Word: offset
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Dates: during 1970-1979
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...will probably enact no more than half the reforms asked for by the Administration. One reason: some congressional leaders do not believe the time is right for revenue-raising tax reforms. They are worried that net tax cuts of only the size that Carter proposes would be more than offset by scheduled increases in Social Security levies, plus the so-called inflation tax (inflation automatically worsens the tax bite by pushing people into higher brackets as their incomes rise). House Speaker Thomas P. O'Neill, among others, fears that the economy could begin turning down just before next fall...
...rate on most corporate profits from the present 48% to 45% late this year, 44% in 1980. Another $2 billion would be provided by repeal of the federal tax on telephone calls and a cut in unemployment-insurance taxes levied on companies. The overall aim: to offset the bite of higher Social Security and energy taxes, which the President conceded would otherwise drag the economy down by the end of 1978, and give businessmen more cash to invest. If Congress agrees, the cuts will take effect...
Foreign buyers of U.S. aircraft exercise a stabilizing influence, even though U.S. planemakers do not necessarily like the way they do it. Increasingly, overseas purchasers are demanding "offset" arrangements-the right to assemble parts of planes they buy in their own factories...
...Operations of multinational companies. They get some benefit from a weaker greenback because profits earned in, say, West German marks or Swiss francs are worth more dollars to be sent back to the parent company in dividends, though this can be offset by the greater dollar operating costs abroad. Also, American-owned multinationals have been slowing down investment abroad. One reason is the sluggishness of European and Japanese economies. The drop of the dollar has added another reason, by increasing the amount of dollars that multinationals must spend to build, buy or expand foreign factories. Weakened American investment abroad prolongs...
...place. Barry Mendelson, 34, New York-born executive vice president of the Jazz, points out that "there was no real longtime legacy of pro basketball in the South." Yet the club has broken N.B.A. attendance records five times. The football Saints, whose mundane performance on the field is partially offset by their spectacular half-time shows, are also incurable domophiles. and have a ten-year lease on the Poydras palazzo...