Word: taxingly
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Dates: during 1970-1979
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...encouragement of "productive conservation"; that is, using energy more efficiently. In the transportation sector, the Project, recognizing that the automobile is likely to remain an American fixture, recommends more stringent gasoline mileage standards instead of massive investment in mass transit. The government should grant very high tax credits to industry for mundane improvements like furnace maintenance, lighting adjustments, plugging leaky steam traps, recovering, installing insulation, and developing more efficient technologies to replace the existing capital stock. Indeed, it's the very banality of such measures that is the primary problem with conservation--the approach just doesn't lend itself...
...temporal O board games! Out of the Great Depression came the great Monopoly. From the Great American Tax Revolt generated by California's Howard Jarvis, 76, and Proposition 13 has come Ax Your Tax. Players try to solve complicated tax problems like how to launder the interest paid on fictitious-name bank accounts. Jarvis, who dutifully posed with an ax and some funny money to promote the game, announced that the endorsement fee had gone to his American Tax Reduction Movement...
...White House Domestic Affairs Adviser Stuart Eizenstat that without aid Chrysler would soon cease to be a major force in the U.S. car market. He repeated this two weeks ago to Senate Finance Committee Chairman Russell Long and House Ways and Means Chairman Al Ullman. Riccardo asked for tax relief that would bring an immediate cash refund to the company...
...requests was for a unique dispensation from the tax code's complex "loss carry-back and carry-forward" provisions to permit Chrysler's net operating losses to be applied now against future profits. Result: Chrysler would get a refund from the Treasury equal to the amount of taxes it would have paid if it had had profits instead of losses...
Congress might place limitations on the refund, but if Chrysler really loses $400 million this year, it could collect as much as $186 million. That is the amount it might have had to pay on a $400 million profit, assuming the usual 46% corporate tax rate. If Chrysler makes money again, it would not be able to offset those earnings with this year's loss, and the Treasury would start to get its money back from Chrysler's higher taxes. A dispensation from the loss carry-forward provisions stands a fair chance in Congress...