Word: ued
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Dates: during 1990-1999
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...Basketball at U. Mass...
Rather, such efforts frequently inflame rather than improve race relations. Many a university has attempted to micromanage the lives and beliefs of its students. And many a university has wished it hadn't. From Stanford to U. Mass. Amherst, the result is always the same: the more we regulate a community's racial climate, the more we alienate its members...
Clinton's intention is to clamp down on non-U.S. companies that have been illegally shifting their profits abroad. Some companies do this by inflating their transfer prices, which are the amounts they charge their American subsidiaries for goods and services. This scheme boosts the profits of the parent companies back home and reduces the taxable earnings of the domestic affiliates. Clinton's advisers, who extrapolated their numbers from a study by a House Ways and Means subcommittee, are confident that they can generate enormous new revenues by stopping or penalizing those practices...
...problem with this plan, many economists say, is that it vastly overestimates the extent to which non-U.S. companies have been evading taxes. "The $45 billion number is out of sight," observes Gary Hufbauer, an economist at the Institute for International Economics in Washington. "He might get $6 billion in additional revenues." Says economist Rudolph Penner, the former director of the Congressional Budget Office: "The numbers are so far off what is reasonable that it's difficult to know where to begin -- $1 billion seems more likely than $45 billion." Aside from Clinton's proposal, the highest estimate...
Although some non-U.S. companies surely do evade American taxes, the IRS's previous efforts to crack down on violators have borne relatively little fruit. Earlier this month the Japanese electronics giant Matsushita, which sells products in the U.S. under the Panasonic and Quasar brand names, reached an agreement with the IRS to pay a settlement in that kind of dispute. The amount was a mere $4.8 million. At least 47 Japanese companies in the U.S. have been involved in similar cases within the past five years. Many such companies are now taking Matsushita's accommodating approach, which will...