Word: wiseness
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Dates: during 1950-1959
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...family thus ganged up against him, Premier Souvanna Phouma resigned as Premier, and got set to take a trip to Paris. The King and the elders of his Royal Council, alarmed at Phetsarath's obviously strong ties with Souphanouvong's Communists, began wondering whether it had been wise to give Phetsarath back his yellow umbrella after all, appointed a new Premier to keep the Communists (and Prince Phetsarath) under control...
Last week the Hi-Lo's brought their far-from-tattered voices to Manhattan for the first time, and proved to the jazz-wise Birdland audience that when they are not kidding, they can husk out just about the slickest sound in the current trade. "We like to sing," says Hi-Lo's Leader Gene Puerling, "almost like a string quartet...
...Government's take. Every businessman knows about such old standbys as the farm that runs at a tax-deductible loss, the "business" expense for a yacht, a car, a trip, even a country-club membership. But comparatively few are aware of another way of saving by the wise use of trusts and foundations, which can be set up for either charity or personal projects, and often reward the taxpayer with huge savings. Until recently only taxpayers in the 80% tax bracket ($500,000 or more annual taxable income on a joint return) took full advantage of trusts. Now, thousands...
...fastest growing is the short-term or temporary trust for both charitable and personal use. Theoretically, upper-bracket taxpayers can use it to cut their taxes from 87% to as little as 20%; it also works effectively for people with incomes as small as $10,000 annually. The wise taxpayer merely turns over part of his investments with their income to his child for his education or to an aged relative, for support for a minimum of ten years (and one day) or the lifetime of the beneficiary, whichever is shorter. While the trust beneficiary must pay normal income taxes...
...took him four short years to discover that Harvard, wise as it was, had no idea what his mind was like, and so was utterly incapable of improving it. It took him a lifetime to discover that he was equally ignorant of himself, and was equally incapable of directing destiny...