Word: makes
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Dates: during 1960-1969
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...Dylan has said more than once, it is all music to him. Why should he be impaled forever on the revolutionary edge of his early songs, even if his attacks on the "masters of war" and the "hard rain" of atomic fallout did help make him a myth in the first place? Now 28, happily married and the father of four, he seems to want to relax and write new songs about innocent pleasures and the delights of love...
Considering the Administration's determination to make federal spending match federal income, it was hardly surprising that Treasury Secretary David Kennedy asked the Senate to cut in half the $2.4-billion-a-year revenue loss foreseen in the House measure. Despite the rebellious mood of the nation's taxpayers, Secretary Kennedy recommended somewhat less relief for low-and middle-income individuals and families. In the most unexpected move of all, he asked that corporate income tax rates be reduced by 2 percentage points rather than increased or held at the current 52.8%. Nor would Kennedy move nearly...
Bias Against Investment. The Administration's aim, Secretary Kennedy explained to a mostly hostile committee, is to counter the House bill's "bias against investment in favor of consumption." That favoritism, he complained, "could impede economic growth by curtailing the incentive to make productive investments." Accordingly, said Kennedy, Congress should cut taxes on individuals by only $4.8 billion a year instead of $7.3 billion, and the total corporate tax intake should rise by only $3.5 billion instead of $4.9 billion. "We simply do not know enough about the future to commit ourselves" to any larger tax cuts...
...foundations, he proposed a 2% tax on investment income instead of the House's 7½% rate. He asked that the interest paid on municipal and state bonds remain taxfree; local officials insist that it would be extremely difficult to sell their bonds under House provisions that would make them partially taxable. Responding to protests by charitable institutions, Kennedy urged the Senate to drop House restrictions on the deductibility of certain donations...
...members of the Senate Finance Committee pounced on Kennedy's proposals. "You've taken $1.7 billion from the average forgotten American and given it to the corporations," complained Indiana Democrat Vance Hartke. Though some of the Administration's proposals-notably its defense of investment incentives-may make good economic sense, many of them are likely to be doomed by their lack of popular appeal...