Word: pay
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Dates: during 1960-1969
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Making Everyone Pay. Although the reduction of the depletion allowance and the tightening of write-off provisions that are now enjoyed by the oil industry are expected to bring in just $600 million a year in additional revenues, the psychological impact of the cuts would be great. The depletion allowances, whose whole purpose is to help offset the costs of finding and exploiting new mineral sources, are regarded by many as the most blatant example of special tax privilege for industry...
...federal income taxes entirely through tax-free investments or special loss and deduction allowances. Heeding widespread taxpayer resentment over the disclosure that 155 persons with incomes over $200,000 paid no taxes at all in 1967, Ways and Means approved a "minimum tax" plan that would require everyone to pay taxes on at least half his income. Combining proposals put forward by both the Johnson and Nixon administrations, the plan modifies the exemptions on capital gains and municipal-bond interest and eliminates the tax shelter provided by hobby-farm losses...
...proposed minimum tax plan would, if passed, produce nearly $100 million a year in revenues. The beneficiaries of this windfall would be wage earners, who now pay a higher percentage of taxes than most millionaires. Mills said that the extra funds would probably be used to cover an increase in the standard deduction of 10% of gross adjusted income claimed primarily by lower and middle-income taxpayers...
...Vietnamese military programs, in order to keep the budget under the $192.9 ceiling set by Congress. Viewing the surtax as his key weapon against the inflation that in June boosted the consumer price index by six-tenths of 1%, he has made it clear that he is willing to pay a price for its extension. Nixon last year indicated opposition to changing the oil-depletion allowance, but he will probably sign any tax-reform bill passed by Congress...
...want to give the impression that Cuba is without economic problems. There are serious problems, in labor productivity, in making investments pay, in earning enough foreign exchange, problems of inefficient in public administration. But, the progress that has been made towards equality and the commitment to what seems to me a more humane relation of man to production make Cuba a very exciting case study of the possibilities for a radical transformation of a poor society...