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...laws of the United States, or because of his having so exercised the same . . . they shall be fined not more than $5,000 or imprisoned not more than ten years, or both." The other two were charged with failing to give information about a felony?which carries a maximum $500 fine and three-year prison term...
Several of Reagan's advisers think the President should distance himself from the House panel's bill and let it die quietly. They oppose many parts of the legislation, including the new maximum tax rates for individuals and businesses. But many politicians think that Treasury Secretary James Baker, a noted pragmatist, will persuade the President to go along with the plan. Reagan wants to leave behind a legacy of tax reform, and the Ways and Means proposal is the only tax bill in town. If the President helps push it through the House, there is still an opportunity to make...
...have purchased extended-wear contact lenses, which were introduced six years ago. Like the others, she was attracted by the convenience of the devices; they are more comfortable than hard lenses, easier to care for than traditional soft lenses and have Food and Drug Administration approval for a maximum of 30 days of continuous use before being removed for cleaning. But along with the soaring sales has come an alarming increase in complications, complaints and lawsuits against lens manufacturers and retailers. Lens-related infections like Melzer's have become so commonplace, says Dr. Kenneth Kenyon of Massachusetts...
...services too. Ski-lift tickets are jumping by $2 or $3 at many resorts. Through last year Kennestone Hospital in Marietta, Ga., insured itself for the first $1 million of any claims that might be made and paid a premium of $70,000 for additional coverage up to a maximum of $10 million. Now the premium has quintupled to $350,000, and on top of that the hospital has had to come up with another $1 million for its self-insurance trust fund, because the deductible was raised to $2 million. Says Executive Director Bernard Brown: "If you come...
...case grew out of an earlier IRS ruling that Baxter's $1.2 million gambling winnings for the years 1978 to 1981 were unearned income--in the same category with dividends and interest. Under the tax laws that applied for those years, unearned income was taxable at the maximum rate of 70%. Baxter said the money was earned income, like a salary, which was taxable at a top rate of 50%. In 1984 he filed suit, contending that his winnings were the product of skill and hard work. Last week the U.S. district court in Nevada agreed and ordered...