Word: bitefuls
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WILLIAM GREIDER HAS ALL THE credentials to be another Inside-the-Beltway TV- talk-show bore serving up sound-bite-size portions of predictable punditry. Back in 1972 when he was covering the McGovern campaign, Greider was one of Timothy Crouse's original Boys on the Bus. While an editor of the Washington Post, he prompted David Stockman's explosive 1981 confessions that Reaganomics was a fraud. A dogged reporter undeterred by smoke-and-mirrors complexity, Greider plumbed the depths of the Federal Reserve in his 1987 best seller, Secrets of the Temple...
Citibank, largest issuer of credit cards in the U.S., announced that as of June 1 it will reward its best customers with lower credit-card interest rates -- as little as 13.9% for Preferred Members. Other banks will probably follow, taking the bite out of congressional complaints about high rates and starting a war that consumers...
...Bushes' case, the tax bite was further reduced this year by the fact that they contributed to charity all the after-tax proceeds of the book that the First Lady penned in the name of their dog, which earned $889,176 in royalties. If the Bushes had kept those royalties and not taken a charitable deduction, their tax bite would probably have been higher. But even in 1990, when their reported total income was $452,803, the Bushes paid only 23% of their earnings in federal taxes because of the cap on Social Security contributions and various investment deductions. Even...
...TYPICAL WORKING COUPLE MAKING $53,000 PAID ABOUT 28% of its 1991 income in total federal taxes. Mr. and Mrs. George Bush, who reported a total income of $1,329,580, paid only 16%. The First Family did nothing illegal: their tax bite was similar to that of the other 62,000 U.S. households with annual incomes of more than $1 million. One big reason for this disparity is that Social Security payroll taxes exempted income above $53,400. Social Security taxes doubled in the past decade, even as the top rate of income tax was cut sharply...
...MUAMMAR GADDAFI HAS ANY FRIENDS LEFT IN the world, they are keeping a decidedly low profile. After refusing once again to hand over two suspects in the 1988 bombing of Pan Am Flight 103, Gaddafi discovered just how hard U.N. sanctions could bite. On Wednesday, after the World Court declined Gaddafi's request to halt the sanctions, a ban on commercial flights in and out of Libya went into effect. Cairo and Tunis ordered Libyan planes headed for their countries to turn around, and Rome even dispatched several F-104 jets to intercept a Libyan passenger plane about to enter...