Word: taxingly
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Dates: during 1970-1979
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...budget reduces the highest income tax rates (for those earning a net income of more than $50,000) from 83% to 60%; the standard rate will drop from 33% to 30%. Personal exemptions will be raised, effectively severing 1.3 million more Britons from the tax rolls. To replace the estimated $9.5 billion in lost revenues from the reduced income tax, the budget calls for an increase in the value-added tax (VAT), a national sales levy that is applied to all but essential goods and services. VAT rates, which vary from 8% to 12.5%, will move up to 15%. That...
Jenkin candidly admitted that the new budget will result in an increase of the annual rate from 10.3% to 17.5% by next November. Thus many who will benefit from the changed tax structure may find their gains eroded by higher inflation...
Evans damaged his reputation last year when, in a study for business lobbyists, he predicted that the stock market would rise 40% over two years if the capital gains tax were reduced from 49% to 25%. That far-out conclusion only bolstered critics, who charge that Evans sometimes cooks the books to come up with results favorable to his clients. Then Evans called Federal Reserve Board Chairman William Miller "a tool of the Administration." Chase decided that it had had enough and early this year agreed to buy Evans...
...produce garments for the U.S. market. Indeed, many companies have been attracted because the U.S. does not yet impose import quotas on Sri Lankan garments. Typically, Jeffrey Bogatin, owner of a New York-based garment business, was attracted by wage costs of 73? an hour and a five-year tax holiday. Says he: "I'm shocked that there is not more of a rush by industry to this place. The people are educated and eager to work. This country...
Others, including the leaders of an election year drive to end city-wide rent control, disagree. "Condominiums are the best things that have happened to this city in years," Richard Fraiman, president of the Cambridge Home Owners and Tax- Payers Association, said last week...