TAXATION: Spelling Bee

“Actually, any one who gives the matter unbiased consideration will realize that it is for the benefit of the rich to plug loopholes in tax laws, since this raises more revenues without raising rates.” With this neat bit of logic, Secretary of the Treasury Henry Morgenthau Jr. last week opened the great 1937 hunt for rich tax dodgers launched so suddenly by him and Franklin Roosevelt early this month .

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Why Sports in LA Are in Disarray

On April 20, Major League Baseball took control of the Los Angeles Dodgers, a team whose overleveraged owner is going through a humiliating public divorce and steering the franchise towards bankruptcy. The Dodgers’ financial situation had been so dire that last week Frank McCourt, who is fighting for ownership of the team with his estranged wife, Jamie, needed a $30 million loan from Fox, the team’s television partner, to make payroll.

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