Word: taxexempt
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Dates: during 1950-1959
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...economics of postwar commercial publishing. Soaring costs have fostered the hit psychology of the Broadway theater, forced commercial publishers to shy away from nonfiction books that are likely to sell less than a break-even 8,000 copies. The university presses have no such profit-and-loss problems. As taxexempt, nonprofit enterprises, often bolstered by subsidies, they can afford to keep slow sellers in print as long as they prove useful. Result: more and more commercially marginal but eminently important books are being handed over to the universities. And the presses in turn are starting to attract first-rate editors...
...rose from 200 to 600. But Britain was not as poor as the Treasury figures annually make it sound. "Taxable" income is far from the only income received by well-heeled Britons. All capital gains, whether they come from securities, real-estate deals or winnings on the horses, are taxexempt...
...marbled conservatory, the great crystal chandeliers and thousands of blooming plants (flowers are replaced before wilting). Hereafter, the pleasure which visitors take in the agapanthus and the vanilla vines will grow or shrink (depending on individual personality and politics) with the thought of that $60 million. Longwood's taxexempt, gilt-edged lilies will toil not, nor spin; they may invite some musing future Coolidge to murmur: "Some shareholders...
...Although medical schools and teaching hospitals are taxexempt, surely no one would think it his right to tell the cancer specialist how he should go about curing cancer ... In short, the doctrine that tax exemption justifies a political judgment as to the soundness of ideas can be a very dangerous two-edged weapon. Indeed it can be the most devastating weapon ever invented for invading the private life of this nation...
...Encourage investment by lightening the present double taxation of dividends (once when the corporation pays, once when the individual pays). In the first year, dividends up to $50 would be taxexempt, and taxes would be reduced by 5% of any additional dividends; after three years, the exemption would go up to $100 and the tax reduction to 15% (TIME, Jan. 25). Saving to taxpayers in fiscal 1954: $240 million...