Word: across-the-board
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...would cut $4 billion out of planned defense spending and $1.5 billion out of energy outlays, for example, while restoring $7 billion of cuts that Reagan wants in such programs as Medicaid, food stamps and child nutrition. On the tax side, the Democrats reject Reagan's threeyear, across-the-board slash in income tax rates in favor of a much narrower one-year reduction. The Administration's ability to counter this effort may be hampered by the enforced scrapping of Reagan's personal selling campaign for his program. The President had been sched uled to speak almost...
Tsongas likes to quote ex-Reagan opponent and current Vice President George Bush on the wisdom of across-the-board tax slashing--"It's voodoo economics." He adds that the witch doctor-in-chief at 1600 Pennsylvania Ave. will eventually be haunted by his do-all potions. Tsongas predicts that the Republicans will not realize that they have overshot the public's call for economic responsibility until it is too late, and "we have decontrol and deregulation and all these cuts, and the average American gets his heating bill, and it's gone up double, and then he remembers that...
...promptly cut income taxes: from 83% to 60% for those earning more than $50,000, and from 33% to 30% for those below. To replace the $9.5 billion in lost revenues, she raised the value-added tax (VAT), a levy on all but barest essentials, to an across-the-board 15%. Public spending in the areas of foreign aid, education, housing and municipal services was cut; housing alone was reduced $3.5 billion...
...specifying what type of tax cut they prefer, voters show strongest support for tax incentives to encourage more research and development by business (63% for vs. 24% against). A much smaller majority (51%) want an across-the-board tax cut of 10%, as promised by Reagan (vs. 25% against). Wage and price controls are still viewed positively as a solution to inflation, but by a close percentage (46% to 39%). When asked whether some environmental controls should be lifted in order to reduce the cost of consumer products like automobiles, more voters say no (46%) than...
...however, to give Reagan one thing in the short session that he has said he wanted to impose, but in his own time: a reduction in the federal budget for the current fiscal year. Mischievously, Connecticut Congressman Robert Giaimo, chairman of the House Budget Committee, tacked a 2% across-the-board spending cut onto a final budget resolution. If passed, it will put Reagan in the position of having to decide just where to cut when he comes into office instead of taking his time or perhaps adopting a different budget-cutting tactic. Warned New York Republican Barber Conable...