Word: slashe
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...President was elated. "Two to one?" he asked incredulously at a White House staff meeting last week. "Really? That's great!" His aides had just brought him the results of the first poll of national sentiment since he disclosed his dramatic plan to slash federal spending and taxes. Actually, the Washington Post-ABC News poll found that the margin of public approval for his economic recovery program was by more than 3 to 1; 2 to 1 was the ratio by which Americans expect Reagan's shrinking of Government to bring inflation down quickly. That particular optimism...
...Taxes. The President would like to slash all income tax rates by 10% in each of the next three years, beginning July 1. Individual rates that now range from 14% to 70% (that top applies only to "unearned" income, such as interest, dividends and rents) would drop to a range of 10% to 50% after July 1, 1984. Assuming average deductions, the income tax on a family of four earning $20,000 would drop from $2,013 this year to $1,435 in 1984; the tax on a family earning $50,000 would fall from...
Over and over, too, people dubious about aspects of the President's plan took to heart Reagan's challenge to come up with a better one. New York City Mayor Edward Koch asserted that the proposals to slash mass transit aid and the food stamp program and eliminate the CETA program to hire the unemployed for public-service jobs "are wrong and must not be implemented." Koch added, however: "I agree that there has to be a reduction in spending. He has thrown down the challenge; it's very reasonable. If we don't like...
Oddly, Congress seems in a mood to slash spending deeper, and faster, than taxes. While that attitude might seem to defy conventional political wisdom, there is strong reason for it. Public-opinion polls have consistently shown popular majorities in favor of lower spending. Reagan's impressive victory last November convinced nearly all legislators, Democratic as well as Republican, that the polls are reading the public mood correctly. Says Democratic Senate Whip Alan Cranston of California: "The attitude among Democrats here is that we can't be in the position of preventing him from trying what he was elected...
...what he calls his greatest achievement: being the first member of his family to go to college. Industrious and frugal, Andrews was impressed by Reagan's attack on federal profligacy and voted for him last fall. Now, however, Reagan has threatened Andrews' dream by proposing to slash $800 million from the student loan and aid programs that are his lifeline as a freshman at Bates, a small (enrollment: 1,450) liberal arts college in Lewiston, Me. Andrews' summer savings and the $35 a week he earns as a lifeguard at the college make little dent...