Word: trend
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Dates: during 1980-1989
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...bill reverses a trend that has prevailed since the income tax took effect in March 1913 with a top rate of 7% on incomes above $500,000, a stupendous sum in those days. The rates zigzagged up and their calculations were made more complex until, to meet the revenue needs of World War II, the top rate on the highest incomes was a confiscatory 94%. Among those offended: a movie actor named Ronald Reagan who had just begun to earn big bucks. His anger at discovering that he could keep less than a dime of each additional dollar he earned...
...innovations are designed to reverse a sales slump caused by the continuing U.S. trend toward sobriety. The combination of health consciousness, concern about drunk driving and the young-professional work ethic has given the alcoholic-beverage industries their toughest test since Prohibition. Total consumption of beer, wine and liquor, which climbed an average 3.3% a year during 1975-80, rose only .4% last year, according to Impact, a trade publication...
...trend toward lighter beverages seems on its face like healthy progress, in contrast to the heavy martini consumption of the 1950s and '60s. But some critics of the new, syrupy drinks believe that the beverages cloyingly mask their alcoholic content and thus their danger. Says Michael Vitucci, public relations counsel for the National Woman's Christian Temperance Union: "In a sense, it is a wolf in sheep's clothing. People will feel it's like drinking lemonade." Seagram's Bronfman, of course, disagrees, "We make it crystal clear that these are alcoholic beverages and must be handled as such...
Leasing will play a growing role in the airline industry. Steven Udvar- Hazy, president of International Lease Finance, predicts that by 1990 about 25% of all planes will be leased, up from 10% today, a trend producing new alliances. GPA and McDonnell-Douglas have signed the first joint venture between a leasing company and an aircraft manufacturer, creating a firm called Irish Aerospace. It will have exclusive rights for leasing McDonnell-Douglas planes throughout the world...
Instead of going along with any trend toward banning textiles, the Administration shot its South Africa policy in the foot again last week by announcing that it had reached an agreement with Pretoria to increase U.S. imports of South African textiles by 4% a year. The unfortunate timing managed to outrage the advocates of protectionist legislation in the depressed U.S. textile industry even as it angered supporters of sanctions. The mild-mannered Lugar called the textile deal "hard to believe." Pennsylvania Congressman William Gray termed it "lunacy." Protested Democratic Congressman Butler Derrick, of textile-producing South Carolina: "We're wrapping...