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...Jack the price back up. After oil prices are restored to their free-market level, the U.S. could painlessly slap a punitive tax on the consumption of oil and use the revenue to pay for conservation measures, alternative energy research and mass transit systems. Even if OPEC remains sound, an additional petroleum tax is not a bad idea, so long as it is accompanied by some sort of a rebate plan for the poor to counteract the regressive nature of such a tax. Already, American consumers pay absurdly low gasoline prices by global standards. Taxing gasoline heavily makes good economic...

Author: NO WRITER ATTRIBUTED | Title: Brace for the Storm | 9/26/1990 | See Source »

...securities prices. John Weigel, a financial consultant in Costa Mesa, Calif., called Milken "merely a financial extortionist on a Capone-esque scale that demands punishment on a similar scale." Concurred Miami attorney J.B. Spence: "It will be incredibly disheartening to the American public if the sentence is a mere slap on the wrist...

Author: /time Magazine | Title: Dear Judge: Go Easy on Michael Milken | 9/24/1990 | See Source »

...essence the play is a debate about the independence of art from the artist. Through use of a tape-recorder, the narrator and the director exchange insults. "YER MAN" refuses to perform large sections of the play out of spite, Nash threatens to slap him with hemorrhoids. The narrator, a seasoned artistic creation, joins the union of characters who meet surreptitiously in the recesses of the writer's mind to plot his overthrow. He laments the creation of new, politically native characters who flood the job market...

Author: By E.k. Anagnostopoulos, | Title: Blarney or Brilliance? | 9/21/1990 | See Source »

...movie censors slap an X rating on the discreetly erotic Henry & June, presaging a battle royal in the industry. -- Streep and MacLaine snipe and shine in Postcards from the Edge...

Author: /time Magazine | Title: Time Magazine Contents Page: Sep.17, 1990 | 9/17/1990 | See Source »

...even if $21 oil, as opposed to $10 oil, today would save us from $50 oil in a few years, why pay that extra $11 to oil producers? Why not buy the oil for $10, slap on an $11 tax and pocket the difference ourselves? That would raise about $40 billion a year -- just about enough to cancel the budget summit. (Last month's crisis. Remember?) A tax on imports alone would raise half that, allowing domestic producers to keep the difference. Yet the policy of two Republican administrations -- read their lips -- has been that it is better...

Author: /time Magazine | Title: The Gulf: Why Are We in Saudi Arabia? | 9/3/1990 | See Source »

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