Word: lugar
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Dates: during 1990-1999
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...Lugar, who is seeking the Republican nomination for president, delivered his remarks at an intimate breakfast attended by new Kennedy School Dean Joseph S. Nye and about 35 Harvard students and professors...
...Lugar said that stagnating wage levels are the most serious problem facing America. He said that inflation-adjusted family incomes are at the same level they were 20 years ago, and pointed out that real growth in national income has also declined significantly over the past several decades...
...order to help tackle the problem, Lugar proposed scrapping the federal income tax and replacing it with a national sales tax. Doing so would boost America's savings rate, leading to an increase in the capital stock that would promote economic growth, Lugar said...
...Indeed, Lugar cited one economist's estimate that a consumption tax would nearly triple the national savings rate to seven percent...
...Investments don't happen without savings," Lugar said. "It's sort of the old Econ 101 formula: savings equals investment...