Word: modest
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Dates: during 1960-1969
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Diminished Symbol. The Senate did make a modest start on tax reform, and further amendments were held over for voting this 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...
...always Joe Kennedy's emphatic wish that money never be discussed, at the family dinner table or in public. "It's just not an important enough matter to talk over," he said. His assessment was much too modest. Money underlies the family's unique position in American life, although money does not fully explain it. The Kennedy wealth, like the family's political capital, is both large and arcane. TIME asked Richard J. Whalen, Kennedy's biographer (The Founding Father), to take a fresh look at the fortune on the founder's death...
...encouraging absence of polemics and posturing. Each side seemed earnest and genuinely eager to get down to the essentials of the difficult and long bargaining that was bound to precede an arms agreement. Unlike most international conferences that meet amid splendor and pomp, the arms talks were held in modest, almost cramped surroundings. In order to accommodate a conference table, a glass partition had been ripped out between two offices in the U.S. embassy. Even so, the room was hardly large enough to hold the negotiators and translators...
...Modest in scope, but significant in impact," said Richard Nixon of the foreign-trade proposals that he sent to Congress last week-and so they were. While his message reaffirmed the nation's 35-year-old commitment to freer trade, the President sought only minor new authority to cut tariffs. In effect, he promised that any Nixon Round of trade negotiations would consist only of hard-headed international horse trading...
...Ryals, a retired civil service worker, "and it looks as though that's the way I'm going to leave it." His lament is becoming familiar among the thousands of Gulf Coast victims of last August's Hurricane Camille. Nothing remains of the crippled Ryals' modest frame home near the beach at Gulfport, Miss., and he and his wife now live in a leased trailer on their hurricane-stripped lot. His insurance company offered to pay only 25% of his claim, says Ryals, so he has hired a lawyer to sue for more. That may take...