The three-martini lunch or noontime three-martini is a term used in the United States to describe a leisurely, indulgent lunch enjoyed by businesspeople or lawyers.It refers to a common belief that many people in the above-mentioned professions have enough leisure time and wherewithal to consume more than one martini during the work day. The 3-martini lunch became particularly identified in popular culture with Madison Avenue advertising executives in the 1960s and 1970s, who supposedly became more creative after such lunchtime libations.
As business matters may be discussed at them, three-martini lunches are considered a business expense (which includes travel, meals, etc.) and thus can qualify for a tax deduction if such lunches occur infrequently.
The three-martini lunch is no longer common practice for several reasons, including the implementation of "fitness for duty" programs by numerous companies, the decreased tolerance of alcohol use,a general decrease in available leisure time for business executives, an increase in the size of the martini, and a decrease in the size of the tax deduction.
President John F. Kennedy called for a crackdown on such tax breaks in 1961, but nothing was done at the time.Jimmy Carter condemned the practice during the 1976 presidential campaign. Carter portrayed it as part of the unfairness in the nation's tax laws, claiming that the working class was subsidizing the "$50 martini lunch". A "rich businessman" could write off this type of lunch as a business expense, thereby reducing the cost by his effective tax rate. His opponent, Gerald Ford, in a 1978 speech to the National Restaurant Association, responded with: "The three-martini lunch is the epitome of American efficiency. Where else can you get an earful, a bellyful and a snootful at the same time?"
It was once popular in Washington, D.C. but has declined since the early 1990s.The practice has also been affected by changing views on alcohol consumption, while others have chosen to go with new drinks like the vodka Martini and Cosmopolitan. The cost of some drinks have increased three times faster than the inflation rate.
The entertainment deduction, which includes meals, was reduced to 80 percent in 1987and to 50 percent in 1994.
Comedian George Carlin once commented that the crackdown on the three-martini lunch "shouldn't affect the working man's two-joint coffee break".
Reaganomics, or Reaganism, refers to the economic policies promoted by U.S. President Ronald Reagan during the 1980s. These policies are commonly associated with and characterized as supply-side economics, trickle-down economics, or voodoo economics by political opponents, while Reagan and his political advocates preferred to call it free-market economics.
The Economic Recovery Tax Act of 1981 (ERTA) was a major tax cut designed to encourage economic growth. Also known as the "Kemp–Roth Tax Cut", it was a federal law enacted by the 97th United States Congress and signed into law by President Ronald Reagan. The Accelerated Cost Recovery System (ACRS) was a major component, and was amended in 1986 to become the Modified Accelerated Cost Recovery System (MACRS).
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In accountancy, depreciation refers to two aspects of the same concept: first, the actual decrease of fair value of an asset, such as the decrease in value of factory equipment each year as it is used and wears, and second, the allocation in accounting statements of the original cost of the assets to periods in which the assets are used.
A ploughman's lunch is an English cold meal based around bread, cheese, and onions, usually accompanied by butter and pickles. Additional items such as ham, green salad, hard boiled eggs, and apple can be added. As its name suggests, it is most commonly eaten at lunchtime, is particularly associated with pubs, and often accompanied with beer.
A free lunch is the providing of a meal at no cost, usually as a sales enticement to attract customers and increase revenues from other business. It was once a common tradition in saloons and taverns in many places in the United States, with the phrase appearing in U.S. literature from about 1870 to the 1920s. These establishments included a "free" lunch, which varied from rudimentary to quite elaborate, with the purchase of at least one drink. These free lunches were typically worth far more than the price of a single drink. The saloon-keeper relied on the expectation that most customers would buy more than one drink, and that the practice would build patronage for other times of day.
A corporate tax, also called corporation tax or company tax, is a direct tax imposed by a jurisdiction on the income or capital of corporations or analogous legal entities. Many countries impose such taxes at the national level, and a similar tax may be imposed at state or local levels. The taxes may also be referred to as income tax or capital tax. Partnerships are generally not taxed at the entity level. A country's corporate tax may apply to:
The Richard B. Russell National School Lunch Act is a 1946 United States federal law that created the National School Lunch Program (NSLP) to provide low-cost or free school lunch meals to qualified students through subsidies to schools. The program was established as a way to prop up food prices by absorbing farm surpluses, while at the same time providing food to school age children. It was named after Richard Russell, Jr., signed into law by President Harry S. Truman in 1946, and entered the federal government into schools dietary programs on June 4, 1946.
In restaurant terminology a table d'hôte menu is a menu where multi-course meals with only a few choices are charged at a fixed total price. Such a menu may be called prix fixe. The terms set meal and set menu are also used. The cutlery on the table may also already be set for all of the courses.
A school meal or school lunch is a meal provided to students and sometimes teachers at a school, typically in the middle or beginning of the school day. Countries around the world offer various kinds of school meal programs. Each week day, millions of children from all standards and grades receive meals at their respective schools. School meals in twelve or more countries provide high-energy food with high nutritional values either free or at economical rates.
The Energy Policy Act of 2005 is a bill passed by the United States Congress on July 29, 2005, and signed into law by President George W. Bush on August 8, 2005, at Sandia National Laboratories in Albuquerque, New Mexico. The act, described by proponents as an attempt to combat growing energy problems, changed US energy policy by providing tax incentives and loan guarantees for energy production of various types.
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United States v. Correll, 389 U.S. 299 (1967), is a case in which the United States Supreme Court ruled 5-3 that in order for the taxpayer to be allowed to deduct the cost of his meals incurred while on a business trip, the trip must have required him to stop for sleep or rest.
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The following outline is provided as an overview of and topical guide to cuisines:
Retail food delivery is a courier service in which a restaurant, store, or independent food-delivery company delivers food to a customer. An order is typically made either through a restaurant or grocer's website or phone, or through a food ordering company. The delivered items can include entrees, sides, drinks, desserts, or grocery items and are typically delivered in boxes or bags. The delivery person will normally drive a car, but in bigger cities where homes and restaurants are closer together, they may use bikes or motorized scooters.
Consider the business lunch, made famous by former President Carter labeling it the "three martini lunch" ... presumably the business nature of the meal requires expenditure in excess of what the lawyer would spend on his usual lunch ... Suppose, however, that the lawyer and client have lunch together every day of the week...[s]hould either of them be able to deduct those everyday meals? Likely not, even for 50% of the cost of the meals. At least one U.S. Court of Appeals has said no in a case involving members of a law firm who met at lunchtime every day...
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