Word: speedups
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Dates: during 1960-1969
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These bothersome figures put more pressure on the Administration for quick across-the-board tax cuts. The Administration still had not committed itself on that. But last week Washington did respond with two milder stimulants:1) a long-awaited speedup in depreciation write-offs of industrial plant and equipment; 2) lowering the cash margin required in buying stocks from...
...Professor. The speedup in good high schools adds to the pressure: youngsters are set on graduate school long before they get to college. At Amherst, for example, an estimated 90% of entering freshmen plan to study five years or more. Swarthmore's Mary Murphy is going on to law school because "I want to fill my obligation to society." At highly selective colleges, the idea of skipping further study is now almost square. Says Radcliffe's Dean of Instruction Kathleen O. Elliott: "I don't know how many times I've had to convince a girl...
...cherish the values of general education-and four years of it in a liberal arts atmosphere. They see colleges becoming mere cram schools for graduate study, and at some prestige campuses, 90% of all B.A.s do go on studying (national rate: 33%). The generalists are also unhappy about speedup advanced-standing schemes in which students skip entire years. (They approve the extra-credit Advanced Placement Program.) At Harvard, Classicist John Finley argues that even ultrabrights need time to grow up. "A student can fly from the West Coast to Harvard in a few hours," says Finley, "but the soul...
Unlike the tax credit, a speedup in depreciation write-offs does not require congressional approval. By early summer, Treasury tax men expect to finish the monumental job of revising their rulings on the useful life of each of the myriad varieties of machinery used by U.S. industry. The shorter useful-life rulings will allow businessmen to deduct the purchase price of machinery from their income tax in larger chunks-and hence leave them with more after-tax cash to buy still more machinery. Though other industries are unlikely to get the whopping 40% depreciation speedup already accorded the hard-pressed...
...Kennedy proposal has melted considerably, and the tax credit now seems likely to be enacted. One blue-ribbon industrial group, the Machinery and Allied Products Institute, did much to swing opinion by pointing out that an 8% writeoff would have as much impact, for most industries, as a 40% speedup in depreciation writeoffs. President Kennedy has also helped his own cause by speeding depreciation schedules in the textile industry and promising that further liberalization is ahead in the railroad, aircraft and machine-tool industries. Businessmen are thus coming to believe that they can get both the tax credit and faster...