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...billion (see following story). "To those who say we must raise taxes, I say wait," the President declared. He did couple his less-than-clarion call with a pledge to "go forward with a historic reform" that would "simplify the entire tax code." But the Treasury will not recommend such an overhaul to him until December, a month after the election. For now, he is pro posing small loophole-closing changes that would add a mere $7.9 billion to revenues next year. Reagan promptly muddied the waters further by calling his own deficit forecasts "unacceptable" and inviting congressional leaders, including...
Nonetheless, the search for a site is proceeding. In 1982 Congress passed the Nuclear Waste Policy Act, which charged the Department of Energy with setting up not one but two nuclear waste dumps. DOE must recommend three sites to the President by the beginning of 1985, and by law he must select one of those by early 1987. Government geologists have narrowed their choices to nine locations in six states: Washington, Nevada, Utah, Texas, Mississippi and Louisiana. Waste-producing nuclear power companies, which pay a levy of 1 mill per kilowatt-hour of generated electricity, contribute some $40 million...
Some peace overtures were also made in the merger wars last week. The board of soft-drink producer Royal Crown Cos. reversed itself and agreed to recommend that stockholders accept a $40-a-share bid by Florida-based Investor Victor Posner unless a better offer comes along. Posner, an aggressive and frequently feared accumulator of big blocks of corporate stock, controls more than 26% of Royal Crown's shares. Separately, a Castle & Cooke-led group dropped its efforts to swallow Dr Pepper, another beverage company, which is planning to sell out to Forstmann Little & Co., a private investment firm...
...Super Bowl, gains in perspective represent the toughest yardage of all. Lining up in a prevent defense for 18 years, perspective has been conceding huge slabs of ground to outlandishness. During the early days of Roman numerals, President Nixon was content to recommend flanker-reverse plays. Now President Reagan appears on a split screen to express his nuclear reaction to a 191-yd. performance by Raiders Running Back Marcus Allen. Because of the Super Bowl, the stock market in New York goes down, some bookies in Las Vegas go broke and a water main in Salt Lake City goes blooey...
...course that it itself is enough to recommend the play for its sheer amusement. Keep the spicy jokes, but take it easy on the out-of-place social commentary, and Innaurato can still give you the ingredients for a delightful, if not necessarily through provoking, foray into cultural comedy...