Word: enacts
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Upon learning of such things at a distance, most men feel not only revulsion, but also a proper urge to enact society's revenge. Lock the bums away forever. At the same time, they can still imagine what it feels like to be present at the atrocities, even for the briefest instance; every life has analogues of its own. The essential circumstance is that of the mob, always a terrifying entity, whatever its goal. One thinks of lynch mobs before rape mobs, but all mobs have the same appearances and patterns, the same compulsion to tear things down...
Economic recovery and the compounded effect of tax increases and spending cuts would whittle the deficit to $148 billion in fiscal 1986, $142 billion in 1987 and $117 billion in 1988. These projections assume that Congress will enact standby increases in oil and income taxes that would go into effect on Oct. 1, 1985, under three conditions: that the legislators first pass all of Reagan's spending reductions; that the deficit still seems likely to exceed 2.5% of gross national product, or $100 billion a year; and that the economy is not in a recession...
After some eleventh-hour fluttering, the White House also settled last week on the outlines of its tax proposals. Reagan was expected to ask Congress to enact immediately a levy on imported oil and a surcharge on individual income taxes that would not go into effect until Oct. 1, 1985, and then only if the deficit in the fiscal year that begins on that date seems likely to exceed 2% of G.N.P. That would work out to around $100 billion of red ink a year. The President's hope is that spending cuts and economic recovery will make...
Reagan was expected to leave himself another out: the tax boosts would take effect only if Congress in the next two years fails to enact a tax simplification plan. The President intends to pledge that he will study and eventually submit a proposal that would trade wholesale repeal of exemptions and deductions for a lower and narrower range of income tax rates than the present 14% to 50%. That would be a variation of the flat-tax idea that many reformers, both conservative and liberal, urge on grounds of both simplicity and equity (since everyone with approximately the same income...
...Congress to enact huge standby tax increases to go into effect in 1986 if, and only if, deficits by then still seemed likely to exceed $100 billion a year or so. Current thinking is to propose new taxes calculated to take in approximately $100 billion over a three-year period. One would be a $7-per-bbl. tax on imported oil; a much more direct levy would be an income-tax surcharge of perhaps 8%. That is, every taxpayer would add up his or her bill under the rate schedules now written into law, then pay another...