Word: basic
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Dates: during 1940-1940
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...chief fault was its crudeness. Its basic principle: any corporate earnings above 8% on invested capital were "excessive," should be taxed at 30 or 65% (later reduced to 20 or 40%). This was in effect to treat all capital as though it bore the same risk, should earn the same return. But "invested capital," an artificial concept, was only one among many income-producing factors. Results were a tragicomedy of discrimination. Small, growing, high-profit companies found themselves in higher tax brackets than mature, stabilized giants. Corporations with little capital other than their wits (advertising agencies, etc.) paid at higher...
...phonograph needle -vegetable (fibre, thorn), metal (steel, brass, chromium, etc.), mineral (sapphire) -has had its champions. Meantime, most people keep on buying steel needles. Last year 750,384,450 needles were sold in the U. S. Last week Philco Radio & Television Corp. needled the phonograph industry with its first basic change since electrical reproduction (1925). Philco put on sale a machine ($129.95 to $395) with a built-in needle intended to be easier on records, and longer-lived, than any other yet developed...
...relative superiority of the defense over the offense appeared to be an established and basic fact...
...fact that the Germans were able to break the Belgian positions in two places-where, incidentally, they seemed to be strongest-and the 'Little Maginot Line,' is not simply an incidental surprise of this war. Its real meaning is that fundamentally our concepts of basic military facts are proved to be largely in error...
...Basic reasons: new alloy steels, vast technical advancement in construction and bridge theory (John Roebling did not even know the theory when he built his World Wonder). A big factor in modern bridge masterpieces is one Engineer John Roebling never heard about: the professional bridge designer and architect. To him must go substantial credit for creating modern bridges which begin to approach in delicate, aerial appearance what bridges have always stood for in men's imagination...