Word: michaell
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Dates: during 1970-1979
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...bring medical costs under control and, in the long run, to fight inflation. But his program would cost HEW a staggering $30 billion a year in addition to the current $43 billion. Although he was backed by White House domestic advisers, Califano was opposed by Treasury Secretary W. Michael Blumenthal, OMB Director James Mclntyre and Charles Schultze, Chairman of the Council of Economic Advisers. They argued for a smaller program, one that would not cost more than $15 billion to $27 billion. Whatever the President decides, Congress is distinctly cool to the idea of adding to the already inflationary budget...
...order to promote more investment that would help everybody, Steiger and his allies argue, taxes must be cut for the people who have money to put to work. Michael K. Evans, president of Chase Econometrics, figures that if Steiger's amendment passes, stock prices would jump 40% in two years. One reason: investors would pull money out of bank savings, municipal bonds and mattresses to pursue capital gains in the stock market. As prices rose, Evans continues, companies would be able to finance a huge expansion of plant and equipment spending by selling new stock. The payoff: a speedup...
Administration officials assert that these glowing predictions rest on unprovable assumptions. Treasury Secretary W. Michael Blumenthal claims that the Steiger amendment would cost the Government $2.2 billion in revenue a year. He and other critics insist that there are more effective ways to stimulate investment: reducing the tax on corporate profits, increasing the tax credit that companies get on spending for new plant and equipment, and easing the tax on dividends...
Unfortunately, there seems to be little chance that these small steps will lead to any sustained effort by the rich nations to help the poor. Says U.S. Treasury Secretary W. Michael Blumenthal: "In view of our domestic problems, no substantial increase in assistance seems feasible at present." Many Western statesmen contend that the LDCs lack the infrastructure (roads, ports, dams, railways), political organization and expertise to use much more aid than they are now getting. Says West German Economics Minister Count Otto Lambsdorff: "I do not believe that a kind of Marshall Plan for the Third World-which today would...
DAMIEN- OMEN II Directed by Don Taylor Screenplay by Stanley Mann and Michael Hodges...