Word: dollarization
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Dates: during 1980-1989
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House leaders are considering a plan that would increase the 5 percent sales tax by a penny on the dollar and broaden it to apply to additional items. Also under consideration is a gasoline tax increase to raise money to repair roads and bridges...
What makes enforcement so difficult is a financial murkiness that has long frustrated tax collectors as they search for dirty money afloat in the world's oceans of legitimate payments. The multibillion-dollar flow of black money, the profits from criminal enterprise, moves through the world's financial institutions as part of a vastly larger quantity of gray money, as bankers call it. This dubious, laundered cash amounts to an estimated $1 trillion or more each year. Often legitimately earned, this money has an endless variety of sources: an Argentine businessman who dodges currency-control laws to get his savings...
...packed in seagoing freight containers, which are almost never inspected. That explains, in part, why U.S. officials are unable to locate fully 80% of all the bills printed by the Treasury. Once overseas, the cash is easy to funnel into black markets, especially in unstable economies where the dollar is the favored underground currency...
...high, says Republican Senator John Chafee of Rhode Island, that pro-environmental bills now get "a tidal wave" of support in Congress. In elections to the European Parliament, Green parties scored impressive gains. In Hungary protests from local environmentalists led the government to cancel a $ controversial multibillion-dollar hydroelectric-dam project. And in the Soviet Union the budding Green movement showed its muscle by shutting down a new chemical-weapons dismantling facility in the Siberian town of Chapayevsk. "In the future," said Soviet People's Deputy Alexei Yablokov, "the Green movement may be so strong that without its support...
...then there was Winthrop Professor of History Stephan Thernstrom ("friendly attitude"--the CUE Guide). At the same forum, he placed a five dollar bill on the table, betting Assistant Professor of Sociology and of Afro-American Studies Roderick J. Harrison that Black professors at other Ivy League universities are "unqualified" as academics...