Word: taxed
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Dates: during 1950-1959
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...Persian Gulf, Lancashire and the Levant, and known as the richest British subject in Egypt. This was his acquisition of 700 swampy acres on Alexandria's outskirts. He got Farouk's father, Fuad I, to proclaim it "Smouha City" and, while holding about half as low-tax "farm land" for future speculative profit, turned the other half into villas and a luxurious sports club and race track to provide him the pleasures-denied him by his origins -of the stuffy Alexandria Sporting Club
...Egyptians blandly explained that they had accepted Smouha's definition of his Alexandria holdings as farm land-and listed it for expropriation at his own low tax valuation of $2,800,000. Egypt's $87 million for expropriated lands is already earmarked for other British claimants; furthermore, Smouha's solicitors were pressing a market-value claim of $30 million. Britain faced the prospect of having to pay for Nasser's single biggest expropriation of British landholdings out of its own resources. "Hoodwinked in a deal that had all the elements of the Middle East bazaar business...
Starting in 1953 with $1,300,000, the U.S. taxpayer now pours in an average of $25 million yearly, more than Bolivian income tax payers themselves contribute to their treasury. Washington's remittance is now expected on a regular basis. Said Finance Minister Eufronio Hinojosa last week: "The 1959 budget will be perfectly balanced." Then he added hastily: "Including, of course, American aid to cover the 30% deficit...
...equipment, a Jeep equipped for uranium prospecting, title to their $125,000 West Los Angeles home; got custody of and support for their two children, alimony of $36,000 for a start, dropping to $10,000 if she reweds. Federal law will let Eddie list the alimony as a tax deduction over the years...
...Tennessee legislature got set this week to pass a joint resolution asking the Internal Revenue Service to go easy on World War I's ailing one-man gang, Sergeant Alvin Cullum York, 72, long saddled with an income tax bill of $85,422 for royalties (claimed by York to be capital gains) earned from a 1941 movie of his life. Sympathetic taxmen hinted a settlement could be reached to let broke, bedridden Hero York keep his frame house, his mountainside farm...