Word: vat
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
...argue that trying to reform the income tax system to raise more revenue will be a politically futile exercise. Charls Walker, a former Deputy Treasury Secretary in the Nixon Administration and now chairman of the American Council for Capital Formation, suggests that the U.S. adopt a value-added tax (VAT) similar to the kind used in most West European countries. A VAT is a tax levied on goods at each point of the production and distribution chain according to the value added at that stage. A tax on refrigerators, for example, would be collected from the manufacturer, the wholesale distributor...
...result, some economists have come to favor so-called consumption taxes. A 5% federal tax on all forms of energy consumption, for example, would raise $82.9 billion over five years. Another possibility is a value-added tax (VAT), a form of national sales levy that is used in most West European nations. Even if housing, food and medical care were exempted, a 5% VAT would yield $60 billion a year. Such taxes, of course, would take money from consumers' pockets and be a drag on growth...
Young recalls that in the days before the SEC existed, "there were no required disclosures, no data. Editors had to guess at sales figures." One enterprising FORTUNE writer, doing a story on the secretive Campbell Soup Co., noted how much butter went into a vat of tomato soup, priced the cost of wholesale butter and other ingredients and figured Campbell's annual profits at $6 million. He also estimated the estate of its former owner at $120 million...
...ambitious, young director of the Office of Management and Budget, whom he considered both clever and extremely fit for his job. The aide went to the economy room to see how things were going. He was taken aback. He rubbed his eyes and wiped his glasses. Seeing the largest vat of red ink in federal history, he gulped "none of us really understands what's going with these numbers." As he staggered back, he wondered "do you realize the greed coming to the forefront? The hogs are really feeding." Fearing that he would be called stupid or, worse, unfit...
...funny thing happens on the way to the saccharin vat, and Class emerges more intriguing, if no less sweet, than the standard Hollywood fate What sets this movie apart, strangely enough, is plausibility Strangely, because at first glance credibility is the last thing you'd expect from a movie that boasts an across-the-tracks camaraderie, ubiquitous prep school antics, and an inadvertent love affair between Jonathan and his roommate Skip's mother, played by Jacqueline Bisset...