Word: marketeers
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Dates: during 1970-1979
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...highest state sales taxes: 6%. Because the stiff state income tax is withheld, it is relatively painless. But property taxes must be paid in a lump sum twice a year-and this hurts. Moreover, since 1971, property has been taxed at rates ranging from 3% to 3.5% of real market value, and that value has been soaring; many homes have tripled or quadrupled in value in the past five years. Homeowners' incomes have not nearly kept pace with their rising tax burdens...
...Jarvis proposition would check such increases by limiting the tax on all property, commercial as well as residential, to 1% of its market value. If a house has not been sold since 1976, the cash value would be whatever appeared on the public records in that year-another rollback from current sales values. The proposition would limit any tax raise by local governments to 2% per year and require any new statewide taxes to be approved by a two-thirds vote of the legislature...
...makes no difference whether the foreign funds are scared money fleeing political and economic uncertainties, or entrepreneurial investments seeking opportunities for profit. An open-door welcome for all is the least that can be expected from the world's principal champion of free-market capitalism. For all its problems, the U.S. remains a land where foreigners by the millions still see immense potential, plentiful resources, an unshakable faith in the sanctity of private property, and a trust in the rewards of initiative. Now that they are able to afford it, there is nothing that should stop them from trying...
...Wages are going to be bid up, because in another month or two we will have run through all the available skilled people. The labor market is going to get tight, and we're going to be hiring people away from each other...
...started with a $1 purchase on a 1971 vacation jaunt. Jerry Dantzic, then 45, a photography professor, was picking over the odds and ends in the Freeport, Me., flea market when his eye caught an old photograph of some 2,000 Protestant ministers. He bought the picture and took it back to his Brooklyn studio. Looking at it with a magnifying glass, he marveled at the tack-sharp faces and the lack of dis tortion at the ends of the long horizontal photograph. "It suddenly occurred to me," says Dantzic, "that I had no camera in my studio that could...