Word: shultz
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Dates: during 1970-1979
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...George Shultz is a golfer, not a sailor, but he likes to describe his practice as an economic manager in nautical terms. A confirmed free-marketeer in an Administration whose economic policies blow hither and yon, Shultz learned to become a master tacker, but he never really learned to like it. Last week, after 22 tiring months as Treasury Secretary and more than five years in top economic posts, Shultz announced that he will resign and leave the Government...
Simon still has the solid support of President Nixon-so much so that Nixon is expected to appoint Simon Secretary of the Treasury later this spring when George Shultz is likely to step down. He has also earned high marks from a group who might be considered Simon's natural enemies: liberal Democrats in Congress. Says Illinois Senator Adlai Stevenson III: "He's doing everything possible in a situation that's nearly impossible...
...clients, then bid for an industrial firm that he will not identify beyond saying that its brand name is a household word. He sees these moves as test cases that he will stage-manage carefully, probably clearing every step with Secretary of State Henry Kissinger and Treasury Secretary George Shultz...
...told oilmen that they receive unwarranted special preferences. The Nixon Administration has proposed a "windfall-profits tax" (actually an excise tax on sales), and will also seek to limit the amount of foreign tax payments that oil companies can deduct from their U.S. taxes. Treasury Secretary George Shultz calculates that if the limit were in effect now, oil companies this year would pay $400 million more in U.S. income taxes -about as much as Exxon will spend to expand the Baytown refinery. The windfall-profits measure will die if Congress legislates an oil-price rollback, but some increase in taxes...
...ever certain whether the capital controls sufficiently limited the outflow of money to be worth the effort of administering them. Treasury Secretary George Shultz strongly disliked them. Said Shultz: "Whatever net restraint really existed, the cost was high." Last week's removal immediately led other nations to take their own steps toward freedom. The governments of Canada, West Germany and Belgium said that they would lift their capital controls in response to the U.S. move, and The Netherlands is expected to follow suit...