Word: taxed
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Dates: during 1980-1989
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...donations to PTL, which ran as high as $45 million in 1984, will no longer be tax deductible for the givers. That could make it impossible for the bankrupt organization to raise funds to pay off some $72 million that is owed to creditors. Beyond that, the IRS had earlier claimed that PTL owed $55 million in back taxes. Can PTL survive? Said U.S. Bankruptcy Judge Rufus Reynolds: "There's no chance whatsoever...
...internment of 120,000 Japanese Americans for the duration of World War II, an action that Hawaii Senator Spark Matsunaga calls the "one great blot on the Constitution." Last week the nation moved a step closer to expunging that stain. The Senate voted to give an apology and a tax-free payment of $20,000 to each of the 60,000 surviving internees. The bill must now go to the House, which has already passed a similar measure...
...talks animatedly about Dukakis' moving immediately after the election to forge a "vigorous consensus on a multi-year deficit plan." Implicit in this prediction is an awareness that far more overt sacrifice will required to douse the deficit than merely mobilizing an army of IRS agents to hunt down tax scofflaws. "There will be real action on the economic front," Edley says. "On the three fronts of the budget, economic development and international economics, you can expect to see a lot of hard pushing...
...former associate director of Harvard's Institute of Politics, Mitropoulos became the Governor's director of personnel. As head of Dukakis' department of revenue, Ira Jackson, 39, a former associate dean of Harvard's John Fitzgerald Kennedy School of Government, was largely responsible for Dukakis' highly touted tax-collection efforts. If Jackson could be lured away from his job at the Bank of Boston, he could fill a top position at the Treasury or the Office of Management and Budget...
...Western joint ventures in the East bloc has surged from just five in 1981 to 166 last year. Hungary leads the Soviet bloc in joint ventures, with 140 formed since 1972. Western firms are allowed to own the majority share of a venture in Hungary, and sometimes receive generous tax breaks. Yugoslavia, the first East European country to seek joint ventures with the West, has formed 225 since 1967. One of the largest: a $62 million auto-parts plant co-owned by General Motors. In Belgrade the first McDonald's in Eastern Europe has been drawing more than...