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...challenges that in some ways are more difficult (and certainly more gnarled with complexities) than when Reagan launched his bold programs in 1981. The crisis-prone budget process has been burdened with an unpredictable new element that seems certain to create still more crises. The President's plan to reform and simplify the tax code was passed (just barely) by the House, which watered down the reforms, abandoned the simplicity, then tossed it to the Senate. Reagan's long-standing desire to speak directly to the Soviet people will be realized on New Year's Day, when he and Party...

Author: /time Magazine | Title: Into a Daunting New Year | 6/21/2005 | See Source »

...need to raise taxes will inevitably complicate attempts to reform them. The tax-reform measure approved by the House is aimed chiefly at making the tax code more equitable and would raise no more revenue than the current law. Some legislators of both parties would find tax reform more palatable if it lifted the Government's income, thus reducing the deficit without further program cuts. Says conservative Commentator Kevin Phillips: "You're not going to see people on the Hill go through this tax-reform thing for the sake of revenue neutrality...

Author: /time Magazine | Title: Into a Daunting New Year | 6/21/2005 | See Source »

Some White House officials speculate that the President might accept a low-visibility "revenue enhancement" if he were persuaded by his closest advisers that it would preserve his defense program, achieve historic tax reform and help reduce the deficit. "We would fight them like hell," says one White House official of any new tax proposals. "But we could end up compromising...

Author: /time Magazine | Title: Into a Daunting New Year | 6/21/2005 | See Source »

...disgusting that in our worsening deficit crisis we are still hearing only of proposals for revenue-neutral tax reforms. Worse yet, proponents of the current House Ways and Means tax-reform bill are selling it primarily on the basis of how much it will cut taxes. The appeal is to greed rather than to our nobler instincts of common sacrifice for the common good. Robert D. King Kennebunk, Me. Gander Crash...

Author: /time Magazine | Title: Letters: Jan. 13, 1986 | 6/21/2005 | See Source »

...campaign as the candidate of "new ideas," mostly related to the economy, and this time to convince voters that those ideas contain plenty of beef in the form of specifics. In speeches (delivered in 30 states last year alone), position papers, Senate bills and a forthcoming book about military reform, Hart is offering proposals on a variety of issues. Samples...

Author: /time Magazine | Title: Nation: In Front, but for How Long? | 6/21/2005 | See Source »

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