Word: lating
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Dates: during 1970-1979
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...have been sewn up. Indeed, Ullman chided Carter for having raised the reform issue without any acknowledgment of the many steps taken since the 1969 tax reform to remove inequities in the system. Long pointed out that much of the push behind reform derived from public fury in the late 1960s over some widely publicized reports about people with huge incomes who paid no taxes. Indeed, he said, one poll shows that many still think that more than half of all high-income people pay no income taxes. In fact, he insisted, because of reforms already put on the books...
That the subject should come up in that form at all is rather amazing. Capital gains taxes are levied on profits realized on the sale of stock, real estate, businesses or almost any asset held for twelve months or longer. As late as 1969 the lid on this tax was 25%; one of the supposed triumphs of the loophole closers of the mid-1970s was to raise that maximum to 49% now, and as recently as a year ago the Carter Administration was preparing a proposal to tax capital gams at full ordinary-income rates, which would have meant...
...phase of expansion. Growing twice as fast as in recent years, the amount of purchases billed on cards so far in 1978 is up 40%. Americans spend $16 billion a year on cards, and the total is expected to soar to about $50 billion in the late 1980s...
Diner's Club is offering checks through an arrangement with Thomas Cook & Sons; they are free, while American Express charges $1 per $100 in checks. Master Charge plans to begin selling traveler's checks, probably by late next year, and will allow them to be charged on its card. Visa is also considering a traveler's check venture...
...dressing up. "I love to get all duded up. It's one of the real me's," says Sissy Spacek, 28, who struts about in diamonds and furs for her first role as a mature woman in Heart Beat. The movie tells the story of the late Beat author Jack Kerouac and of Neal Cassady, a onetime car thief and the model for Dean Moriarty in Kerouac's 1957 novel On the Road. Spacek plays Carolyn, a well-bred commercial artist who is married to Neal. To research the role, Spacek read a 1,400-page manuscript...