Word: taxingly
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Dates: during 1970-1979
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...spending is expected. To get SALT II approved, its supporters will probably have to agree to increased defense outlays of as much as $7 billion. The recession may trigger further spending; a jump of 2% in the unemployment rate could add $40 billion to the deficit because of lower tax revenues and higher spending on social programs. If there is a tax cut to combat the recession, that alone could push the deficit for fiscal 1980 to $50 billion or $60 billion...
...spurned campaign contributions from organizations. An early Carter backer, Boren, who is also a born-again Christian, has since become disillusioned with the President's energy policies; the Senator from the oil state would like to deregulate gasoline prices and is strongly opposed to the Administration's windfall profits tax proposal. But the single most important problem that the country faces, cautions Boren, "is overregulation and the fact that the regulators have no accountability to the American public...
...economy. Feldstein heads the National Bureau of Economic Research in Cambridge, a private organization financed by grants from foundations and corporations, highly respected in the profession for its study of economic cycles. The cure for what ails the American economy, argues Feldstein, is more capital investment, helped by tax incentives. He believes the Government should lower Social Security taxes to encourage private savings and make unemployment benefits taxable to remove incentives...
...Administration is sure to cite the high earnings in its campaign to get Congress to pass a tax on the "windfall" profits the companies stand to receive under Carter's plan to decontrol the price of domestically produced oil Carter last week urged Americans to "let their voices be heard" against "an oil lobby working quietly" against the tax. While the public fumes at the big profits, most experts have defended the high earnings claiming that they finance further exoration. In any case, the profits boom is temporary: soon demand will come ore into line with supply, prices will...
DIED. Corinne Griffith, eightyish, star of silent movies (Black Oxen, 1924) and early talkies (Lilies of the Field, 1930); in Santa Monica, Calif. Griffith retired in 1932 to make a fortune in Beverly Hills real estate and to campaign for the repeal of the federal income tax, denying-in print and in divorce court-that she was the same Griffith who once graced the silent screen. "It tends to date one," she sniffed...