charge amounted to pocket change for most persons, it was designed to pass on a major expense of Montgomery...
...contributing to heart disease. Nader found that average frank fat had increased in 15 years from 17% to 33% of the total content. The "fatfurter" campaign was on, and he now emphasizes it frequently in his speeches. Nader cultivates mutually helpful friendships among Congressmen, offering to let them take credit for his digging and even drafting legislative proposals for them. His chief contacts in the Senate are Magnuson...
...pessimists and set the stage for a price rally-instead of the fairly steady, day-by-day erosion of prices on fairly light trading volume. Prices were weak principally because investors had the feeling that inflation was not being defeated and that the Government would have to continue strangling credit and pursuing other constrictive policies that risk a recession...