Word: slashings
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...sure, in the just decreased income tax rates, but in excise (sales) taxes and some levies on business. House Republicans want no part of tax increases and are uncertain how far to push on additional budget cuts. Democrats and some moderate Republicans are even more reluctant to slash spending further...
...topics, conservative economics. Wanniski (or was that Lehrman?), asked if it was possible for the federal government to cut taxes without losing money, and Laffer answered affirmatively. Taking out a pen and drawing some lines on a napkin, Laffer explained that federal revenues would actually increase with a large slash in taxes. With more incentive for people to work harder, changing expectations would being massive increases in productive investment, investment currently chased away by the stranglehold excessive taxation and regulation have on the economy...
...director of the Office of Management and Budget was to convince an incredulous public and Congress that the numbers would add up even if it didn't look that way. His responsibility clear from the outset, he had to subdue all apprehension that the president's policies to slash taxes, reduce social spending, while increasing military spending, might not lead to either a balanced budget or to a healthy economy...
...also give passersby an incentive to pick up the discarded containers. And, as the economists would say, the resulting cleanliness represents an externality--a cost or benefit to society not reflected in the market price. By charging a nickel or dime deposit on bottles and cans, the state would slash pollution. And judging from the experiences of those states which already have bottle laws, Massachusetts could expect reduced energy costs and increased employment...
...though, in the way of short-run remedies. Until Harvard can replace the Indoor Athletic Building or buy out Lesley College and build a new House in either's place--don't hold your breath--only the tiniest reductions in crowding will be possible. The University simply can't slash the size of entering classes, and its tuition intake, to decongest the Houses...