Word: taxed
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Dates: during 1960-1969
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...These students are subsidized by tax-payers," said Kuss. "They should be more respectful of their burden and expense. They should be more tolerant...
...direction. Whatever the outcome, critics argue that a victory for nonpublic schools in the Supreme Court may produce a loss in the long run. For one thing, there might be less money to go around for public schools, especially those in the ghetto. In addition, critics note, to win tax support the church schools must prove that they provide a public service and also submit to more legislative regulation. The result could be less religion in parochial schools and ultimate secularization...
...President's struggle with Congress has been greatly intensified by the fight over the tax-reform bill (see THE NATION). It started out with some sensible and overdue reforms, but many were gutted by irresponsible actions in the Senate. The 1969 bill that the Senate passed last week is loaded with so many tax reductions?as well as a costly 15% increase in social security benefits?that the President has threatened to veto it. "I intend to use all the powers of the presidency to stop the rise in the cost of living," said Nixon at a press conference shortly...
...April 1965 to April 1966, the money supply expanded at an abnormally high 9½%-per-year rate, even though inflation was on the rise. Too late, says Friedman, the board reversed itself too emphatically, and caused the "credit crunch" of August 1966. In 1968, the board, fearful that the tax surcharge would overburden the private economy, increased the money supply at an average annual rate of 10%?almost twice the rate that the economy could absorb without inflation. Then, a year ago, the board switched to its restrictive money policies. Six to nine months after these gyrations occur?...
...urging the adoption of freely moving exchange rates instead of fixed rates. Now, after a series of monetary crises and devaluations, central bankers in the U.S. and abroad are giving serious study to a modified form of the idea. As early as 1942, Friedman began advocating a negative income tax as a substitute for the nation's demeaning and generally ineffective welfare system. The Nixon Administration this year asked Congress to provide a minimum income for every American, though not quite in the way that he advocates. Friedman would abolish most other types of aid to the poor and substitute...