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...come right out and endorse a minimum tax at this stage of the budget process, congressional leaders are not + disavowing such a strategy either. "It's a live option," says Senate Majority Leader Bob Dole, whose own aspirations for the White House are tied closely to his effort to slash the deficit...

Author: /time Magazine | Title: Tilting At Tax Reform | 6/3/1985 | See Source »

...says, is the almost universal practice of paying employees fixed wages, often set by contract. When sales slow down during a recession, companies are reluctant to cut prices because they find it difficult to reduce wages and often in fact must increase them. Instead, managers frequently choose to slash production and lay off employees. Thus unemployment rises even as wages go up, and inflation persists...

Author: /time Magazine | Title: Search for a Miracle Cure | 5/20/1985 | See Source »

...other choice than to undertake countermoves including, of course, the strengthening and upgrading of nuclear arms." He also went public with an arms-reduction offer that had been privately broached by Soviet negotiators --and rejected by American ones--in Geneva. He said the Soviet Union would be ready to slash strategic arsenals by 25% or more if the U.S. would cease its Star Wars program. "We would have no objections to making even deeper mutual cuts," he declared. "All this is possible if the arms race does not begin in space...

Author: /time Magazine | Title: A Dismal Round of Arms Talks | 5/6/1985 | See Source »

...Foreman. He even shed himself of a grand place in Houston for an $81,000 house in a suburb called Humble. He preaches on the weekends and Wednesday nights, mows his yard, trims his hedges and spends two days a week on the ranch, threading his truck between slash pines and pin oaks to haul feed to his cows and horses. Animals are his passion--animals and sleeping and eating. "I think sleeping was my problem in school," he allowed. "If school had started at around 4 o'clock in the afternoon, I'd be a college graduate today." Foreman...

Author: /time Magazine | Title: In Texas: Spreading the Word | 4/22/1985 | See Source »

...task was not easy. But with a slash here and a snip there, negotiators from Capitol Hill worked out with the White House a compromise budget plan that would eventually cut projected deficits by more than half. President Reagan agreed to scale back on two sacred programs: defense and Social Security. Yet there was one catch amid the hype about what Donald Regan, the White House chief of staff, hailed as "the most ambitious budget-reduction plan in postwar history." The celebrated agreement was not with the Democratic House, which will have to approve it. It was with leaders...

Author: /time Magazine | Title: Agreement Among Allies | 4/15/1985 | See Source »

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