Word: tion
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...rate becomes effective, or lowering the tax rate for profits under $25,000. A Cabinet committee appointed by the President recommended a cut from 30% to 20% for corporations with earnings of less than $25,000. But the Administration, harking to Treasury Secretary George Humphrey's firm opposi tion to tax changes involving more than a "minimum" revenue loss, has so far regarded direct tax cuts as too expensive. Moreover, corporate tax cuts would not benefit some 85% of small concerns that are not incorporated, now pay their taxes on a steeply graduated individual tax scale...
...Jamie Whitten, to invite the Administration to indicate where to cut its own budget. Complained Tennessee Democrat Ross Bass: "We are faced with this unusual situation because it is the first time in the history of our nation that a President has submitted a budget for the opera tion of the Government; yet neither he nor his Secretary of the Treasury has made any attempt to justify this budget...
...complex dead-reckoning system that measures the airplane's speed by means of radar pulses reflected from the ground. It also measures the sideways drift caused by cross winds and keeps track of the airplane's heading during all parts of the flight. This informa tion, combined automatically by a computer, tells the pilot continuously where he is, and as a kind of extra feature, the clever "66" helps him find the fastest wind to boost him to his destination...
...oldfashioned, small-screen, black-and-white films. Ross noted that CinemaScope is fine for sweeping horizons, but added: "If the subject ¶ has power and the scenes themselves are what you want to show, don't tinsel it up with CinemaScope." ¶Sorely beset, RKO peddled distribu tion rights to 44 films (including eleven not yet released) to prosperous rival Universal-International, hoped to save some $7,000,000 by the deal, wearily acknowledged that it is exploring a new source of revenue: the sale of oil under studio lots...
...handed mole tunneling under the yard. His journal of recovery is alive with the awareness of a man who has found time not only to live life but to examine it, and though most of his conclusions are venerable platitudes, they are stated with all the force and convic tion of newly minted truth...