Word: gdp
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
...since Reagan's so-called supply-side cuts blasted an enormous hole in the budget - the President had to come back in 1982 with the largest peacetime tax increase in American history: the Tax Equity and Fiscal Responsibility Act, which raised $37.5 billion, or 1% of gross domestic product (GDP), per year. He also signed a $3.3 billion gasoline-tax increase. The next year, he signed another whopping tax hike, designed to save Social Security...
...from Walter Mondale to John Kerry - who got clobbered for hinting that they might want to, uh, raise revenues. An antitax fetishism has overwhelmed both parties. Along the way, despite the melodramatic rhetoric, the actual rate of federal taxation has wobbled a bit, from a high of 20.9% of GDP in 2000 to a recession-driven low of 17.7% last year, but averages out to just under 19% from 1980 to today. If the not-so-onerous Clinton tax rates are restored when the economy recovers, the federal Treasury would be enriched by nearly $300 billion per year...
...none of this is to mention that Afghanistan is a country swimming in the heroin trade. Illicit narcotics is conservatively put at $3 billion a year - about 15% of Afghanistan's GDP. Finding someone not one way or another involved in it is next to impossible. (See six ways...
...India's farming areas suffering from drought this year, the government will have a tough time meeting its economic-growth targets. In an August report, Goldman Sachs predicted that this year's weak rains could cause agriculture to contract 2% this fiscal year, making the government's 7% GDP-growth target look "a bit rich." Even Thakare, with his pond, may not have enough water to plant his extra crops this year. Abusaleh Shariff, a senior fellow at IFPRI's New Delhi office, argues that allocating money is only part of the government's task. The farmers also need better...
...company, just one month after a massacre of protesters by government troops drew international condemnation. The unnamed firm will dig for diamonds, gold and bauxite and provide Guinea with much-needed revenue as it faces the prospect of economic isolation. The deal--which could give Guinea's $23 billion GDP a massive boost--puts China in direct competition with U.S. and Russian mining companies. China's trade interests in Africa have increased tenfold since...