Word: slashings
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Depletion Cut. The key feature of the House committee's reform plan was a slash in depletion allowances on oil and certain other extractive products. The law that is now on the books permits oil-well owners to deduct from their taxable incomes 27½% of the value that each well produces regardless of drilling or operational costs. Long deadlocked over the question of depletion cuts, the committee finally approved 18 to 7 a proposal to drop the allowance to 20%. The compromise move, which surprised even Committee Chairman Wilbur Mills, came after Louisiana's Hale Boggs...
...Japanese use acid sprays to disintegrate trouser pockets. They're experts at removing tourists' cameras: just lift gently and slash the strap...
DURING the past 23 years, more than half of the world's governments have been overthrown by coups d'etat. Conspirators are increasingly aware that complex societies are vulnerable to attack. Slash a wire, start a rumor, dump LSD into reservoirs: today any determined guerrilla can stop The System. One man with one bullet can change history. A handful can take over a country...
...summer heat, well over 100°, shimmers oppressively over the Jordan Valley. Hardly anything moves. It is only at night that the valley comes to life, for night is the time of the fedayeen, the Arab guerrilla raiders who slip toward the river for another hit-and-run slash at Israel's defenses. "We live like roaches," a fedayeen commando said last week. "I do not like this sneak war. But it is the only way for us. There is no army to fight by our side...
...practice, the program-designed to finance medical care for the needy-has proved to be a tremendous drain on state treasuries as well. Even though federal handouts cover at least 50% of the costs, several leading Medicaid states -including New York, California and Michigan-have been forced to slash aid to their "medically indigent" because the runaway rise in hospital, drug and doctors' bills threatened to engulf their budgets in red ink. Now Medicaid's first state dropout has taken place...