Word: spurs
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Pilbeam's appointment may also spur the move to bring ethnic studies to Harvard...
...that he claims will increase the efficiency of the economy and lead to higher growth without increasing the tax burden on the middle class. Sadly, the facts do not support such optimistic conclusions. In reality, Forbes' flat tax would either substantially increase the budget deficit and thereby fail to spur economic growth or increase the tax burden on most Americans. Yet Forbes has consistently failed to point out these facts to the American people, a failure that we must not excuse...
...percent on all income earned above $36,000. At the same time, his proposal would eliminate most deductions, like the home mortgage and charitable deduction, and exempt from all taxation unearned income derived from savings and investment. These changes, Forbes claims, would greatly simplify the tax code and spur economic growth through supply-side forces. This growth, moreover, would ensure that the federal budget deficit would not increase since the additional revenue derived from a larger economy would more than compensate for the loss in revenue that would result from a flat tax of only 17 percent...
...reality the consequences of Forbes' flat tax do not quite conform to his supply-side rhetoric. Admittedly the flat tax would spur economic growth. By reducing the income tax rate to 17 percent and eliminating the progressive nature of the tax, Forbes' proposal would increase the returns to labor and thereby increase the incentives to work. In other words, the average person would keep more of any additional earned income than he would previously and, as a result, would supply more labor. At the same time, the elimination of all taxes on investment income would encourage people to save...
Optimistic that the Federal Reserve Board will soon cut interest rates to spur a sluggish economy, investors pushed the Dow Jones industrial average further into record territory Monday. The Dow rose 33.23 to end the day at 5,304.98. The New York Stock Exchange composite index gained 1.36 to finish at 334.20. On the Big Board, advancers led decliners 1,322 to 969, with 793 unchanged. The technology-heavy Nasdaq composite index rose 1.37 to close at 1,042.33. The Standard & Poor's 500 stocks gained 2.59 to 624.21. The American Stock Exchange market value index gained 2.42 to close...