Word: payes
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Dates: during 1980-1989
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...attitudes they come in with," says Cassandra Q. Butts, a second-year student at Harvard. "And people often come in with an interest in public interest, but with the emphasis here on corporate law, they don't always leave with that attitude. There's heavy recruiting by large, high-paying firms, and students see an insurmountable number of loans they need to pay...
...fact, some flatly refuse to pay their lawyers for pro bono work...
...prejudices the economy in favor of certain kinds of investment. Those who say we need to encourage entrepreneurs or long-term investors with this break (which actually would reserve few of its benefits for those charmed circles) are saying the Government can outguess the market about which investments will pay off. If a risky or long-term investment makes more sense than keeping money in a savings account, the market will reward it without any special incentives. Or at least, you'd better believe it will, if you want to call yourself a free-marketeer...
...current tax system discriminates against capital gains in one way: it ignores inflation. If a stock has doubled during a time when the general price level has also doubled, the real profit is zero, but you'll pay a capital- gains tax anyway when you sell. Of course, the same is true of interest -- an 8% return on a money-market fund at a time of 5% inflation is really only 3% -- but no one is proposing to do anything about that. Furthermore, no one is proposing to limit the deduction for interest paid. In a world with no taxes...
...reason is an unusual mixture of efficiency and political naivete at the Commerce Department, where Secretary Robert Mosbacher did not ask Bush to sign a waiver until he knew there would not be enough nonpolitical applicants to fill 2,700 management jobs, which pay up to $18 an hour...