Word: exemption
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Dates: during 1990-1999
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...Number of U.S. residents who earn more than $200,000 a year and avoid paying any tax, thanks to tax-exempt interest...
Harvard was the topic of discussion at last night's City Council meeting, as city administrators presented a detailed report explaining how much Harvard pays Cambridge each year in lieu of taxes for property that is tax-exempt affiliate housing...
...report, presented by Assistant City Manager for Fiscal Affairs James P. Maloney and City Manager Robert W. Healy, said Harvard pays about $1.2 million to the city for its tax-exempt property each year, in addition to the $2.6 million it pays for its taxable property...
According to the report, Harvard's assets at DeWolfe Street, 29 Garden St., Haskins Hall, Holden Green and Peabody Terrace are several of its affiliated housing properties that are exempt from taxes each year. Its commercially leased buildings, including many in Harvard Square, remain fully taxed, Maloney said...
Even then, Keynes had a hard sell. Most economists of the era rejected his idea and favored balanced budgets. Most politicians didn't understand his idea to begin with. "Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist," Keynes wrote. In the 1932 presidential election, Franklin D. Roosevelt had blasted Herbert Hoover for running a deficit, and dutifully promised he would balance the budget if elected. Keynes' visit to the White House two years later to urge F.D.R. to do more deficit spending wasn't exactly a blazing...