Word: grosse
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Dates: during 1990-1999
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...school, his wife went back to work, and she now makes $50,000. It sounds like a lot of money, even to him. But his job is in the big city, where federal, state and local income taxes, which have not changed, eat up nearly a third of his gross household income and nearly half of every raise. On an after-tax basis, his wife's job barely covers the cost of dry cleaning and a mother's helper, without whom she could not work. Manager's nothing-fancy four-bedroom, two-bathroom house cost...
...Latter-day Saints hierarchy (which provided some financial figures and a rare look at church businesses), TIME has been able to quantify the church's extraordinary financial vibrancy. Its current assets total a minimum of $30 billion. If it were a corporation, its estimated $5.9 billion in annual gross income would place it midway through the FORTUNE 500, a little below Union Carbide and the Paine Webber Group but bigger than Nike and the Gap. And as long as corporate rankings are being bandied about, the church would make any list of the most admired: for straight dealing, company spirit...
...married, and their offspring, the baby-boom generation, swelled the population 18.4%, to 178 million. Everybody went shopping: consumer spending--adjusted for inflation--surged 38% in the decade. As families grew, demand for hospitals, schools and homes took off. All this activity lifted the average annual growth in real gross national product by 4.8% from 1947 to 1953, slowing to 2.5% for the rest of the decade. Globally, the U.S. economy ruled...
WHAT KILLED THE BOOM The strain of being both an economic and a military superpower started to show. The federal deficit in 1959 jumped to 2.6% of gross domestic product, the largest since 1946. By the 1960s, ambitious social programs and the widening war in Vietnam led to higher taxes, while economies in Europe and Asia began to make inroads against...
...rest of the world struggled with stagflation (high unemployment and inflation). Japan racked up some $400 billion in trade surpluses in the decade. Indeed, by the end of the '80s, Japan had reached a standard of living that exceeded the U.S.'s (besting it by 17% as measured by gross national product per capita). Japan's ability to improve products and lower prices compensated for its lack of world-class technological innovation...