Word: saving
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Dates: during 1970-1979
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Ignoring these defects, Long and Ullman argue that the VAT could break America's inflationary spiral by providing the necessary incentives to boost productivity. Americans save a smaller portion of their incomes than citizens of any other western nation. With savings, so low, banks and business have limited funds to invest in expanding capital to spur productivity. The solution to this problem--for Senator Long and Representative Ullman--lies in a tax on consumption. They even propose that this consumption tax--the VAT--partially replaces the corporate profits tax to free still more money for investment. Evidently, Long and Ullman...
LONG AND ULLMAN correctly calculate that an attack on our falling rate of productivity strikes at the core of America's economic woes. Yet the VAT leads this attack in a painfully misdirected way. There's no reason why the incentives for savings must come from a regressive consumption tax. As long as federal regulations limit banks' interest rates on savings accounts to 5.75% while inflation runs well over double that rate, it will make no sense for consumers to save large parts of their incomes. If the government wants Americans to save money, it must eliminate these interest ceilings...
...straightforward domestic comedy with Broadway trappings--as, with the exception of a couple of entrances, the Loeb production does--then the problem evaporates. This approach loses some of the subtlety of the play-about-actors, but then, a George Kaufman comedy hardly demands subtle treatment. Modest ambitions save the Loeb's Royal Family from becoming a grandiose statement about "the theatre" and salvage an evening's entertainment out of the alluring labyrinth of mirrors...
That viewpoint, however, overlooks the fact that Iran is quite savagely picking on the U.S. In an effort to save Americans taken hostage in clear violation of international law and precedent, the Administration surely has a right to demand that Iranian students...
...Lake Erie is a dead lake. Save the rest of the Great Lakes." So went the environmentalists' plaint during the 1960s. Lake Erie was not, in fact, quite dead, but it was suffering from a variety of serious disorders, including a seemingly uncheckable algae growth that, like a fast-spreading cancer, was choking off the other forms of life. Though the remaining four of North America's great chain of lakes-Superior, Michigan, Huron and Ontario-were less diseased, they too showed symptoms of serious, man-made illness...