Word: nationalizes
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Dates: during 1970-1979
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...What the nation's most populous state last week refused to accept was the soaring, inflation-fueled rise in its property taxes. In the most radical slash in property taxes since Depression days, Californians voted themselves a 57% cut?more than $7 billion?in the levy that hurts them most, the tax on the rising value of their homes. Ignoring warnings that schools may not be able to educate, libraries may close and crime rates may climb, the voters further decreed that any local tax hereafter may increase no more than 2% a year?substantially less than the anticipated hikes...
Compelled to act swiftly yet fairly, Californians must now try to answer those difficult questions as best they can. Surely the rest of the nation will be watching their performances very closely. For how California fares in the wake of Proposition 13 may well set public tax and spending patterns for many years to come...
...great corporations of this country were not founded by ordinary people," he says. "They were founded by people with extraordinary energy, intelligence, ambition, aggressiveness. All those factors go into the primordial capitalist urge." M.I.T. Professor Louis Banks takes the next step. It is now plain all across the nation, he says, that many of those business folks do a better job of problem solving than the Government...
There are a few signs that the rich nations are becoming more interested in aiding LDCs. The West German government is preparing some actions to announce at next month's economic summit meeting, in Bonn, of the seven biggest industrial powers. Included: cancellation of debts owed to West Germany by some of the poorest countries. Japan promises to increase its foreign aid to $2.2 billion by next year, double the 1976 figure, though still a pittance in comparison with the nation's $29.6 billion in monetary reserves...
...last week, in a decision that startled editors across the nation, the U.S. Supreme Court reversed those rulings. In a 5-to-3 decision, the high bench concluded that police seeking evidence do indeed have the right to push unannounced into a newsroom?or any other place?as long as a judge has issued a search warrant, even if the occupant is not suspected of involvement in a crime. The majority rejected the contentions that police should first seek a subpoena, which can be contested in court, and that freedom of the press under the First Amendment gives newsrooms much...