Word: incometaxes
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...favors the Ariaspeace plan. DEFICIT: Would raise taxes onthe wealthy and cut defense spending. Suggestsforming an American investment bank that wouldborrow from private pension funds to financepublic programs. EDUCATION: Would combatilliteracy and improve standard of education byincreasing federal funding by $10 billion dollars.TAXES: Will keep the 38.5 percent incometax bracket and implement an oil import tax andexcise tax on luxury goods. Would severely limitdeductions for business meals and entertainment.TRADE: Favors the Gephardt amendment, butacknowleges that it would draw criticism fromabroad. Wants to improve international tradeunions to help workers in developing countries...
...abandoned most nuisance taxes in favor of income taxes, which grow along with the economy, and they could lower sales taxes by reducing the number of exempted goods, such as food and drugs. Economists reckon that with such changes the states last year could have increased their sales-and incometax revenues by $5 billion. Of course, the states and localities could always cut away some nonessential spending-but more and more things seem to be essential these days...
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