Word: exceed
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Dates: during 1960-1969
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Reynolds is afraid that the proposed action may seriously hinder donations by "the medium-sized givers, a group that is awfully important to us." Under the bill, charitable gifts, interest payments and local taxes will be deductible only if they exceed five per cent of the donor's income. Most alumni donations, many of only $10, would therefore not be deductible...
...Force That Counts. Today, said McNamara, "the size, variety and power of our strategic retaliatory forces still greatly exceed those of the Soviets. Allowing for losses from an initial enemy attack and attrition en route to target, we calculate that our forces today could still destroy the Soviet Union." This is the well-known "second strike force," and since the U.S. does not intend to strike first, it is the only force that counts...
...depletion allowance permits the owner of an oil-producing property to deduct 27½% of the gross income from the property in computing the tax liability, with the restriction that the allowance cannot in any year exceed 50% of the taxable income from the property. Yearly cost to the Treasury: about $1 billion. Similar allowances apply to natural-gas wells and, at less generous rates, to most kinds of mineral deposits, from antimony to zircon. What is wrong with the arrangement, as tax reformers see it, is that the owner can keep on taking the deduction indefinitely, even after...
Raymond J. Saulnier, chairman of the Council of Economic Advisers under President Eisenhower, told the conference that a tax cut should not exceed $2.5 billion and should come solely in corporate income taxes. He, too, urged that the line be held on federal spending...
...after a while. And by the time Bissell comes out with "a temper like a keg full of rattle-snakes" we know we have had one simile too many. The tolerance limit is 17 pages a day. And only members of Richard Bissell's immediate family are advised to exceed...