Word: martini
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...reforms, and then the Sen ate went on a spree of special tax cutting for special groups. It voted to boost the capital gains tax exemption from 50% to 60%, to grant deductions for parents with children in private schools and colleges, and to preserve the legendary three-martini lunch. Carter denounced the Senate votes as "inflationary" and "unfair." He threatened to veto the bill unless the House and Senate worked out a compromise that was more to his liking...
...month for his third summit with Leonid Brezhnev. All this hope, continues the President, coming on top of the announcement that very afternoon that U.S. inflation fell below 4%, calls for a small celebration. His guests are invited into the Blue Room for a glass of champagne, or a martini if they want...
...would have moved ahead with a modest tax cut, he says, not tried trivial tax reforms like reducing deductible martini lunches. He would have designed an energy policy to encourage new oil exploration and alternative sources, not to tax them. He would have moved harder for deregulation of natural-gas prices. He would have fought for a more restrictive federal budget and he no doubt would have a string of vetoes hanging on his belt. But he still would have called up his friend House Speaker Tip O'Neill for golf at Burning Tree to rib him about...
...Proposition 13 has become a puzzler for the rest of the nation. Some observers see it as part of a conservative backlash against the welfare state. President Carter says it vindicates his populist view that ordinary folks are rising in wrath against the well-to-do and their three-martini lunches. At the Time Inc. tax conference, Public Opinion Analyst Daniel Yankelovich, who conducts regular surveys for TIME, offered his findings...
...subject of O'Neill's derision was that basic concern of practically every American: taxes. President Carter last winter proposed a tax cut of $24.5 billion to stimulate the economy, as well as a series of controversial "reforms" highlighted by a levy drying up the "three-martini lunch" as a business deduction. But as the economy recovered, the House Ways and Means Committee reduced the tax cut and threw out almost all the reforms as well...