Word: pump
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Dates: during 1970-1979
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There are alternatives. One that is appealing- because it attacks the main source of energy waste- is a big increase in the federal tax on gas at the pump, on the order of 20? per gal. or more. President Ford opposes a tax increase, and Congress has little enthusiasm for it. Another alternative is receiving increasingly serious attention in Washington: phased-in reductions in oil imports coupled with mandatory conservation measures and an allocation system that would spread the impact of reduced supplies. This in effect is a form of rationing without coupons...
...chance to work. Reduce corporate income taxes, encourage consumer saving rather than spending, concentrate on encouraging more capital investment so that we'll have the means to increase production greatly. This will provide both jobs and goods. You can't spend your way out by "priming the pump." You must produce your...
...view of Board Member Arthur Okun, Ford's proposal for a two part rebate on 1974 taxes is by itself inadequate. "The Administration's idea, I suppose, is that what the economy needs is a little pump priming or a quick charge. But there's evidence that it is a bigger problem than just getting the economy started." In addition to calling for a total rebate in May, Okun insists that "we need a stimulative net tax cut for 1975 and 1976 that would begin to show up in withholding in July, August or September." The permanent...
...only a few extra pounds or many, may bring an increase in blood pressure. It takes a mile of capillaries to nourish each extra pound of fatty tissue. With each extra pound, there is a corresponding increase in blood volume. This means that the heart must work harder to pump more blood through a more extensive circulatory system...
...uncontrolled oil from foreign sources or "new" domestic oil-production in excess of a 1972 base period that is allowed to sell at the world price. Through this system, the tariff would translate mainly into a nationwide rise in gas prices of 3? or 4? per gal. at the pump...