Word: grosse
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Dates: during 1950-1959
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...that the 1954 bull was a different breed from any other that had gone before. From almost every angle he seemed made of muscle. He stood against the background of an entirely new economy made up of many industries that did not even exist in 1929, and with a gross national product more than three times as big. Corporate profits, helped by the death of the excess-profits tax, totaled $17 billion in 1954, down 6% from 1953, but 100% above the 1929 level. On top of that, Americans in 1954 proved they knew how their giant economy worked...
...year. What was the outlook for 1955? For the first six months, better than ever. Beyond that, the economic weather was not so clear. But there was hope that if the first-half upsurge continued, 1955 would be the best and biggest business year on record, with a gross national product of perhaps $370 billion, up 4% from 1954. Some of the goals...
...spots in 1955 there would be a host of counterbalancing strengths in the economy, as there had been in 1954. The economy had grown so fast that the debt, like defense spending, was not the burden it once was. In 1945, for instance, the debt equaled 129% of the gross national product; now it was only 76% of the G.N.P. And the economy was still growing not only in productive capacity but in the number of consumers...
...Gifts to churches, conventions or associations of churches, educational organizations and hospitals can be lumped in a new category, tax-free up to 10% of gross income. The regular 20% deduction for charity can be applied to other kinds of donations, such as Community Fund, Salvation Army, etc. Thus the giver can claim deductions for gifts representing up to 30% of his income...
RADIO & TV SET competition is getting so tough that Stewart-Warner Corp. (electronics, lubricants, auto and aircraft products) will get out of the business after 31 years. Stewart-Warner, whose gross dropped from $129 million to around $100 million last year, as a result of poor sales on home radio and TV sets, will close down its production lines for consumer goods, concentrate on developing electronic products for commercial and military customers...