Word: taxingly
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Dates: during 1970-1979
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...shirt, he faced some 30 people seated on yellow plastic chairs in a bank basement in tiny Columbus Junction. Complained one farmer: "Everything that comes out of Washington these days violates the American free-enterprise system." The farmer said the problem could partly be countered by abolishing the income tax on corporations...
Many owners are doing just that-to charities in exchange for tax deductions. Boston's Morgan Memorial used to receive one car a year. Now it is taking in at least one a day, and frequently two or three. The cars are mostly large cars like Oldsmobiles and Buicks, which the charity sells for nominal sums, usually about $200. It is not complaining. Said Spokeswoman Elaine Lewis: "It takes a lot of used clothing to bring in $200." One of Los Angeles' Salvation Army divisions, which is housed in a former Ford factory, accepted eleven gift cars...
Economists, proud and powerful in the 1960s, now look like Napoleon's generals decamping from Moscow. Their past prescriptions ?tax tinkering and Government deficit spending to prop up demand, wage and price guidelines to hold down inflation?have been as helpful as snake oil. "Things just do not work now as they used to," says former Federal Reserve Chairman Arthur Burns, and who can contradict him? The U.S. economy, bloated and immobilized, has been turned topsy-turvy...
...many more questions than answers and are sometimes unfairly dismissed by their more traditionalist colleagues as "N.C.s" (Neanderthal Conservatives). Hardly Neanderthal, they are instead moderate, pragmatic economists of the late 1970s who are bringing fresh air, and fresh hope, to the dismal science. Says Rudolph Penner, head of tax-policy studies at the American Enterprise Institute: "The exciting ideas are now coming from the under-40 crowd, and they are saying that Government is not efficient...
...been investigating the federal bench for three years.) The only way to remove federal judges now is by impeachment, a cumbersome process. Only four of the nation's federal judges have been tried and convicted by Congress in the nation's history, none since 1936. Convicted of income tax evasion, perjury, bribery, conspiracy and mail fraud in 1973, Federal Judge Otto Kerner resigned from the bench only five days before he was scheduled to enter prison. Federal Judge Herbert Fogel of Philadelphia, implicated in a scandal involving backdated documents to win a Government bid in 1970, took the Fifth Amendment...