Word: rated
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Dates: during 1970-1979
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...rate at which they have been expending ammunition up to now, Amin's remaining loyalists will run out of it very soon. Three weeks after Amin fled from Kampala, Uganda's capital, bands of Nubian mercenaries from southern Sudan continued to roam the countryside, looting and killing. A particularly outrageous atrocity occurred on the day after Easter. At Jinja, an industrial town 50 miles east of Kampala, pro-Amin troops seized a group of 130 Catholic parishioners arriving by bus with a black bishop from the town of Mbale. The parishioners were herded into a stockade...
...smart choices have been made, the brightest of all being the casting of Robert Duvall and Lee Remick as the leads. Duvall may not look much like Ike-the top of head notwithstanding-but he cuts a forceful figure. His Eisenhower is unfailingly decent, corny, shrewd: a first-rate general who would later grow into a caretaker President. Remick does not resemble Summersby too much either, but who cares...
From Saudi Arabia to Sumatra, from Nigeria to the North Sea, up comes the oil. And every day, 24 hours a day?at a rate of 30,000 gallons per second?the petroleum-thirsting world swills it back down in desperate, energizing gulps...
...companies, however, the credits produce a perversely beneficial result. Instead of simply holding their U.S. tax liability to the nation's corporate rate of 46%, which is what they are intended to do, the credits sometimes let companies pay no taxes at all on their foreign profits. The basic reason: if a company has to pay taxes of more than 46% on its profits in a foreign country, the excess is counted as a credit. Then the company can use the credit to reduce or even totally wipe out income taxes owed...
...Internal Revenue Service from profits earned in other countries, where the rate is lower than 46%. Income taxes in some OPEC states not only are much higher than 46% but are sometimes based on the price of the oil. That gives the companies large credits that they can use to "shield" profits from, say, refineries in Caribbean tax havens where there are low or even no taxes at all. Complains Washington Attorney Jack Blum, for eleven years a staff member of the Senate Antitrust and Monopoly Subcommittee and the Foreign Relations Committee, and now a frequent critic...