Word: surtax
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...Loeb, Thomson has kept the Granite State free of both a sales tax and a personal income tax, the only place in the nation where neither levy is imposed. But this year, shortly before the election, 80,000 utility bills were mailed out across the state with a special surtax to pay for the controversial Seabrook nuclear power plant. Thomson had refused to veto a bill prohibiting that special charge and was suddenly cast as a less vigilant opponent of added taxation than his opponent, Democrat Hugh Gallen. An independent candidate, former Republican Governor Wesley Powell, drained some...
...price of gold without even touching our foreign and domestic deficits? Sure, sell at the market and we could pay the foreign deficits for a couple of years, and then what? What pol would vote to raise interest rates far enough to put us into a depression? Oil surtax? Moderately helpful as it pushes us into depression. There is nothing we can do that won't hurt too much...
...European Common Market. Italy's current inflation rate is 18%, its internal deficit is estimated at $20 billion, and its foreign trade deficit has doubled in only a year, to $4.4 billion. So weak is the lira that it has to be supported by a 7% surtax on foreign exchange purchases. Italy's accumulated foreign debt of $17 billion has all but exhausted her credit: the International Monetary Fund has held up since March a $530 million loan request...
...plate Republican breakfast, where only 51 tickets had been sold. That night in Cleveland, his tepid audience at a $500-a-plate dinner totaled about 250, half what had been expected. Among the missing was Republican Gubernatorial Candidate James Rhodes, who opposes Ford's proposed surtax...
...blast points to a potentially serious political problem for the President: the businessmen who have been his strong supporters may desert him if a recession really begins to bite. Last week Administration aides hinted that Ford may modify his package of anti-inflation proposals, notably the 5% income surtax, if the economic situation warrants it. But the feeling so far is by no means unanimous, even among auto executives, who mostly declined to join Townsend's attack on the Ford program. Speaking at an automotive engineers' convention last week, Ford Motor President Lee Iacocca said that inflation...