Word: gephardts
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Part of the party's challenge is to realize a domestic vision that preserves the egalitarian ideal while promoting the prospect of individual opportunity and economic growth. Two Democrats at the forefront of such a strategy are New Jersey Senator Bill Bradley and Missouri Representative Richard Gephardt. They have proposed a simplified income tax plan that would eliminate all but a few personal deductions and lower significantly the rates for most taxpayers. Hart has talked about establishing individual training accounts for workers who are forced into new jobs...
...cool rationalism of such an approach is well suited to its purveyors. Those who articulate it best-like Congressmen Richard Gephardt of Missouri and Timothy Wirth of Colorado and Senators Bill Bradley of New Jersey and Dodd of Connecticut-tend to share a generational outlook. They are the post-Viet Nam generation, liberal but nondogmatic...
...increasingly popular Democratic idea would reform, in a massive way, the complexities and inequities of the tax code. The Bradley-Gephardt tax reform bill would eliminate all but the most basic deductions (home mortgages, charity, payments to retirement plans) and offer instead reduced yet still graduated tax rates of 14% to 30%. "It would allow Democrats to argue for economic growth through lower tax rates and fairness through closing loopholes, and it would raise an additional $25 billion to $30 billion over three years," declares Senator Bradley...
Even after these cuts, said Rivlin, annual tax revenues would have to be raised by about $100 billion to balance the budget. She favors a tax reform of the type proposed by Senator Bill Bradley of New Jersey and Representative Richard Gephardt of Missouri. Their plan, which would eliminate many loopholes, could raise revenue and also lower tax rates. Said Rivlin: "I am fairly optimistic that Congress, realizing it needs a lot of revenue, will go for a major reform...
...pair of Republicans, Congressman Jack Kemp of New York and Senator Robert Kasten of Wisconsin, are preparing a bill similar in many ways to the Bradley-Gephardt plan, but the top rate would be 25% instead of 30%. Says Kemp: "I think the chances are fifty-fifty we'll pass something...