Word: annually
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Dates: during 1960-1969
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...three-step rise in the standard tax deduction-now $1,000 or 10% of income, whichever is less-to $2,000 or 15% by 1973. The feature is designed to aid lower-and middle-income groups. > An additional $1,100 income exemption for those with annual earnings of $3,300 or less, aimed at removing 5,500,000 poor families from the tax rolls. > A new schedule for single taxpayers designed to narrow the gap between what they pay and what is paid by married people with the same income. Single people now pay up to 40% more...
...cruel hoax was perpetrated on the contestant, spectators, and Aunt Jemima at Wednesday's first annual Quincy House Pancake Eating Contest, The official winner, the Raccoon, admitted that an integral part, in fact the only part, of his training had been smoking a drug known as marijuana. He also said that he had had two joints before the contest...
...years ago. The radicals disapprovingly call this process "corporation." The ungainly word sums up the best political hope for the decade: that the broad middle of American society will adopt the legitimate ideas of the radicals (as it has come close to adopting the idea of a guaranteed annual wage) while discarding the excesses. Finally, it seems inconceivable that strife can go on indefinitely through the '70s without a profound longing for civil peace reasserting itself. This should be a cue not for repression but for imaginative, inspirational leadership...
Reasonable Ground. It was Brandt, scarcely 50 days in office as Chancellor, and the leaders of the Warsaw Pact nations who held the spotlight. "We are interested in agreements that supersede the past," Brandt said last week. With Western approval of his policy written into the communique of the annual NATO meeting in Brussels two weeks ago, Brandt is determined to achieve understandings with the East on just about any reasonable ground. Last week alone there were these results...
...year rate, even though inflation was on the rise. Too late, says Friedman, the board reversed itself too emphatically, and caused the "credit crunch" of August 1966. In 1968, the board, fearful that the tax surcharge would overburden the private economy, increased the money supply at an average annual rate of 10%?almost twice the rate that the economy could absorb without inflation. Then, a year ago, the board switched to its restrictive money policies. Six to nine months after these gyrations occur?and sometimes much later?they significantly affect the performance of the whole U.S. economy...