Word: write-offs
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Certainly, textile makers have taken little advantage yet of the write-off they were allowed last fall. After all, a businessman's capital-spending plans finally depend on the demand for his products, and with the nation's industrial plants operating at an average of only 85% of...
Curtis' president put a hopeful face on the picture. By "reductions in load, more effective use of equipment," MacNeal said, the company has "reduced expense ratios for 1962." He added that a few good years could go far toward offsetting the poor one by permitting a write-off of...
...companies limp on without replacing it because stringent tax depreciation laws make it difficult to get enough cash to modernize. Treasury Under Secretary Henry H. Fowler concedes that U.S. tax write-off allowances "are probably among the most limited in the world." Last week President Kennedy brought welcome relief to the textile industry-one of the most hampered by antiquated machines-by allowing it to concentrate its write-offs in as little as twelve years v. more than 25 years previously. Furthermore, said Kennedy, Treasury tax experts are studying the possibility of doing the same for all U.S. industries...
Wage rates geared to productivity, proper depreciation laws for industry permitting sensible write-off of equipment, and curbing the monopolistic power of unions in large industries that create a continual inflationary trend are the only ways to help the economy.
Not until last month, in the name of its independence anniversary binge, did Argentina get around to holding its second international auto show. In three weeks, the display drew 1,000,000 Argentines, who paid 50 pesos a head to see what they had been missing. The auction in the...