Word: cuttingly
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Dates: during 1980-1989
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Reagan's tax cuts only worsened the skew. Though income tax rates were reduced in all brackets, the cuts were tilted heavily toward the upper end of the scale. In addition, Social Security taxes about tripled, to a top of $3,379.50 this year. The blow fell most heavily on the middle and lower classes, since the Social Security tax exempts the portion of wage and salary incomes above $45,000 a year and all income from interest, dividends and rent. The result: according to a Congressional Budget Office study, only the top 10% of the population received a significant...
They live outside the margins of ordinary American life, isolated and unassimilated, a Third World society within a First World nation. Theirs is a Hobbesian universe where life is nasty, brutish and often cut short by violence, disease and drugs. They live lives without: mothers without husbands, men without work, families without homes, days without structure, neighborhoods without hope. They are America's Underclass, a disturbing daily reminder that American Democracy has not measured out liberty and justice...
...Deng Xiaoping's gai ge (reform) face opposition. Barriers to reform in the Soviet Union are an entrenched bureaucracy and a growing indifference on the part of citizens who have yet to see a tangible return for their requested sacrifices. In China people are balking at being asked to cut back after a decade of reform- engendered prosperity. Both plans, moreover, face dilemmas on the crucial but politically explosive problem of price reform, a matter that in China recently led to the worst outbreak of panic buying by consumers in nearly 40 years...
Price reform has been acknowledged by Gorbachev as an essential element of perestroika and an eventual certainty on the Soviet agenda. But mindful of the disruption that such reform has caused not only in China but also in parts of Eastern Europe, he has done virtually nothing to cut back on state subsidies for everything from bread to meat and butter, which keep prices low but drain off billions of rubles annually. So far the leadership has not presented any plan for price reform, but the issue has triggered public debate. Says a parliamentary deputy: "Prices are not so much...
...then to 24, but was unable to attain even that. Given the shuttle program's tremendous overhead and fewer flights, the cost for each launch rose from a promised $10 million to as high as $300 million. In a frantic effort to accelerate its schedule, NASA began to cut corners. Officials at the Marshall Space Flight Center responsible for certifying the launchworthiness of the external tank, the boosters and the main engines of each shuttle began issuing more and more waivers on questionable "criticality" items like the O rings that had shown signs of erosion and charring on earlier flights...