Word: taxingly
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Dates: during 1970-1979
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...president of Landmark Bancshares of Missouri, who used to work with U.S. Trade Negotiator Robert Strauss, helped raise money for the gala. Acting on White House authority, he persuaded at least 13 companies and banks (including Xerox, Bank of America and Chase Manhattan Bank) to ante up 5,000 tax-deductible dollars apiece. The White House did not say how much it raised for the dinner, which cost more than $80,000. Anything extra would come out of the State Department's entertainment budget. When questions were raised about the propriety of soliciting private cash, the White House pointed...
...crisp but low-keyed assault on Callaghan for mismanaging the nation's affairs. "Never has our standing in the world been lower," she declared. "Britain is now a nation on the sidelines." She summed up Britain's needs in a phrase tailored to campaign-poster type: "Less tax and more law and order." In his scornful, witty reply, Callaghan brought down the House by skewering the minor parties for forcing an election in which they may lose heavily. "This is the first time in recorded history," he said, "that the turkeys have been known to vote...
...concocting elaborate plans to lift the controls that regulate domestic oil prices. Raising prices, the administration maintains, will stimulate domestic production and discourage consumers from wasting oil. Ideally, the oil companies will use the extra revenue for the expanded exploration they talk so much about and the government will tax away windfall profits. In fact, the rise in oil prices after deregulation--which may be as much as seven cents per gallon of gas--coupled with the OPEC increases will subject lower and middle income Americans to further debilitating inflation...
...begun by Mayor Robert F. Wagner Jr. in May 1965 of borrowing short-term notes, payable within one year, to fill budget deficits. As if that was not bad enough, Wagner's collateral for the loans was Bond Anticipation Notes (statements of what the mayor expected to collect in taxes) based on the mayor's own estimate of the next year's revenues, rather than on last year's revenues. The effect of this practice, continued under subsequent administrations, allowed mayors to anticipate much more revenue than they knew the city would receive, so they could keep borrowing. Predictably, short...
...conclusion, Auletta ridicules Mayor Edward I. Koch's vision of a renaissance in the city. He feels that Koch has been as promiscuous with city funds as his predecessors; and that the mayor has not yet confronted the issues--growing debt and budget, shrinking tax base, et al.--that will determine whether the city lives or dies. On Koch's efforts, Auletta quotes the Wizard of Oz's excuse to Dorothy: "I'm really a very good man, but I'm a very bad wizard...