Word: formula
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Dates: during 1970-1979
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...financing proposal split straight down party lines. The Democrats, who sorely need the money, spoke in favor of it; the Republicans, who are well-heeled going into 1972, denounced it. The plan would allow a taxpayer to check off $1 as a contribution to the presidential campaign. Under the formula, each of the major parties would be permitted to spend up to $20.4 million in 1972, provided enough taxpayers cooperate. Lesser amounts would be given to minor party candidates; George Wallace, for example, would receive an estimated $6,000,000. A candidate would not be obligated to accept public financing...
Lessened Leeway. The costs-less-productivity formula is basically the one used by Kennedy and Johnson economists in the mid-'60s to gauge informally which price increases seemed justified. It was eventually criticized by labor leaders for providing too much leeway for businessmen to realize high profits. To overcome that objection in the current plan, the Price Commission added another stipulation: no firm will be able to increase its basic profit per unit of production by raising prices. Businessmen are encouraged to raise total profits by increasing sales, and they are also allowed to increase their per-unit profits...
...encourage businesses with relatively stable costs, rising productivity and expanding profit margins into cutting prices and increasing sales. The commission, however, can order price cuts only in unusual circumstances, chiefly when it finds that a company has raised prices unjustifiably. The first reaction of many businessmen to the complex formula was to order their accounting departments to calculate recent profit margins-frequently as the first step toward asking for price increases...
...prospect of wiping out its balance of payments deficit. He left it to the Japanese-who are well aware of their dependence on the American market for their exports-to figure out a way of helping to do so. It would be "presumptuous" of the U.S. to specify a formula for another country, he said...
...seemed in recent years as though Williams' formula was running thin; that he was serving up only faint imitations of his early plays. Don Bacon, however, has come up with Confessional, a play that Williams published last year and has never been given a professional production. Williams hasn't quite risen phoenix-like from the ashes, but he's regained enough of the old power in this short play to provide a strange and effecting evening...