Word: uppers
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Dates: during 1970-1979
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...players who filed into Chess City's smoke-filled second-floor loft on Manhattan's Upper West Side last week ranged in age from six to 50. With the persistent chutzpah of the true chess buff, each one figured he was the equal of a grand master; and each one plunked down $25 for the right to trade gambits with Boris Spassky, the former world champion. The simultaneous matches quickly turned into a boisterous chess happening. Six-year-old Robert le Donne bounced in toting his schoolbag; another player brought along a sustaining bottle of borsch; a third...
...spread between the upper-and lower-income groups so difficult to shrink? One reason, the CEA notes, is that the graduated income tax does not significantly redistribute wealth. That is partly because taxpayers in the highest brackets have much greater opportunity to use legal write-offs than those with very low incomes. Moreover, the 5.85% Social Security payroll tax takes a much bigger proportional bite out of the salary of a worker earning $5,000 than from one earning more than $17,000. Ever larger sales taxes are also more burdensome for the poor...
Moreover, inflation has punished the poor more than other Americans. Low-income families must spend an average of 71% of their earnings for food and shelter, but these fast-inflating items take only 50% of the earnings of upper-income families. Runaway food prices last year lifted farmers' incomes to record highs, at the expense of other Americans, including the urban poor. A congressional Joint Economic Committee staff study concludes that "in 1973 low-income persons suffered about one-third more inflation than did middle-and upper-income consumers...
...REAL ENEMIES of Chilean economic and social progress were Chile's upper class and the United States. From the first month after Allende's election, right--wing extremist groups tried assassination and terror to spark a middle class Red scare and a military revolt. Management struck factories which workers forced to stay open; workers established committees for self-defense and to distribute goods directly to the people...
...United States set up an informal economic blockade, choking off normal lines of credit in all sectors but the military. The lack of credit and workers's demands for wages created shortages in the goods upper and middle class Chileans demanded: beef, wool, radios, cameras, machine parts...