Word: write-off
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Certainly, textile makers have taken little advantage yet of the write-off they were allowed last fall. After all, a businessman's capital-spending plans finally depend on the demand for his products, and with the nation's industrial plants operating at an average of only 85% of capacity, many U.S. corporations are hesitant about plunging into any big new expansions...
Curtis' president put a hopeful face on the picture. By "reductions in load, more effective use of equipment," MacNeal said, the company has "reduced expense ratios for 1962." He added that a few good years could go far toward offsetting the poor one by permitting a write-off of nearly $5,000,000 of the current deficit in tax credits...
...more and more production machinery inevitably becomes outdated, many companies limp on without replacing it because stringent tax depreciation laws make it difficult to get enough cash to modernize. Treasury Under Secretary Henry H. Fowler concedes that U.S. tax write-off allowances "are probably among the most limited in the world." Last week President Kennedy brought welcome relief to the textile industry-one of the most hampered by antiquated machines-by allowing it to concentrate its write-offs in as little as twelve years v. more than 25 years previously. Furthermore, said Kennedy, Treasury tax experts are studying the possibility...
Wage rates geared to productivity, proper depreciation laws for industry permitting sensible write-off of equipment, and curbing the monopolistic power of unions in large industries that create a continual inflationary trend are the only ways to help the economy...
...Argentines, who paid 50 pesos a head to see what they had been missing. The auction in the fourth and final week gave those with the price exactly what they wanted: the nouveaux riches got their flashy new status symbols, businessmen bought that company car and a tax write-off at the same time, and the government paid for its independence celebration. The opposition got something, too: an eight-cylinder issue to be used in twitting Arturo Frondizi's government for an austerity program that obliges the workers to tighten their belts, but permits the rich to blow millions...