Word: panetta
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...holding down interest rates to soften the bite of higher taxes. But the first barrage of phone calls to Congress was highly negative, and there is something in the plan to offend almost every interest employing a lobbyist with an in at a particular congressional committee. Budget Director Leon Panetta told the Washington Post that chances of congressional passage are only fifty-fifty. (See cover stories, beginning on page...
...national sales tax as if it were a not too distant possibility. "I did not mean to float a trial balloon," Clinton said Friday, as the issue threatened to engulf his campaign to push his first round of tax proposals. Meanwhile in Washington, Clinton's Budget Director, Leon Panetta, brought up the likelihood of new taxes on guns, alcohol and tobacco. "It's a bit too early to say," Panetta said, but then he went ahead and said...
...MANY TAXES, TOO FEW CUTS During his confirmation hearings, Budget Director Leon Panetta promised $2 in spending cuts for every $1 in new taxes. Over the next few weeks, the Administration retreated to a "one for one" balance, but the plan falls far short of even that goal. If his new spending proposals are factored in, Clinton's plan includes $3 in net new taxes for every $2 in spending cuts...
...Wednesday night. - Underlying the philosophical questions was the political reality: that if there were such a thing as a perfect plan, it would be a waste of time to propose it if it cannot pass the Congress. A Democratic majority in no way assures success: even Budget Director Panetta gave the plan only a fifty-fifty chance of passing in something like its original form. That meant the opening pitch on Wednesday night was easy compared with the sales job that lies ahead...
BALANCE Budget Director Leon Panetta once said he would shoot for a ratio of $2 in spending cuts to every $1 in tax increases. Clinton's lieutenants have been unable to find that much spending to cut, though, and are now striving just for "balance." Moreover, they may be able to get a 1-to-1 ratio only by playing semantic games: labeling as "spending cuts" what are really tax increases on heavily subsidized Social Security recipients, people who take home-mortgage deductions on their income taxes and others. Social Security taxes, for example, are counted against spending on pensions...