Word: taxingly
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Dates: during 1970-1979
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Danehy has been aware of his tax situation for some time. Michael A. Moreau, project director for the Cambridge tax office, said last week that his office notified the city manager and the mayor's office about the "problem" last...
...rate of 11.4%. Leading the price parade was food, up at an 18.2% rate. Contends David Grove, a former IBM vice president who heads his own economic consulting firm: " To get inflation under control, everyone has to sacrifice. There has to be a willingness by the public to forgo tax relief, tolerate tighter money, and not put tremendous pressure on the Government to step up spending for pet programs." Adds Beryl Sprinkel, executive vice president of Chicago's Harris Bank: "The key question is, what happens when unemployment starts moving up to 7% or 7.5%? Will the Administration have...
...Board of Economists expects the deficit in fiscal 1980 to bulge to $45 billion. In fact, says Alan Greenspan, head of the economic consulting firm of Townsend-Greenspan, "Carter has a better chance of bringing in the budget below $30 billion this fiscal year than next." One reason: tax receipts this year will be up because the economy was much stronger than expected this winter and expenditures will be below expectations...
Board members pointed out that an amendment to balance the budget would straitjacket the economy, particularly during a recession, when deficit spending often is prudent to spur a recovery. Otto Eckstein noted that because tax revenues fall during a recession, Congress would have to raise taxes in order to balance the budget, and that would bury the economy even deeper...
Both condo and co-op owners enjoy the same attractive tax advantages as homeowners in being able to deduct interest and property taxes. But condos in many areas are appreciating faster in today's churning market because buyers can get mortgage financing at cheaper rates than co-op buyers, who must take out higher interest personal loans because they own nonmortgageable shares instead of property. Co-ops are more restrictive than condos; the building's board of directors must approve a potential buyer before he can acquire shares, whereas a condo can be sold to whomever the owner...