Word: crediting
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Dates: during 1960-1969
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Some tax breaks for businesses were also modified. The bill calls for a repeal of the 7% business investment tax credit, a reduction from 27½% to 22% of the oil depletion allowance, and increased taxes on high-bracket capital gains. The bill puts a 4% tax on the investment income of foundations-a compromise between a stiff House bill and a nominal Senate measure...
...consumer-price increases that were running at a 6% annual rate. Arthur Burns, who will become chairman of the Federal Reserve Board on Feb. 2, conceded to a Senate committee that the U.S. faces a "danger" of recession. He spoke cautiously of a relaxation of the board's credit squeeze-if Congress passes a noninflationary tax bill and President Nixon can keep the fiscal 1971 budget in balance. Despite those enormous hedges, his comments marked a considerable change in tone from his October statement that the Nixon Administration "will not budge" from restrictive policies. The stock market reacted -perhaps...
...echoes sometimes blend into a solid chorus, credit must be divided between Director Gene Kelly and his choreographer, Michael Kidd. Ernest Lehman's script is based on the Broadway musical (which was based on Thornton Wilder's farce The Matchmaker). It is woven from a solitary yarn. Matchmaker Dolly Levi sets great store by Horace Vandergelder's feed and grain store and decides to snare him for her own. She does. Curtain. In between their coy runaround, tiny complications arise. None of them matter, but several are the premises for blithe and sumptuous dance numbers. The most...
Businessmen are still borrowing expansively and betting on continued inflation. They figure that demand will remain high, and so they had better build plants and buy equipment now instead of waiting until prices go up still further. Despite dwindling profits, scarce credit and excess capacity, the Government's latest survey shows that businessmen plan an 11% increase to $71 billion in their investment for plant and equipment next year. Capital spending has been an important force behind inflation in recent months, and such an increase would add greatly to price pressures...
...forthcoming economic decline. The worst depressant in the market undoubtedly has been tight money. The market frequently falls before recessions and rises when they occur; thus a 1970 recession would not necessarily make stock prices fall further. But it will be hard for stocks to rally briskly until credit is eased. Economists generally expect that interest rates will taper off slightly?perhaps by 1% or a bit more?as production and demand slacken in the year ahead, but that they will stay fairly close to their historic highs for as far ahead as anyone...