Word: exempts
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...future deficits. President Karl Taylor Compton said that this year's budget was balanced, but the M. I. T. faculty voted anyway to lay up a reserve as follows: Between next Dec. i and July 1, 1933, the staff will give up 10% of their salaries, with $500 exempt. If M. I. T. does not need all of this fund, it will be pro-rated back at the end of the period. The remainder of the reserve fund involves a much-discussed source of university income: the 50-50 split on money earned (generally in industrial research) by teachers...
...historic step, abandoning her sacrosanct principle of a "Free British Meal Table" (no tariffs or insignificant tariffs on foods). Under the Ottawa agreements the London Parliament is to bind itself for five years to maintain a myriad of tariffs on foodstuffs, from which Canadian edibles will mostly be exempt. It is this tying of Britain's hands which some of her greatest lawyers have flayed as unprecedented in British constitutional history (TIME...
...then founded a dozen Indian boarding schools in the far West. Katharine Drexel planned an order devoted to the Indians, learned she must first undergo the usual convent discipline In 1889 she pledged her entire income to the Roman Catholic Church (estimated at $1,000 a day, it is exempt from Federal Income Tax by special Act of Congress in 1924) and entered the Pittsburgh Sisters of Mercy as a postulant...
...somewhat scattered group of foreign students, some of whom are dependent on their part time earnings to fulfill scholarship obligations, and whose jobs cannot greatly relieve domestic unemployment, are to be deprived of work to help them meet expenses. The foreign students form a group which should be exempt from this type of restriction...
...tools of socialization, inheritance and income taxes would be boosted sky-high to break up private fortunes, reduce personal profits, abolish unearned income. Tax-exempt securities would be closed as a refuge for the rich...