Word: offsets
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Closing the Loopholes. To offset part of that loss, Nixon would close some of the controversial loopholes used by the wealthy to avoid taxes. The most spectacular item is a proposed limit on tax preferences-or LTP, as alphabet-minded Washington dubbed it. It would place a 50% ceiling on the amount of a taxpayer's income above $10,000 that is eligible for favored treatment. Income would have to include the appreciated value of property donated to charity, and the ceiling would restrict the amount of deductions that a taxpayer could take for 1) oil-depletion allowances...
...Fellows' speculation hinted at an idea that must have been obvious to anyone watching the Corporation last spring. Harvard did not just need another Fellow member to beef up the Corporation's membership. It needed a new kind of Fellow to offset the Corporation's Eastern-financier image, which was already coming under attack last year...
...every reason to believe the Soviets will increase their offense if we build an ABM system, just as we did when we discovered them deploying an ABM system around MosCow. So long as it costs more to purchase an ABM than it does to build the offensive weaponry to offset it, the ABM is tenable only if your are willing to spend some multiple of your opponent's offensive budget...
Captain Bruce LoPucki, two and three down after the front nine, fought back on the second nine to defeat his Columbia opponent 5 and 4 and the Penn rival one up. Yank Heisler also, offset a bad first nine by dropping 25 and 30 foot putts. He disposed of the Quaker golfer by the 15th hold and wrapped up the match on the next hole...
Ogilvie's quick action in dealing with racial demonstrations had for the moment offset the unpopularity of his tax proposal. But the ephemeral drift of public opinion and other obstacles seem to matter little to the Governor. In three months in office he has marched without hesitation into every political minefield in sight. He has promised to "dismantle" Chicago Mayor Richard Daley's Democratic machine. He has set out to overhaul the state's fiscal program, and in his spare time to reorganize the state Republican party...