Word: taxing
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Dates: during 1960-1969
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...bring in just $600 million a year in additional revenues, the psychological impact of the cuts would be great. The depletion allowances, whose whole purpose is to help offset the costs of finding and exploiting new mineral sources, are regarded by many as the most blatant example of special tax privilege for industry...
...public is also likely to favor the committee's action. It is designed to make it impossible for wealthy individuals to avoid federal income taxes entirely through tax-free investments or special loss and deduction allowances. Heeding widespread taxpayer resentment over the disclosure that 155 persons with incomes over $200,000 paid no taxes at all in 1967, Ways and Means approved a "minimum tax" plan that would require everyone to pay taxes on at least half his income. Combining proposals put forward by both the Johnson and Nixon administrations, the plan modifies the exemptions on capital gains...
...proposed minimum tax plan would, if passed, produce nearly $100 million a year in revenues. The beneficiaries of this windfall would be wage earners, who now pay a higher percentage of taxes than most millionaires. Mills said that the extra funds would probably be used to cover an increase in the standard deduction of 10% of gross adjusted income claimed primarily by lower and middle-income taxpayers...
...against the inflation that in June boosted the consumer price index by six-tenths of 1%, he has made it clear that he is willing to pay a price for its extension. Nixon last year indicated opposition to changing the oil-depletion allowance, but he will probably sign any tax-reform bill passed by Congress...
Like Apple Pie. "We have some of the lowest sewer tax rates in the country," says Stefanski. "I figured we'd double the rates to amortize our bonds." To persuade the people to pay, Stefanski enlisted newspaper support, lined up citizen groups and got 33 suburban governments to endorse the plan. "It became like apple pie and motherhood," he recalls. "No one could be against clean water." Last fall Clevelanders approved the bond issue by a vote of 2 to 1, giving it more "yes" votes than any other proposal on the ballot. In five years, Cleveland should have...