Word: flatness
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Dates: during 1990-1999
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...lodge fitfully between that part of the brain that stores miracle grapefruit diets and the part that remembers Valentine's Day, there is still a discernible trend. Its name is Steve Forbes. And what settles into the distracted consciousness is something like this: Forbes. Not from Washington. Good. Flat tax? Hmmm. Seventeen percent tax rate? Hmmm...
...there is one Forbes idea most of his supporters can name: the flat tax, which 27% of those surveyed gave as their No. 1 reason for preferring him. Says Cindy Connelly, 33, a part-time bank teller in Cope, South Carolina: "Other than the flat tax, I really don't know a whole lot about him, but what I have heard I like. The income tax is made with loopholes for the rich...
Talk with Forbes supporters, and their common theme is that they would like to know more. They will. He is being challenged to clarify his stand on issues beyond the flat tax. As for that one, he acknowledges it would generate less government revenue, which could mean either a higher deficit or even heavier spending cuts in such places as Medicare. Voters may end up liking the flat tax the way they like budget cutting, which makes them flinch when the blade gets close...
...range it held throughout 1995. More ominously, total payroll employment dropped by 201,000 jobs, the biggest decline in nearly five years. The Labor Department put much of the blame on the East Coast blizzard, but some economists suspect that even with normal weather employment would have been flat...
...late," argues Allan Meltzer, professor of political economy at Carnegie-Mellon University. Says Irwin Kellner, chief economist of Chemical Bank: "A quarter point will help a wee bit, but it's going to take more than that to get this economy going." One signpost: house sales lately have been flat, despite a drop in mortgage rates...