Word: taxed
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Dates: during 1950-1959
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...went to television with charts and figures to argue that his requests were imperative. Democrats shouted "Soak the poor," followed him on TV with a collection of shirts, shoes and milk bottles to demonstrate the family buying power that would be sapped by his proposal to lower state income-tax exemptions ($2,500 per couple, $400 for each dependent) to the $600-per-individual federal level. One night, when he stood up to open a sports show in Manhattan, he was roundly booed. Rockefeller spoke through the boos, grinned gamely: "Who's going to dance in the streets when...
Gradually, a compromise was hammered out. The Governor agreed to cut $40 million from the budget and to trim his tax proposals, but not crucially. For example, he offered a gross tax credit of $25 per married couple instead of $10 per adult; he continued forgiveness on 1958 income as he shifted the state to a pay-as-you-go basis, but canceled forgiveness of capital-gains taxes. Finally, one midnight Republican leaders led Rocky to their Capitol hideaway, broke out ice and bottles, clinked glasses to victory...
...Egypt (TIME. March 2). Solution of the Smouhaha. as the British called it: the Egyptians would give him back the race track, golf course and other built-up property that they had seized from him after the British landings. But they would keep the surrounding farm land which, for tax purposes, he had valued unusually low. It would be up to the British to compensate...
...Princeton's greatest gifts were social polish, prestige or contacts, but 251 soberly testified that from their college years they got an "education and ability to think." Naturally, education did not solve all problems; 20 believe that World War III is inevitable and 172 think it likely; 374 tax-ridden Princetonians are convinced that the U.S. will become more socialistic. Gloomiest statistics: 80 happy men find living within income "a snap," but 328 say it is a struggle, and for 40 desperate graduates it is "impossible...
...Treasury should 1) cut the 52% corporate tax on profits abroad to the 7.8% rate for intercorporate dividends, and 2) collect the tax only when the profits are transferred...