Word: soaks
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Dates: during 1960-1969
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...million of the $4 billion in fresh taxes provided for in Britain's latest austerity budget. By taking money from British pockets, the whole tax package is generally intended to dampen demand at home, thus help ease the country's chronic balance of payments deficit. The soak-the-rich character of the investment-income levy has the added political purpose of pleasing left-wing members of Harold Wilson's ruling Labor Party...
Final Victory. Although the Senate version excused loans with less than $10 interest, the House put them back in the bill, because small loans are the ones that most often soak the poor. A Republican amendment even made loan sharking a federal crime worth a max imum 25-year prison term. The House demonstrated its greatest solicitude for consumers, however, in an amendment to guard the first $30 of any paycheck from garnishment actions, in which creditors sue employers for part of a debtor's salary. Garnishments were limited to 10% of anything over $30, and employers were barred...
...While the government is patting its own back, while comedians think it the greatest subject for laughs since mothers-in-law, and while the British public soak in the propaganda about it being "for the good of our society"-surely people can see that the Breathalyser test [Oct. 20] is no different than being forced to take a lie detector test for a suspected crime, and making the results admissible evidence in court. So much for democracy...
...towns" policy. While about 300 planned communities are now under way across the country, most are merely glorified housing developments. Only three-Reston, Va., Columbia, Md., and Irvine, Calif. -are nationally recognized as new towns. Because they must show a profit, however, even these will not be able to soak up more than a handful of low-income people. Without eminent domain and the resources of a government, the obstacles to building a new city are enormous. To acquire land for Columbia without driving prices to the sky, for example, developers had to use all kinds of cloak-and-dagger...
When the annual step-by-step reductions begin next Jan. 1, U.S. consumers stand to pay lower prices for many imports-if inflation and middlemen do not soak up the tariff savings. The wholesale price of a $300 Japanese motorcycle will decline to $297 in 1968, finally level out at $286 in 1972. Other reductions will be substantial. Tariffs will fall from 1210 to 60 a gallon for beer, from $1.02 to 510 a gallon for Irish and Scotch whisky. Duties will come down 50% or more on such items as silk scarves (to 16%), diamonds over 1 carat...