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Moreover, Ravenel believes that his energy program will help end inflation. He advocates the deregulation of gasoline prices and a program for controlled fuel consumption, hoping to reduce American dependence on foreign oil. In addition, he supports "cogeneration," a method of harnessing the steam and excess energy released from factory smokestacks. This method currently provides 29 per cent of West Germany's electrical needs, he says, and could provide up to half of America's demands...

Author: By Norbert J. Vonnegut, | Title: Facing a Tradition | 5/31/1978 | See Source »

...taxpayers could exempt up to $25,000 annually from U.S. taxes. Second, they could claim a credit for any foreign income taxes paid. The amendment would chop the exemption to no more than $15,000 a year and limit the credits for foreign taxes. It would also tax the excess at the rate that would have applied if the $15,000 were not exempt -in other words, force the taxpayer into a higher tax bracket...

Author: /time Magazine | Title: Business: Tax Squeeze Overseas | 5/22/1978 | See Source »

...must not think that the makers of this film intend merely to wow us with gaudy excess. No, no, no. They have soul. Quinn is discovered brooding sadly over his wife's beauty. Why does it make him gloomy? Because, he says, all beautiful things must eventually fade. That is in the nature of things. He is full of such slack epigrams, otherwise known as folk wisdom. Though this trait is more laughable than memorable, it serves the function of making him human, despite his wealth, his international wheeling and dealing, his lusty eye for wenches. Indeed, since everyone...

Author: /time Magazine | Title: Cinema: Yachts of Luck | 5/22/1978 | See Source »

Gossyplure proves the old adage that nothing succeeds like excess. When it is sprayed on a cotton field, it so saturates the air with female pink bollworm moth pheromone that the male moths sometimes go on indiscriminate sex orgies. They try to mate with sticks, stones, vegetation or anything else in the vicinity. However they react, they are seldom able to find the available females; they soon become so accustomed to the scent that they no longer respond to it. The result: a sharp drop in the population of caterpillar young -and crop damage. In field tests near Blythe, Calif...

Author: /time Magazine | Title: Environment: It Makes Scents | 5/22/1978 | See Source »

Carter further insisted that a tax cut of $25 billion, effective Oct. 1, is needed to create jobs, and that it "would not be inflationary." Since only 82% of the nation's production capacity is being used, he asserted, inflation is not being caused by the excess demand that would be aggravated by big budget deficits, but rather by "a cycle of wage increases, price increases that kind of grow on one another." Within hours, he had a congressional answer of sorts: in a preliminary vote on the budget for fiscal 1979, the Senate decided...

Author: /time Magazine | Title: Business: Clamor for a Smaller Tax Cut | 5/8/1978 | See Source »

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