Word: holding
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Dates: during 1980-1989
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...only ten months. "If ACC goes under in ten months," she told him, "our whole economy is in trouble." Seven months later, ACC filed for bankruptcy and the retiree lost all his $65,000 -- "$1,000 for every year of my life," he wrote. Some 22,000 other customers hold $250 million worth of worthless ACC bonds...
...factor makes capital gains different from other forms of income: you can generally choose when to take them. In a world with no taxes, an investor would trade one investment for another whenever he or she thought the new one would be more profitable. In the real world, people hold on to investments they would otherwise trade in order to avoid paying the tax. That makes the economy less efficient. A tax break for capital gains would reduce this so-called lock-in effect. (Although, please note, this is exactly the opposite of one argument usually heard for a capital...
...said that the 1956 uprising, which the Soviets suppressed with tanks and the hangman's rope, was actually a "national independence movement." He declared the People's Republic of Hungary, so named in 1949, dead. Now it is the Republic of Hungary, an independent state with plans to hold multiparty elections. When speakers mentioned the U.S., the crowd cheered; for the Soviet Union, there were jeers. But along with shouts of "Russians, go home!," there were chants for the man who made the scene possible: "Gorby! Gorby! Gorby...
...Scott Fitzgerald once suggested that "the test of a first-rate intelligence is the ability to hold two opposed ideas in the mind at the same time." If so, America has developed a perverse sort of genius. Yet both national moods -- the urge to deny risk and the urge to insist that we can protect ourselves from it entirely -- may be traceable to the same unfailing optimism. In a culture that has long fancied itself a New World paradise, disasters seem impossible either to imagine or to tolerate. People expect to conduct the pursuit of happiness along a road that...
Competition in athletics at MIT is so strongly encouraged that the faculty sets aside the hours between 5 p.m. and 7 p.m. as a time when holding classes, tests or labs is prohibited. Coaches may hold practice during that time without trying to schedule around the 20 hours of class and labs that the average MIT student...