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...Many economists agree with Walter Heller that "an excess profits tax is a silly tax." It did not work well at all during the Korean War. Such a tax now might only prompt executives to hide their companies' real earnings by accounting sleight-of-hand, or to squander in expense-account living the money that they otherwise report in profits. Moreover, businessmen use earnings for a large part of their investment in plant expansion and modernization-and any reduction in that would not only make the U.S. less competitive in the world but reduce the number of new jobs...

Author: /time Magazine | Title: The Economy: Labor Builds a Stumbling Block | 10/11/1971 | See Source »

...experts warn that the Soviets, by improving the radar and rocketry in the SA-5 surface-to-air missiles now located around Russia's western cities, could upgrade that anti-aircraft system into an instant ABM network. More important is the argument that an ABM-only agreement would squander a bargaining chip. That chip is the U.S.'s Safeguard ABM, now under construction at Air Force bases in North Dakota, Montana and Missouri, which could be useful in getting the Russians to agree on a limit to their...

Author: /time Magazine | Title: The World: Disarmament: SALT Up to Date | 5/17/1971 | See Source »

...Institute for Behavorial Genetics at the University of Colorado agrees, explaining that a gene that is considered "bad" now might become necessary for survival in the event of drastic environmental change. "It is foolhardy to eliminate genetic variability," he says. "That is our evolutionary bankroll, and we dare not squander it. Species that ran out of variability ran out of life...

Author: /time Magazine | Title: Special Section: THE MIND: From Memory Pills to Electronic Pleasures Beyond Sex | 4/19/1971 | See Source »

...children of the missing gather at the railroad station, holding aloft glossy little snapshots, a forest of question marks. Does anyone know the fate or whereabouts of these vanished? The soldiers move on; the incomplete tragedies remain. A bigger puzzle also lingers: Why should so many proven talents squander themselves on Sunflower? For pane? Certainly-but also to counter the sexual revolution with the kind of romantic movie they don't make any more. Chetnal fortuna-the pornography of sex cannot be replaced by the opera of soap...

Author: /time Magazine | Title: Cinema: Mamma Mia! That's-a Spicy Meatball! | 10/5/1970 | See Source »

...reclaimed water, Dr. Roger E. Kasperson of Clark University in Worcester, Mass. Even more repulsive is the fact that the drinking water in 144 of the 155 U.S. cities with a population of more than 25,000 now contains measurable traces of sewage effluents dumped upstream. Americans also squander vast quantities of fresh water to flush away small amounts of wastes. As a result, the nation's water is needlessly polluted at a prodigal rate...

Author: /time Magazine | Title: Environment: Sewage Tastes Good Like Water Should | 7/13/1970 | See Source »

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