Word: jannings
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Dates: during 1970-1979
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...White House was assertively supporting Shah Mohammed Reza Pahlavi, George Ball, an Under Secretary of State in the Kennedy and Johnson administrations, now acting as a special consultant to Carter, was reportedly recommending that the U.S. encourage civilian rule. Finally, Carter was getting ready for a Western summit Jan. 5 and 6 on the Caribbean island of Guadeloupe with British Prime Minister James Callaghan, French President Valery Giscard d'Estaing and West German Chancellor Helmut Schmidt...
...Moscow agreed with Carter's assessment that the Soviets had long expected the U.S. move, and that, as the President said, this week's SALT talks "will not suffer any adverse effect." If all goes well, the Carter-Brezhnev summit is tentatively set for sometime during the week of Jan...
...four. The consensus is two or perhaps three quarters. Eckstein calculates that corporate profits after taxes will rise only 5% next year, vs. 14% in 1978-and will go up even that modestly only because the tax rate on most corporate income will drop from 48% to 46% on Jan. 1. Arthur Okun, senior fellow at Washington's Brookings Institution, put the increase even after taxes at a round zero...
...home, inflation at the start of the year seemed stuck at a basic rate of 6% to 6.5%-which Carter considered "reasonable and predictable." But then price boosts speeded up from Jan. 1 onward far faster than anyone had expected. The 1978 rise of 9.5% compares with 6.8% last year. The increase was particularly unnerving because there was no obvious, overwhelming cause-no oil crisis or crop failure or wild speculative boom. Rapid inflation came to be recognized not as an aberration but as a terrifying built-in tendency, a consequence of too many demands being put by too many...
...capital gains (profits made on the sale of stock, real estate or other assets). Also, Congress and Carter eventually agreed to reduce the total tax cut from the $25 billion that the President had originally requested to $18.7 billion, and to delay its start from Oct. 1 to Jan. 1. While that might seem to flout the message of Proposition 13, policymakers correctly judged that message to be a protest against rising prices as well as rising taxes. A big, early cut, they reasoned, would only fan inflation by deepening the budget deficit...