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...Cazzaniga, who reported that that was the custom in Italy. Pointing out that camouflaging the payments also enabled the company to deduct them from its Italian income taxes, Subcommittee Chairman Frank Church of Idaho charged that Exxon was practicing "a fraud on the Italian government." Moreover, subcommittee experts reckon that the favorable legislation resulting from the payments was worth 20 times more to Exxon in Italy than the amount of its contributions...

Author: /time Magazine | Title: SCANDALS: The Biggest Payoff | 7/28/1975 | See Source »

...would actually shrink the budget deficits in future years. So long as the economy remains underemployed, tax collections will be low, and deficits will be huge. Each $1 of output in private enterprise adds about 400 to the tax revenues of the federal, state and local governments. Economists reckon that if the U.S. now had a "full employment" economy, it would be producing some $175 billion more goods and services annually, and federal and state governments would be collecting $70 billion more in taxes, thus reducing or eliminating their deficits...

Author: /time Magazine | Title: UNEMPLOYMENT: America's New Jobless: The Frustration of Idleness | 3/17/1975 | See Source »

...articulate Defense Minister Shimon Peres, 51, the second most important man in the Israeli Cabinet, has emerged as his country's leading hawk on the crucial question of how to negotiate with the Arabs. He is thus a man that Premier Yitzhak Rabin (not to mention Kissinger) must reckon with. Peres almost defeated Rabin for the premiership last April, and is a plausible candidate to replace him if Rabin should falter...

Author: /time Magazine | Title: ISRAEL: Shimon Peres: Hawk in the Wings | 3/3/1975 | See Source »

...great, but it does help make him interesting; and probably no one had more impact on William Blake than John Henry Fuseli. To look at Blake's nudes and then at Fu-seli's, with their rhetorical gestures and armor-plate muscles, is to sense this. Then reckon in Fuseli's eccentricities, which though irreligious were akin to Blake's own, and it seems clear why the younger painter spared Fuseli the contempt he felt for nearly every other English artist of his day. Fuseli was not "normal." His images are full of paranoia. He boasted...

Author: /time Magazine | Title: Art: Painter Possessed | 3/3/1975 | See Source »

Although the retired Eisemann now claims to have exercised no interest in Harvard Square politics and never held a position in the Chamber of Commerce, several Cambridge reformers insist that he was a force even Crane had to reckon with. He still exerts influence as treasurer for select CCA candidates on the Cambridge ballot...

Author: By James Cramer, | Title: Part I: The Rise of Eddie Crane | 2/7/1975 | See Source »

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