Word: taxingly
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Dates: during 1970-1979
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...Building and Construction Trades unions with a view that seemed totally at odds with the Government's new credit-tightening policies. Despite predictions of a slump in home-building Carter declared: "In fighting inflation, we do not sacrifice construction jobs." Carter forecast that his windfall profits tax on crude oil will finance energy programs that will amount to "one of the biggest construction projects in world history-on a scale comparable to building our interstate highway system." Despite such rhetoric, his flat delivery was received mostly with polite applause...
...Premier grossly underestimated the unpopularity of higher taxes. Early in the campaign he had said that the government would have to consider easing Japan's $70 billion deficit with a zozei, a stiff tax increase, either on personal income or consumer goods. Stung by a vociferous backlash against new taxes, Ohira tried to soft-pedal the issue just before the election, but by then it was too late. Although Ohira can safely ignore demands that he resign, to form a Cabinet he will probably have to surrender some prized ministerial portfolios to the disgruntled powerbrokers who head rival factions...
There are a few bright spots in the otherwise gloomy innovation picture. Last year's reduction in the capital gains tax from 49% to 28% resulted in a flood of new money looking for risky but promising investments. Boston's Route 128 complex of small, high-technology firms and California's Silicon Valley are awash with funds...
...spending, which this year will total $30 billion, toward basic research. Carter this month will also present the results of a 20-month Commerce Department study on innovation. Presidential recommendations are expected to include modifications of patent and antitrust laws to protect inventors and encourage joint developments, tax breaks for small innovative businesses, and the creation of cooperative technology centers to get technical information flowing among business, Government and academe...
...Martins, the car is upholstered with the hides of eight Scottish cattle. West Germany's sleek Porsche 928, priced at $33,220 and voted 1978 Car of the Year by European auto writers, is bought mainly by dentists (the country's highest income group), business advisers, doctors, tax consultants and real estate dealers. (The world's largest Porsche fleet-4,000-is in Los Angeles...