Word: excesses
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Feeding back "excess "profits...
Since Congress increasingly favors some sort of excess profits tax on the industry, a number of companies are coming around to a grudging acceptance of the idea, just as long as the levy would contain a so-called plowback provision that would permit them to reduce windfall taxes by investing the money in exploration. Congress could well go along with a plowback. Though Carter has attacked the scheme as a loophole "that you can sail an oil tanker through," he may find that without a plowback he will have real trouble getting...
...corporate rate of 46%, which is what they are intended to do, the credits sometimes let companies pay no taxes at all on their foreign profits. The basic reason: if a company has to pay taxes of more than 46% on its profits in a foreign country, the excess is counted as a credit. Then the company can use the credit to reduce or even totally wipe out income taxes owed...
Mariel Hemingway as Allen's 17-year-old lover suffers the same verbal excess. When Allen tells her he has found another woman, she responds, "We have laughs together. We have good times. Your concerns are my concerns. We have good sex." The curtain of the drama rips to reveal a scriptwriter desperately hanging more significance on the lines than they can handle...
...they then describe in detail how U.S. defense spending could be reduced by 40 per cent. They propose cutbacks in the forces "which are primarily useful not against the U.S.S.R. but against the lesser military powers in the poorer half of the world, like Vietnam," and in "the vast excess in the quantity of nuclear weapons" that the U.S. now has and continues to build. They recommend that we do without our nuclear bombers and land-based missiles; the nuclear submarine force, the most invulnerable to Soviet attack, could also be substantially reduced...