Word: reform
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Dates: during 1970-1979
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...Communist Party to be the usurper and the Soviet Union the robber. Demanding the restoration of "sovereignty and democracy," the manifesto called for "freedom of belief, thought, speech, information, assembly and work." It insisted specifically on the right to strike, on free trade unions, abolition of censorship and complete reform of the electoral system...
...business disaffection with Carter did not begin with the explosion at Big Oil -and it would now persist even if the President had called the oilmen a group of public-spirited gentlemen. As Carter's energy program has been gutted in the Senate, as his much-touted tax-reform program remains unborn, as high inflation and high unemployment persist, many corporation bosses have come to see he President as someone who particularly unnerves them: an incompetent, or-at least vacillating, Chief Executive. In their view, Carter has tried to tackle too many major problems at once-energy, taxes, welfare...
Taxes. The Administration's tax-reform program, which was originally supposed to go to Capitol Hill as early as September, has indefinitely been held up, and many businessmen take that as a sign of presidential indecision. Actually, the principal reason for the delay is that the Administration wants to get the energy fight out of the way first. In any case, it has inspired some wild-and false-stories in executive suites. Says J. Edwin Matz, president of John Hancock Mutual Life Insurance Co.: "It's rumored that the tax bill has things in it so horrendous...
Treasury's tax-reform proposals to Carter also contain many provisions designed to give business more money for investment. Among them: a cut in the top corporate tax rate from the present 48% to 46% or less; more generous investment tax credits; some easing of the double tax on dividends, which are taxed first as corporate profits and then as individual income to shareholders. Strangely, these concessions have made next to no impression on businessmen, who seem unwilling to believe anything good about the tax bill until it is sent to Congress with Carter's blessing...
Carter has his defenders in the business community. John D. deButts, chairman of American Telephone & Telegraph Co., calls the attention of his executive colleagues to the proposals favoring business in the draft tax-reform program. Sampson contends that businessmen are judging Carter too quickly. Says he: "It's almost as if he were being photographed every 15 minutes to see if he's aging gracefully. He can't turn the economy around in ten months, and anybody who suggests he can is a damn fool." Donald Frey, chairman of Bell & Howell, who has considerable doubts about Carter...