Word: taxingly
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Dates: during 1970-1979
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...president concerned with reducing American dependance on foreign oil. Although the Senate Energy Committee passed a standby rationing proposal, more stringent measures, though desirable, are politically unfeasible. The failure of Carter's 1977 energy proposals and the imminent watering-down if not complete destruction of his windfall tax proposals serve as ample evidence that the strong oil lobby within Congress can effectively block progressive energy measures. Voters must begin to pressure congressmen to pull away from the oil lobby...
PRESIDENT CARTER'S new energy proposals, calling for the gradual decontrol of domestic oil prices and a windfall profits tax on the oil companies, represent a timid, incomplete attempt to resolve the nation's energy problems. Carter has surveyed the sorry state of energy supplies in America, concluding that higher oil prices under decontrol will force conservation, increase production and make alternative energy technologies more price competitive...
...limited sense, he is right. Decontrol, however, can at best provide but little relief; it should not be the centerpiece of any energy policy. Moreover, the costs of decontrol are high and can only be offset by a strong windfall profits tax giving relief to the poor and funding new government energy programs. Carter says he wants the tax enacted but has already as good as killed it by failing to make decontrol of oil prices contingent on Congressional approval of the tax. Carter is either optimistic about the chances of Congress passing a strong windfall profits tax or believes...
Carter mistakenly sees decontrol as an end in itself, rather than as a starting point for a broader energy policy. Convinced of the merits of decontrol, Carter did not link decontrol and his windfall profits tax; this may cost consumers $32 billion over the next two years, while producing only limited energy savings. Under a comprehensive windfall profits tax, that money could go to relief for the poor, funding for new energy programs and--for those profits oil companies would be allowed to retain--investment in domestic oil production. Carter's proposed tax, however, is much too weak, providing insufficient...
...federal court in Detroit had ruled that from 1956 to 1965 Rowan and Grace overstated the company's excise tax credits and understated revenues. The men were originally sentenced to six months in prison, but later got reduced penalties. They were placed on two years' probation and ordered to do full-time community service work until early May. Last week the Fruehauf board voted that when those terms are up the two officers, who have reputations as big profitmakers, may return to the company from their unpaid leaves...