Word: maximum
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Dates: during 1970-1979
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...heady plunge into the pot agribusiness began in 1973, when Oregon's legislature reduced the penalty for possession of less than an ounce of the weed to no jail sentence and a maximum $100 fine. Bookstores soon reported a brisk trade in manuals like The Complete Guide to Growing Marijuana. Cultivation still remains a crime punishable by a maximum ten years in jail and a $2,500 fine, but the more tolerant law on possession seemed to wilt the ardor of anti-dope investigators. "The police just don't care as much since the state decriminalized possession of less than...
...management firm. Says Teacher Frances Vandervoort, grandly: "By 1980 there a will be 300,000 jobs in solar energy alone, and we are helping prepare our students for these opportunities." At suburban Evanston Township High School, an architectural drawing program includes the study of solar heating, wind generators and maximum use of insulation. At a recent science fair at Brooklyn's Roy Mann Intermediate School, there was an impressive array of energy projects. One seventh-grade student, Chris Bonagura, 13, built a working model of a solar-heated home. He was Inspired when he became cold one night...
...amendment would undo almost a decade of egalitarian tax reform. The basic rule on capital gains has long been, and still is, that only half of them are subject to income tax; until 1969, the maximum tax on capital gains was 25%. But beginning in 1970, liberals who considered that tax rate to be an undue favor to the rich raised the maximum tax on the biggest capital gams reaped by individuals to 49.1%,* by far the highest rate in the industrial world; the top rate on corporate capital gains is 30%. Steiger would set the clock back to 1969?...
...compromise appears likely. The Administration has given up trying to beat Steiger, and is instead seeking to keep shallow any cut in capital-gains taxes. The hottest prospect is a reduction in the maximum rate to 35%. Meanwhile, the whole episode has shown politicians once again how deeply Americans have come to resent taxes. Says Richard Rahn, executive director of the American Council for Capital Formation, a lobbying group for lowering capital-gains rates: "Support for Steiger is coming not from the fat cats but from middle-income people yelling 'I want a chance to make...
...which go up to 70%, equivalent to a 35% tax on the capital gain. The other half is subject to some special taxes, including the minimum levy imposed on people who have incomes of $10,000 a year or more from tax-sheltered sources. These levies raise the effective maximum rate...