Word: deficit
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Dates: during 1960-1969
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...side of the legislature. Anyhow, it turned down Williams' proposed 5% income tax, relied instead upon inadequate sales taxes and a "business activities tax," which assessed companies not on their profits but on their total revenues, thereby discouraging new industry from entering the state. Year by year, the deficit mounted...
...office by 4,000 votes, Swainson at first tried playing pal with the legislative Republicans. He got nowhere. This year he turned tough, tried to ram through a fiscal reform program that included a 3% income tax. He still got nowhere. In the past fiscal year, Michigan's deficit increased by $13.9 million, to $85.6 million...
...Uptrend. Brown promised that he would not raise taxes if reelected; rather, he would exempt 840,000 low-income residents from the state tax rolls. He says that he will increase state aid to local schools, but he will not permit any deficit spending. His basic theme is that California is prosperous and that he and the Democrats have made it so. "We have money in the bank and our credit rating has never been higher," he says. "Today employment in California is breaking all records. In just the past year, our economy has produced 238,000 new jobs. Wherever...
...passing legislation aimed at solving Brazil's desperate economic and social problems. It rarely even produced a quorum. Since then, the problems have only grown worse. Last week Finance Minister Miguel Calmon reported that Brazil owes foreign oil suppliers $45 million and cannot pay, and that the trade deficit for the first nine months of 1962 stands at $162 million...
...their separate identity. Although per capita income averages only $65 a year, Uganda has enjoyed a favorable balance of trade for the past 25 years. But falling world prices for its principal exports-coffee and cotton-have eaten up the accumulated reserves and this year caused a budget deficit of $10 million...