Word: priced
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Dates: during 1960-1969
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...originate in the House of Representatives," the key man in writing tax laws is the chairman of the House Committee on Ways and Means, which handles all revenue-raising legislation. He has a pervasive influence on Government spending as well, since he can insist on budget adjustments as the price of any new tax measure. For eleven years that chairman has been Arkansas' Wilbur Daigh Mills, now 59. His economic sophistication and political acumen have made his word law with his committee members and the whole House. President Nixon has called for re-examination of all U.S. tax policy...
Except when partners are "severely alienated" or "deeply convinced that the other is mentally sick," Bach is certain that such passive and active hostilities provide man's rarest opportunities for forging real intimacy. "Authentic anger brings out truth," the authors write. "The pain of conflict is the price of true and enduring love. People simply cannot release all their love feelings unless they have learned to manage their hate." In group therapy with 250 pairs of pugilists, who paid $492.50 per couple for 13 "fight-training sessions" during the past six years, Bach has evolved a set of common...
...chairman of the President's Council of Economic Advisers. The main priority, observed Paul A. Volcker, the Treasury's new Under Secretary for Monetary Affairs, "is to regain control over inflation." Under Secretary of State Elliot Richardson added that "we intend to intensify our efforts to restore price stability and go about it promptly...
Fresh Pinch. As much as they pleased the Europeans, such reassurances were even more welcome to Americans, who have seen inflation ravenously and relentlessly eat into their real income. Inflation is reflected in price rises that reached an annual rate of 4.7% in December. It is particularly burdensome for the poor, who are least able to adjust to the ever higher cost of goods and services. By making U.S. products costlier and less competitive on world markets, it has also hurt the nation's bal ance of payments. Inflation's grip is so tenacious that it will undoubtedly...
Changing that psychology is Washington's most difficult economic task ahead. Some consumers and businessmen continue to pay sky-high prices for goods in the self-fulfilling expectation that prices are destined to rise higher still. Investors switch their money out of fixed-yield bonds and into stocks, which are a better hedge against inflation partly because buyers think that they are. Inflation has contributed to both the stock market overspeculation and Wall Street's glut of back-office paperwork. * Because of rampant inflation, unions increasingly demand unlimited cost-of-living wage increases instead of limited boosts. Complains...