Word: farms
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Dates: during 1960-1969
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Interior Secretary Stewart Udall suggested in 1941 that the farm should be made a national shrine honoring Frost-an idea now abandoned in favor of Frost's earlier home in Derry, N.H. But if the South Shaftsbury farm is to pass to another owner, could anything be more suitable than that the new owne/ should also be a follower of the muses...
...soup tureen. Fortunate is the man who inherits a 1912 Corona typewriter or an Atwater-Kent radio in plywood Gothic style. They are also lucky who have-squirreled away somewhere-cast-iron toys, lead molds, bubble-gum machines, wind-up phonographs, toy steam engines, pieces of farm machinery, embossed advertisements-in fact, any of the detritus of industrialism. It is wanted...
Nicknamed "the Ham" because he likes to pose for pictures, the copper-toned colt impresses everybody with his appearance as well as his record. His breeder, Leslie Combs II of Spendrift Farm in Lexington, Ky., raves: "He has looks. He has speed. He has courage. And, most important, he has done everything right from the very start." Majestic Prince has certainly done right by Combs, who sold him as a yearling in 1967 for the then record price of $250,000-to Frank McMahon, a Vancouver, B.C., industrialist...
...income above $10,000 that is eligible for favored treatment. Income would have to include the appreciated value of property donated to charity, and the ceiling would restrict the amount of deductions that a taxpayer could take for 1) oil-depletion allowances and intangible drilling costs, 2) excessive farm losses, and 3) rapid depreciation of real estate holdings. Nixon would also require taxpayers with more than $10,000 of tax-preferred income (including long-term capital gains) to allocate itemized nonbusiness tax deductions between their preferred and ordinary income. Total revenue gain: $500 million a year...
Other Administration proposals chip away at a variety of much-abused tax devices. These include some debt-securities popular with conglomerates, such tax shelters as farm losses and certain trust income. Another target is "multiple subsidiaries"-a method by which some companies split up into myriad separate firms to take advantage of the lower tax rates (22% v. 48%) imposed on businesses with less than $25,000 income. Nixon also took aim at some wild abuses by tax-exempt organizations. Among other things, private foundations would be required to substantiate their charitable activities and be barred from financial dealings with...