Word: profiteered
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Dates: during 1970-1979
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...YORK CITY APARTMENT. In 1969, Nixon sold his fifth-floor apartment on Fifth Avenue for $312,500. On his tax return for that year, he reported a profit of $142,912 on the deal but said it had been invested that same year in a new "principal residence," the San Clemente estate. By law, that meant the profit was not subject to tax. But in the year following the sale of the apartment, the Nixons spent only weekends and vacations?a total of 49 days?at San Clemente and also had claimed exemption from some California state taxes...
...been a capital gain, as Coopers & Lybrand also later found. But Nixon followed the advice of his tax accountant, Arthur Blech, who made some arbitrary valuations of the remaining property and concluded that Nixon had sold the land for as much as he paid for it?thus no profit. The committee staff, however, determined that the land was worth $1,031,164 at the time of the sale, giving Nixon a profit of $117,836, on which he should have paid taxes...
FLORIDA REAL ESTATE. As an investment, Nixon bought two undeveloped lots near his Key Biscayne estate for the bargain price of $38,080 in 1967, partly financing the deal with a $20,000 loan from Daughter Tricia. He promised her 40% of the profits, which he paid five years later after selling the lots for $150,000. That left Nixon a profit of $66,762. On his 1972 tax return, he showed a capital gain of $17,424?and paid tax on it. Presumably, his 1973 return will reflect the remaining $49,338. Splitting the amount between the two years...
Cottle's decision to play tape recorder--and a faulty one at that--is a serious violation of the burden which rests upon the social scientist. Poor people of this country do not need scientists who only wish to study and profit from them, but writers and concerned individuals willing to understand and support them as well. Cottle says he wrote Black Children, White Dreams with the hope that it would "in some way make a difference." Unfortunately, that difference will be in Cottle's lifestyle and not that of the poor...
...Expos. is to be looked on as Remedial Writing, then I can think of several students I've had who should certainly be released from it. But I do agree that most freshmen could profit from a good course in writing. SAT scores are no guarantee at all that a student writes well as far as I can see, and I've been teaching a middle group section all year...