Word: inland
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Dates: during 1950-1959
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...declared annual income was a guide, Britain was down to 36 millionaires. Remnants of a body 6,560 strong in 1939, this dwindling band had lost 24 members in a year, the Inland Revenue Board reported last week. The estimate is based on the number who had incomes of more than ?6,000 ($16,800) a year after taxes. In Britain that means a man must have ?1,000,000 invested at roughly 5½-or earn more than ?56,000 ($156,800) in salary...
...Said an Inland Revenue man succinctly: "Capital gains and expense accounts." Capital gains, whether they come from stocks, real-estate deals, or bets on the Derby, are untaxed in heavily taxed Britain. One financier recently made ?200,000 free and clear in three months in a foray into Savoy Hotel stock. The expense-account economy has been brought to a fine degree of urbane perfection. Firms buy their executives limousines with money that would otherwise go to the government. The country house is almost invariably a "farm" which regularly loses deductible money every year...
...more public responsibilities. Henry Ford II sounded the call for freer world trade, then put aside his auto job and went to work at the U.N., where his very name was symbolic of the high wages of the U.S. free-enterprise system. In his book, Freedom's Faith, Inland Steel's Clarence Randall, another of the new internationalists, wrote: "The new corps of business leaders . . . hold in their competent hands the future of free enterprise ... It is their mission ... to keep America strong." Then he accepted the challenge himself by heading a commission aimed at turning "trade...
...Brazil's coming men is Juscelino Kubitschek. 52, the trim, dynamic son of German-Polish immigrants who is governor of the Texas-sized inland state of Minas Gerais (pop. 8,000,000). When high-spirited Juscelino ran for office three years ago, he wooed the isolated backland voters with hillbilly songs (How can a fish live out of water? How can I live without you?) and dazzling promises of roads and electricity. Unlike many another Brazilian political charmer, Juscelino is making his campaign oratory come true. His slogan: "What I start I finish...
...even 15% of Finnish exports to Russia in sterling or dollars; 3) reopened the question of Finnish territory captured by the Red army in World War II. Moscow, said Kekkonen, was preparing to let Finnish lumbermen float log rafts down the Saimaa Canal, which connects their inland lakes with the Baltic, a canal which Russia annexed in 1947. Russia's only condition, said Kekkonen, was that Helsinki should "continue to follow a foreign policy of mutual assistance and friendship between the two countries...