Word: funding
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Dates: during 1980-1989
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...inflation. If a stock has doubled during a time when the general price level has also doubled, the real profit is zero, but you'll pay a capital- gains tax anyway when you sell. Of course, the same is true of interest -- an 8% return on a money-market fund at a time of 5% inflation is really only 3% -- but no one is proposing to do anything about that. Furthermore, no one is proposing to limit the deduction for interest paid. In a world with no taxes, it would not make sense to borrow at 10% for an investment...
...perestroika will depend on the Soviets, but Washington can help Gorbachev by reaching agreements to cut conventional arms and strategic nuclear arsenals. In addition, Shevardnadze in his speech last week spoke of Moscow's desire to join such Western economic institutions as the World Bank, the International Monetary Fund and GATT (the General Agreement on Tariffs and Trade). Like Hungary, the Soviet Union could benefit from most-favored-nation trade status...
...Civil War, they started sending money to the North for bronze statues. We've got a bunch of them here, and I think you'll find that most people don't give a damn about memorials." He sees the real reason for the memorial this way: "A wonderful fund raiser for Morris. He came to Montgomery to do good, and he's done very well...
...become a cliche that the Indians would have made out like bandits if they had merely invested the $24 they got at 8% (let alone in Fidelity's Magellan mutual fund). They'd have had $32 trillion by now. But the point is, they didn't take cash and invest it, they took trinkets. Today we're taking Nintendo games and Honda Preludes...
Only about one in five Bay Area homes was covered by earthquake insurance, and generally for only 85% to 90% of its value. (Earthquake insurance can cost as much as $800 a year for a $200,000 house.) Jack Byrne, chairman of Fireman's Fund, figures that insurers will eventually shell out $2.5 billion to repair earthquake damage. They stand to recover perhaps two-thirds of that from international reinsurers -- Lloyd's of London is the biggest -- which protect insurers against catastrophic losses. Still, the earthquake claims, coming less than a month after the devastation caused by Hurricane Hugo, could...