Word: profiteered
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Dates: during 1970-1979
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...committee has long been an advocate of using good nutritional practices to improve health. One preventive health measure that the Committee has been fighting to get passed for over two years is the National Meals-on-Wheels Program. This program would fund non-profit organizations which provide one free hot meal a day to homebound elderly or disabled individuals who could not otherwise get a hot meal in their homes. So far the Subcommittee on Aging, which has jurisdiction, has refused to even hold hearings on the Meals-on-Wheels bill. Furthermore, the committee has been forced by politics...
...other hand, Treasury would take a more lenient than expected stance in taxing money from the sale of a family home. At present, profits on such a sale are not taxed so long as they are reinvested in another home within 18 months. Treasury now proposes in addition to exempt the first $75,000 profit on the sale of a home even if the seller puts the money in the bank rather than using it to buy another house...
Even more unexpected, Treasury, against the vigorous opposition of some liberals, has proposed to Carter that people selling assets held for ten years or more be taxed only on the amount of the profit that exceeds the rise in the consumer price index occurring between purchase and sale. Investors have long argued that it is unfair to tax them on long-term capital gains made illusory by inflation: if, for example, an asset held for ten years is sold at a dollar profit of 50%, but prices have risen 50% in that time, the seller has only held even...
...deducted in full from ordinary income, with one exception: only $10,000 of net losses on marketable securities (primarily stocks and bonds) could be deducted from ordinary income in one year. Assume, for example, that an investor sold some stocks at a loss of $50,000 but realized a profit of $20,000 selling other shares, producing a net loss of $30,000. He could deduct $10,000 from his taxable wage-and-salary income that year; the remaining $20,-000 could be deducted in future years...
...which last year earned a $90 million profit on revenues of $803 million, seems determined to make what it sees as a good investment. MCA is loaded with extra cash-$153 million in all-and needs a place to put it. Coke-L.A. shareholders have until the end of this week to decide whether to take MCA's offer. If they do, the acquisition will move the movie business toward controlling not only what audiences see but what they buy in the lobby. Twentieth Century-Fox has taken over Coca-Cola Bottling Co. Midwest in St. Paul...