Word: exempt
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...Uptrend. Brown promised that he would not raise taxes if reelected; rather, he would exempt 840,000 low-income residents from the state tax rolls. He says that he will increase state aid to local schools, but he will not permit any deficit spending. His basic theme is that California is prosperous and that he and the Democrats have made it so. "We have money in the bank and our credit rating has never been higher," he says. "Today employment in California is breaking all records. In just the past year, our economy has produced 238,000 new jobs. Wherever...
...with the sole function of educating technicians for the entire aircraft industry. By 1947, the two-year school was rolling in subsidized G.I. Bill students. McKinley, sensing an opportunity to make the school into a junior Caltech, bought it from Northrop and turned it by 1960 into a tax-exempt institution valued...
...every 800 Catholics, Latin America one for every 10,000-the council may approve procedures that would let the Pope transfer clergy to areas where they are most needed. Thanks to a plethora of papal charters and privileges, most of the church's religious orders are largely exempt from the jurisdiction of bishops. Dominicans and Jesuits, who are proud of their status as the Pope's spiritual elite guard, will object strongly, but the council may give bishops more authority over personnel of religious orders within their dioceses...
...pleasure; Boston's Old Guard ladies still meet to gossip in "Sewing Circles," though the original pretense, sewing for the poor, has long since been abandoned. There are more modern advantages in having an eleemosynary excuse for an enchanted evening: 1) costs are tax-exempt contributions, and 2) the socially ambitious will write big checks and work furiously for the chance to rub elbows with those who have arrived. Credit-by-association is used as a negotiable commodity by many of the Old Guard to do good in the world. "The very social Mrs. Lytle Hull," observes Society Photographer...
...statement about elderly widows and orphans is even more absurd. The new law would principally involve the seven per cent of taxpayers earning $10,000 or more per year who receive 80 per cent of the dividend total. Any person whose income is too low to be taxable could exempt himself from any tax on interest and dividends by filing a simple form. The accusation about red tape, especially after recent streamlining of the bill, cannot be justified. In fact, withholding a tax on interest and dividends before they reach the taxpayer would require far less red tape than tracking...