Word: perring
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Dates: during 1960-1969
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...establish a "floor" on charitable deductions by making only contributions above two or three per cent of an individual's annual income tax-deductible...
...change a section of the tax laws that permits a taxpayer, under certain circumstances, to deduct as charitable contributions, amounts above the usual ceiling of 30 per cent of annual income...
...effects on Harvard of the second proposal--a floor on charitable contributions--are not quite as clear. This proposal would be to discourage smaller contributions of less than two or three per cent of annual income, and Harvard's donations come principally from larger contributions...
What one University source called "super-donors" would be hardest hit by the third proposal. At present, deductions for charitable purposes are limited to 30 per cent of annual income--unless an individual gives 90 per cent of his income to charity for nine years. After that, he can deduct all his charitable contributions, if they continue to be more than 90 per cent of his income...
...PREVAILING shortage of foods is likely to reach famine proportions during the next few months. Before the war Biafra was not only self-sufficient in food production, but the area exported some items to the rest of Nigeria. Proteins, however, have always been a problem, with 80 per cent coming from northern Nigeria and Europe. The land, sea, and air blockade imposed on this area by the Nigerians early in 1967, even before Biafra declared its independence, cut off normal food sources of proteins...