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...taxes generously, particularly the capital gains tax. While the House trimmed the top capital gains tax from 49% to 35%, the Senate committee cut it to 25%. Treasury Secretary Michael Blumenthal warned Long to reduce the capital gains tax cut to avoid a veto, but the Senator paid no heed. The Senate followed the House in reducing the corporate income tax rate from 48% to 46% and in raising the personal exemption from $750 to $1,000. Altogether, the House voted a $16.3 billion tax reduction; the Senate bill upped the figure to $23 billion...

Author: /time Magazine | Title: Nation: We're Taking Control | 10/9/1978 | See Source »

Snags immediately developed. B.R.A.C. Chief Fred Kroll refused to heed Carter's order until he got a court-backed guarantee that no reprisals would be taken against union members by the railroads. Then a U.S. district court in Washington postponed a decision on a rail industry call for a no-strike injunction against the union; the court questioned whether the Railway Act empowers the White House to halt a strike already in progress...

Author: /time Magazine | Title: Business: The Week the Trains Stopped | 10/9/1978 | See Source »

...control their own forces. Many guerrilla commanders consider missionaries part of the country's administrative structure and may make religious groups targets for terror to undermine government control and encourage white flight. One guerrilla commander told TIME: "We've warned the missionaries to leave. If they don't heed our warnings, we can't help it if they get killed...

Author: /time Magazine | Title: Religion: Going Beyond Charity | 10/2/1978 | See Source »

...weeks ago during protests against the regime of Shah Mohammed Reza Pahlavi. Martial law prevailed, and troops and tanks patrolled the streets of Tehran and eleven other cities to enforce a rigid 10 p.m.-to-5 a.m. curfew. At least eight curfew violators were shot dead for failing to heed orders to stop. Six soldiers and a civilian died in a fire fight in Tabriz after saboteurs attacked their patrol. Security was tightened around the offices and refineries of the giant National Iranian Oil Company to prevent sabotage, but so far there was no open challenge by radical elements...

Author: /time Magazine | Title: IRAN: Second Thoughts--and Chances | 9/25/1978 | See Source »

Asked if he foresees any danger of a Communist takeover, Sharietmadari said: "I am afraid that if the situation worsens, and it could, a foreign power will interfere. If the government would heed our warning, there would be no danger of Communism. If it does not, then I am afraid it will be the Communists' gain...

Author: /time Magazine | Title: World: The Gentle Scholar of Qum | 9/18/1978 | See Source »

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