Word: interest
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Dates: during 1970-1979
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Under his startling scheme, Americans no longer would pay taxes on their total income, which includes savings that are now actually subjected to double taxation (first when the money is earned and later when it draws interest or dividends). Instead, they would pay taxes on only the money they spent, thus creating a powerful incentive for saving. Impossible? Not at all, says Boskin, who adds that since interest and dividend payments also would be tax exempt, U.S. capital accumulation would rise to new highs, thus revitalizing the private sector of the economy...
Perhaps if Coppola had succeeded in his efforts to recruit a star for the part, Willard might have commanded an audience's interest and empathy by sheer force of personal magnetism. Having no star, the director tried a more desperate solution: he commissioned Journalist Michael Herr (Dispatches) to write a narration that attempts to fill in Willard's personality ex post facto on the sound track. That narration-alternately sensitive, psychopathic, literary, gung-ho and antiwar-is self-contradictory and often at odds with Willard's behavior. It does not establish the protagonist as a credible figure...
...filed suits on behalf of the relatives of 22 victims in the Chicago crash, charges that the insurers traditionally stretch out the litigation to hold on for as long as possible to the large sums of money they will inevitably have to pay out. The interest on the money alone is worth millions; Kennelly argues that that interest should be added to the final award...
...Andrew Young's resignation and the Mexican oil spill may be followed by playful reports on a teen-age Soviet black marketeer ($100 for blue jeans, $200 for a new Kiss album) or an interview with Marxist Professor Bertell Oilman, who invented the board game Class Struggle. When interest rates soared last week, All Things Considered explained the event by staging a 10-min. mock Italian opera, Grosso Interesso, with professional singers, orchestral accompaniment and cunningly dubbed voices of real Government economic policymakers...
Three years ago, the Journal began selling space to individuals and interest groups that want to put their money ($1,500 a page) where their mouths are. Former HEW Secretary Joseph A. Califano Jr. held forth for seven pages (paid for by Xerox Corp.) on the economics of aging, and Jimmy Carter was given two pages (on the house) to explain how the U.S. health-care system "rewards spending and penalizes efficiency...