Word: offsets
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Dates: during 1980-1989
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...hideous snarl. By Treasury count, under the new plan, "more than 65 categories of preferential tax treatment would be eliminated or curtailed." Just describing what they are is no easy task. Another reason is that the plan is balanced on a knife edge to make it "revenue neutral." To offset the sweeping reductions in individual and corporate tax rates, Treasury planners had to come up with some complicated revenue-raising ideas. One particularly involved provision would tax businesses on sums they had deducted under current depreciation rules. It was added just days before the package was announced largely because...
...charge that government lies, conceals, misleads. Press skepticism has actually increased since the Reagan Administration developed into a high art form the symbolic rituals of optimism and a talent for minimizing embarrassing news. We now get government salesmanship by pageantry, which television feels compelled to present while trying to offset it by commentary. The result can hardly be called reality...
...with a spending increase of nearly 6% over inflation. Unless deep cuts could be made, annual deficits projected at well above $200 billion loomed over the rest of Reagan's term. The Senate Budget Committee, controlled by the Republicans, responded with a plan that included less drastic domestic cuts offset by , savings from holding the military to a "zero growth rate...
Though Reagan blithely disavowed his aides' warnings about political retaliation, the final vote bore the marks of tough party discipline. Only eight of the Senate's 53 Republicans voted against the MX measure. The G.O.P. defections were more than offset by ten Democratic votes for the MX, including that of Minority Leader Robert Byrd, a longtime MX supporter. Said Democrat Christopher Dodd: "The negotiations in Geneva are what put this over the top. I'll bet Reagan got ten votes on that basis alone...
Soviet agriculture is a continuing saga of failure. Last year's grain harvest was an estimated 170 million tons, down from 195 million in 1983 and well below the 1978 peak of 237 million. To offset agricultural shortages, the Soviet Union depends on imports. Moscow is expected to buy up to 52 million tons of grain, including at least 20 million from the U.S., in the period from July 1984 through June 1985, an increase of 52% over the previous year. Says Olin Robison, president of Middlebury College in Vermont and a Soviet expert: "A very sad fact about Soviet...