Word: result
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Dates: during 1960-1969
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...side effects, ranging from the ridiculous to the calamitous. Ever since federal income tax rates soared during World War II, the opportunity to grow wealthy through hard work has been largely denied to salaried people. Instead, the road to riches twists through the thickets of tax avoidance. As a result, an inordinate number of man hours are spent in figuring out ways to outwit the collector. Because of its sheer intricacy, the tax code is one law that many Americans cannot even obey unaided. Providing such aid has created a flourishing literature of tax-tipstering and a thriving industry...
...will not be easy. Tax exemptions and exclusions have seldom been repealed. Instead, in the past 50 years, Congress has opened myriad new tax shelters to accommodate taxpayers who feel aggrieved by somebody else's privilege. An unfortunate result is mind-numbing complexity: the present Revenue Code (1,200 pages) runs longer than War and Peace. Albert Einstein called the federal income tax "the hardest thing in the world to understand." Contemplating his own return, he remarked: "This is too difficult for a mathematician, It takes a philosopher...
...deducted $465,396 for state and local taxes that he had paid and wrote off another $5,543 in medical expenses and $24,129 in miscellaneous expenses. He donated a staggering $4,080,614 to charity, mostly in property that had originally cost him far less. As a result, he owed the Government nothing...
...Ling is in trouble, and the Government's attempt to cut him down to size will only add to his problems. LTV has such heavy debts that the company faces difficulty in meeting the interest payments-about $45 million this year-out of current income. Partly as a result of the high payments, earnings are down. Excluding such special items as the sale of the LTV Tower in Dallas, profits in 1968 were off 18%, to $28 million; in the year's fourth quarter, they plunged 58%. In order to finance the takeover of J. & L., Ling...
...elucidate the parapolitical function of modern spying, Hagen explores the development of espionage agencies and re-examines most of the outstanding cold war spy cases, frequently offering intimate glimpses of the spies themselves. The result is a little like watching a three-dimensional chess game played on a European chessboard with flesh and blood pieces. "Pawn takes pawn" is the most chillingly frequent move, and the most desirable outcome for both sides is a stalemate...