Word: defers
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PRESIDENT REAGAN'S "New Federalism," unveiled in his State of the Union message last week, contains little that is new or encouraging. It is merely a new Providential packaging of repressive economic policies in fancy language, the latest in a series of smokescreen to defer responsibility for the devastating impact of his policies on this nation's poor. We urge Congress to stand up to the Administration by rejecting its latest initiative. If it does not, the President's string of deceptive attacks on America's needy will only grow longer and cause more suffering...
Labor unions have already begun making substantial concessions in an attempt to safeguard jobs. Chrysler workers in the past two years have accepted benefit cuts and deferred pay increases amounting to $1.1 billion. Employees of Braniff Airways last March took a 10% pay cut, and pilots have agreed to fly ten extra hours a month, five of them without pay. Nine union locals at Uniroyal rubber plants have accepted a new contract that calls for sacrifices of $54.9 million over three years. The United Food and Commercial Workers Union that represents meat packers has agreed to defer some cost...
...guaranteed student loans. These changes will not affect Harvard students significantly until 1983 but the future effects are expected to be significant both in terms of reduced availability of grants and reduced access to the guaranteed loan market. Loans are important not only to those who must borrow to defer the cost of their college education to the years when they will earn sufficient income to support the cost but also to those who require temporary liquidity to permit them to meet current costs of higher education without resorting to the sale of assets. Precise analysis of the effect which...
...that has received by far the most attention, is the phased 23% reduction in rates by 1984. Though there was a 5% drop in rates on Oct. 1, they will decline by 10% more next July 1. Thus many financial consultants are now telling their clients to defer the receipt of year-end income, if possible, until early next year so that the money will be taxed at the lower 1982 rate. Said Ken Treat, a regional director of H & R Block tax advisers: "Payments for rents, dividends, loans, salaries, bonuses and all flexible income should be delayed until after...
...added that it is "hard to tell" whether the governor would sign it, but said, "I would hope that he would defer to the interests of the people of Cambridge...