Word: standards
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Dates: during 1970-1979
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...white citizens Rhodesia offers the highest standard of living in the western world. This inducement to stay and resist black political demands has not yet been seriously affected by increased guerilla incursions from Zambia and Mozambique...
...example, in 1975 and 1976, German labor unions renounced wage hikes that would have increased the buying power of German workers. Given the current rates of inflation, the decision represented a deterioration in labor's standard of living. Commenting on this remarkable economic behavior, one German economist said, "German labor unions see unemployment as the inevitable result of the international economic recession. They accept the fact that in order to remain competitive in the international market, German firms must raise their productivity and this may easily mean a greater number of lay-offs. German labor unions believe that...
...that slightly reduced withholding rates. It would allow each taxpayer and dependent a $35 credit (up from the present $30) to be subtracted directly from taxes owed through 1977. It would give some relief to many retired people by a simplified tax credit system. It would increase the standard income tax deduction this year to as much as $2,400 for single persons and $2,800 for couples...
...biggest reason is probably a wild misunderstanding of just how much profit corporations actually make. In one poll conducted by the Opinion Research Corp. of Princeton, N.J., a majority of those questioned thought that companies averaged 330 profit on each dollar of sales. A sampling of college students by Standard & Poor's yielded an even higher estimate: 450. The actual figure is below 50 -and the overall trend has been downward. According to a FORTUNE survey, the 1975 median profit margin of the nation's 500 largest industrial corporations shrank to 3.9% of sales. That was the thinnest...
Died. Monroe Jackson Rathbone, 76, former president, board chairman and chief executive officer of Standard Oil Co. of N.J. (now Exxon Corp.) from 1954 to 1965; of a heart attack; in Baton Rouge, La. Big, bald "Mr. Jack," whose great-uncle was General Thomas ("Stonewall") Jackson, began his 44-year career with Standard Oil as a chem ical engineer. He made "Jersey," as he called it, the most international of the oil companies and raised its profits to over $1 billion...