Word: speech
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Dates: during 1980-1989
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Apple Computer has become the symbol of American entrepreneurs. In his tax speech last week, President Reagan alluded to its two founders, Steven Jobs and Stephen Wozniak, who started the firm in a garage and set out on a "golden future." The President may have spoken too soon. Wozniak left the company in a huff in February after a disagreement over policy, and last week Jobs lost his position as director of the division that produces the company's powerful and popular Macintosh computer. The move came as part of a major company reorganization. John Sculley, Apple's chief executive...
...profitable companies still pay no tax at all or very little. The Administration intends to make the rate 20% for both types of taxpayers, and to subject more kinds of income to the minimum tax. But though President Reagan made a major point of this proposal in his TV speech last week, the Treasury's numbers indicate that its application would still be sharply limited. Main reason: many tax breaks even under the new law would escape the minimum tax. The new minimum-tax rules are expected to raise a mere $1.1 billion of additional federal revenue...
...level, which he abhors. Moreover, since only one-third of U.S. tax returns are itemized, Reagan notes, the benefit is not even available to a majority of taxpayers. "But they are being forced to subsidize the high-tax policies of a handful of states," the President said in his speech Tuesday evening. "This is truly taxation without representation...
...Volcker has yet to convert some of his public enemies, like the followers of leftist Lyndon LaRouche. Several weeks ago, while Volcker was addressing a gathering in Seattle, one of his detractors released a sack of live rats in the auditorium, temporarily disrupting his speech...
Although he generally refrains from speaking out on fiscal matters, Volcker has called for deep cuts in the federal budget deficit, which may provide the topic for his speech today. (For an in-depth profile of Volcker, see page...