Word: reinvestments
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Another scenario points a way out of today's energy dilemma. Oil-exporting countries should price oil at levels competitive with those of other energy sources and then reinvest the revenues in the rich nations. This would establish, the report says, "a real partnership between the economies of the oil-producing and oil-consuming regions." But the authors do not seem to worry about the effects of this strategy on developing nations now being driven to the verge of bankruptcy by high oil prices or how it will prevent all wealth from eventually ending up in the Middle East...
...sold the Fifth Avenue co-op where he had lived while practicing law on Wall Street. The price was $312,500, or $142,912 more than his original purchase price plus the value of improvements and incidentals. The law allows homeowners to avoid such profits as long as they reinvest them within a year in another "principal residence." The President claimed that he had done so by using the $142,912 to help buy his San Clemente home. Yet in order for Nixon to escape paying state income taxes in California, his lawyers later argued that the President occupies...
...municipal bonds. That job gave him an income more than sufficient to support his wife Carol and seven children: his share in Salomon's profits by the time he left was estimated at $2,000,000 to $3,000,000 a year (much of which he had to reinvest in the business under a company rule). His move to the $42,500-a-year Treasury job must have involved one of the biggest income reductions ever taken by anyone to come to Washington...
...decades Americans-as well as Canadians and Europeans-have avoided taxes on some or all of their income by placing money in "offshore" real estate developments, banks and other companies located outside the U.S. The principal headquarters for these outfits, many of which reinvest their capital in U.S. securities, has long been Nassau, capital of the Bahamas. It is listed as the place of incorporation for thousands of businesses that actually have their assets elsewhere. Suddenly, much of the world's offshore money-a lot of it hidden from homeland tax men or otherwise "hot"-is fleeing Nassau. Millions...
Critics of present policies maintain that the University does not need to reinvest all capital gains to keep endowment rising at a pace fast enough to stay ahead of inflation. They say that some of the increase in the value of the University's stocks should be used for current ex- penditures, especially in a time of economic recession...