Word: excessive
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Dates: during 1950-1959
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Last year Carroll F. Getchell, H.A.A. Business Manager, missed his guess by a scant 22,000. He had anticipated a seven game total of 124,000 where the actual sum was 102,576 paid admissions. This included a full house for the Yale game which grossed a sum in excess of $144,000 from 36,128 sun-drenched fans...
...repeal the excess-profits...
...they have all ignored the basic cause; there are too many farmers in the United States. A revolution in farming techniques has meant that fewer farmers can grow more than enough food to fill American stomachs. Competition with Canada, Australia, and Argentina has made the government unable to trade excess food in foreign markets except at prices well below parity. In business, this pair of events would force migration to other industries. But farmers have tenaciously clung to their homesteads, counting on governmental laws to save them from the law of supply and demand...
...most tempting plums in the Republican election year grab-bag was tax reduction. Eisenhower promised progressive cuts in income taxes, natural death of the excess profits tax, and a balanced budget to boot. The money for this financial revamping was to come mainly from a reduction in the out-sized military budget...
Unfortunately for the Administration, the Republican Chairman of the House Ways and Means Committee, Daniel A. Reed, matched Eisenhower's vigorous words with equally vigorous action. The bill he recently introduced calls for an eleven percent personal income tax reduction on June 30--the same day the excess profits tax expires. Should the two levies pass out together, the cost to the government would be six billion dollars. The planned reduction in excise taxes would raise this to eight and one half billions...