Word: giveaways
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Dates: during 1980-1989
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...Communist containment." Two decades later, the New Nixon's policy of detente ran into a buzz saw of bipartisan anti-Soviet opposition. When a Watergate-wounded Nixon went to see Leonid Brezhnev in the Crimea in 1974, he refused to visit Yalta nearby, lest anyone accuse him of another giveaway. It was all for naught: the traveling White House press gleefully filed stories with the dread dateline...
...Washington do? Once again, it lost itself in a politically irresistible orgy of tax reduction. By voting to fulfill George Bush's campaign promise and cut capital-gains taxes, House Republicans and renegade Democrats jumped at a short-term boost in revenues against a long-term loss. The giveaway fractured the foundation of the landmark 1986 tax-reform law. The drain on the Treasury could be compounded when the measure reaches the Senate, where it is expected to pass, and Democrats try to extend the tax breaks on individual retirement accounts. It seemed like a classic outbreak of "now-nowism...
...redeemed. It was one of the few campaign issues on which George Bush took a beating from Michael Dukakis; Bush's congressional allies introduced legislation, but with no real hope of passage. When the proposal began to gather surprising momentum, Democratic leaders denounced the idea as a giveaway to Bush's rich friends and thundered about a "defining issue" -- one on which Democrats should hold fast to demonstrate just what the difference is between their party and the Republicans. For Bush to prevail in the House, even assuming total G.O.P. support, he needed no fewer than 42 Democratic defectors...
...once powerful chairman of the House Ways and Means Committee, Illinois' Dan Rostenkowski, suffered a stinging setback when six committee Democrats joined all 13 Republicans to help Bush redeem a campaign pledge to reduce this tax. Although Democrats denounced the idea in last year's presidential campaign as a giveaway to the rich (60% of its benefits will go to people with incomes of more than $200,000), the measure is expected to pass in the House. Mitchell vows to try to derail it in the Senate, but he is without the support of Texas' Lloyd Bentsen, who as chairman...
...pool of investment funds, a goal of the capital- gains reduction. Before IRA deductions were restricted in 1986, however, they cost the Treasury $16 billion a year in lost taxes. Bentsen's proposal is unlikely to stop the stampede to cut capital gains, and it could become the next giveaway that Congress and the President will seize upon. But the prospect of a huge loss in revenue at a time of record deficits will probably prove unacceptable...