Word: grossness
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Dates: during 1980-1989
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Overall, Bradley estimates, 70% of taxpayers would pay either the same as or less than they do at present. Roughly 80% of individuals would pay the 14% rate, which includes anyone with a gross income up to $25,000 ($40,000 on joint returns). A family of four would pay no tax if it earned $11,200 or less. Taxpayers who would be hit hard would include those who now have large deductions or who stand to benefit substantially from current capital gains rates. People living in cities where sales taxes are high, such as New York, Washington and Seattle...
...sharp drop in the growth of the gross national product, from 8.6% during the first half of 1984 to 2.7% in the third quarter, has already raised fears that the economy may be sliding into a new downturn. Some experts are worried that the U.S. may be heading at least into a so-called growth recession, in which the G.N.P expands too slowly to keep unemployment from rising...
...July-September period, down from 7.1% in the previous quarter. Some of TIME'S economists expressed concern that the U.S. budget deficit, which will be at least $167 billion in 1985, might eventually drive up American interest rates and cause a recession. Narongchai noted that the combined gross national product of the Association (of South East Asian Nations (ASEAN), which includes Singapore, the Philippines, Indonesia, Malaysia, Thailand and Brunei, is only $200 billion. Said he: "All we produce in a year would barely be enough to pay for the misbehavior of the U.S. Government...
...ethnic groups. Wealthy businessmen of Chinese descent are nervous about the government's long-range plans to keep giving the native Malays a bigger role in the economy. Moreover, the government intends to curb its spending because of a persistent budget deficit that now totals 12% of the gross national product. Partly for that reason, growth may slip next year...
Secy of State Michael J. Connolly yesterday took control of ballot counting in the second round of the Somerville-Medford State Senate race, where both candidates are crying foul at what they called gross irregularities in Tuesday's balloting...