Word: excessives
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...transportation is given them for jobs located outside the city. This program has two substantial effects in Forrester's model--raising the number of jobs relative to Workers, which increases the upward mobility of the Underemployed, and vastly swelling migration of the Underemployed to the city. Having plenty of excess Underemployed Housing around to absorb large numbers of immigrants, the city winds up with the same sort of problem in the end, but on a larger scale. In addition, because Underemployed require higher percapita tax expenditures for police and welfare, the local tax burden rises. This has the effect...
...unions' demand for an excess profits tax is a far stickier matter. To A.F.L.-C.I.O. Economist Arnold Cantor, the issue is simple equity. "The income of wage earners is the wage; the income of business is profits," he says -and if one is limited the other should be too. By almost any measure, however, profits are not now excessive but depressed. U.S. corporate earnings after taxes, at an annual rate of $46 billion in this year's second quarter, were actually lower than in 1965. Many economists agree with Walter Heller that "an excess profits...
...Last week Allende announced that Chile will deduct $774 million in "excess profits" from the compensation due to Anaconda and Kennecott (Cerro's mine began production only last year). In effect, that means that the two companies will receive not a penny for their properties. The $774 million figure was arrived at through a complex formula. The Allende administration estimated each company's average worldwide copper profits over the past 15 years as a percentage of its book value and came up with a figure of 10%. Any profits from the company's Chilean operation that exceeded...
...Allende has somehow computed Kennecott's alleged excess profits over the past 15 years to be more than our total earnings from Chile in that period," complained Kennecott President Frank Milliken, whose firm has been a particularly good corporate citizen in Chile. Said Anaconda President John Place: "Allende's accounting theory is nothing more than a thin pretext for confiscation. He's now contrived to grab the world's biggest open-pit copper mine [Anaconda's Chuquicamata], plus a second major underground mine, and not pay a dime...
...next to Bill Bonanno on the morning commuter flight from San Francisco to Los Angeles wanted to talk football. Why not? The day before, the Colts had defeated the Cowboys in the Super Bowl. At 38, Bill-tall, his excess pounds disguised by gray pin stripes-looked much like the sort of man who tunes out the wife and kids each Sunday during football season to lose his cares in patterns of precision violence...