Word: million
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Dates: during 1960-1969
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...week. The 27½% oil depletion allowance, which has stood as a symbol of tax privilege since the Administration of Calvin Coolidge, was reduced to 23% in the Senate, a kinder cut than the House version, which put the allowance at 20%. The difference -which amounts to about $100 million in tax revenues for each percentage point-will be resolved in conference. But neither the House nor the Senate ventured to restrict the oilmen's privilege to deduct for depletion long after the costs of drilling have been recovered many times over...
...House: the repeal of the 7% tax credit that businessmen can claim on new equipment. The Administration wants to abolish the credit in order to slow down a capital-investment boom, but the Senate voted to exempt all equipment purchases under $20,000-an amendment that would cost $720 million of the $6.5 billion in revenue that the Administration hopes to gain from the bill...
Vast Gulf. In developing these priorities, the delegates demonstrated an amazing ability to cut through rhetoric to cruel reality: there are an estimated 15 million underfed Americans. In fact, the consensus statement seemed almost a victory over the conference format itself, which was encumbered with such panel topics as "Nutrition Teaching in Elementary and High Schools," and "Adults in an Affluent Society...
...ability to surmount China's immense domestic problems. In speeches delivered at secret meetings of the Politburo, he comes across as passionate and often earthy. All told, the documents amply demonstrate that Mao, now 75 and reportedly nearing death, left an imprint on China and its 750 million people that will surely prove ineradicable for generations to come...
...second hand an 11th edition of the Encyclopedia Britannica, published in 1910, for $30-50. Written by a generation of gentlemen scholars that possessed a literary taste we have lost, it presents all of science, medicine, history, geography, and the disciplines of the day in 40 million words. Imagine that in 2030, it will be possible to read an encyclopedia of 1970 with as much critical detachment as we today can bring to bear on one of 1910 ! Imagine that we could devise an education today that could cultivate now such detachment in anyone inclined to acquire...