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First, let us look at the problem A not too uncommon scenario follows...

Author: By M. CHARLES Mason, | Title: No More Free Lunches | 3/18/1982 | See Source »

...This scenario presents a poignant reason today to change the tax loophole in the Internal Revenue Service regulations. Each day, businesses, individuals, law firms banks and consulting companies buy free lunches for their customers clients, friends, and fellow business persons. Often they swap lunches every other day by saying, "tomorrow your firm or business will buy me lunch" The lunch, or business inducement. Is now tax free to the recipient without an IRS definition that it constitutes "income from whatever source derived" as the income tax statute states. This means that the recipient gets a free lunch or "income," without...

Author: By M. CHARLES Mason, | Title: No More Free Lunches | 3/18/1982 | See Source »

Despite the apparent folly of this quandary, such a scenario is currently being played out in the otherwise quiescent law-abiding game of tennis. The imminent withdrawal of Bjorn Borg and Ivan Lendl--two of the game's reigning troika--from Wimbledon has confounded the complacent tennis establishment, Lendl and Borg's threatened decisions not to play in the game's most prestigious tournament highlight the damage single-minded prima donnas inflict on the sport's reputation. Formerly distinguished by its courtly respect for propriety and unwaivering adherence to time-cherishes customs, tennis now suffers from an image crisis...

Author: By Steven M. Arkow, | Title: Tennis Served a Double Fault | 3/16/1982 | See Source »

...term define it, quite imprecisely, as a prolonged period, perhaps two or three years, during which output and incomes shrink and business bankruptcies and unemployment rise to heights not seen since before World War II. Says Alan Greenspan, who was chief economic adviser to President Gerald Ford: "This scenario still has a low probability, but it should no longer be put into the bizarre or kooky category...

Author: /time Magazine | Title: A Season of Scare Talk | 3/15/1982 | See Source »

...this death and destruction is logically projected in a spirit of gamesmanship. Yet How to Make War is far more than "Dungeons and Dragons" for grownups. One Dunnigan scenario of how World War III could come about touches on the irrational, which is history as it endlessly reveals itself: "A vicious circle develops as each side suspects the other of superior technical performance. Lacking any means to validate this performance, the claims become even more outrageous and expensive ... In Russia, where the spirit and practice of the Potemkin village (a false front, as in motion picture sets) still lives...

Author: /time Magazine | Title: Books: Rethinking the Unthinkable How To Make War by James F. Dunnigan | 3/8/1982 | See Source »

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