Word: surpluses
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Democrats, who decry the Republican plan as "a waste of a golden opportunity," are leaning in favor of using the projected surplus to bulk up Social Security and Medicare. Only when those programs are secured, and the debt is paid down, they say, can Congress offer such a considerable cut. They also say the GOP plan unfairly favors the well-off, and claim that their plan will direct money to low- and middle-income taxpayers. These are old arguments, says Baumohl, and there won't be an easy resolution, at least not before the November election. "The Republicans see themselves...
...election year - and that means, among other things, that it's time for promises of miraculous, sweeping tax cuts that benefit all Americans and somehow hurt no one. That's the unlikely formula surplus-happy Democrats and Republicans are selling on Capitol Hill, and so far the Republicans have triumphed on at least one front. Wednesday, the House of Representatives voted to adopt the Republican-sponsored Marriage Tax Elimination Act, which would cost the government $182 billion and return an average of $1,400 to the pockets of married couples each year. President Clinton has vowed to veto...
...other sources yesterday confirmed the university's interest in a proposal to keep 'the Harvard plan' nonprofit through a money-raising deal involving major Boston teaching hospitals, the data processing company Perot Systems, and other investors... Investors are being asked to lend money in exchange for IOUs called 'surplus notes,' or surplus bonds...
...plan--as described by the Globe--calls for investors to exchange funding for "surplus notes," which would benefit investors through high interest rates. Investors would be assuming a significant amount of risk--and would not be able to sell their bonds. The plan would have to include the sale of 14 Pilgrim-owned buildings, currently leased to the medical group Harvard Vanguard...
...G.O.P. primary. Bush's top strategist in the state, Warren Tompkins, says McCain is "taking positions to the left in order to find a constituency, play a numbers game." He calls McCain's tax policy "more Clintonesque than Reaganesque." And of McCain's plan to use most of the surplus to reduce the national debt and shore up Social Security, he adds, "I don't believe our party, especially in South Carolina, is ready for a candidate whose plan is endorsed by Clinton-Gore." In fact, the TIME/CNN poll suggests that a majority of South Carolina Republicans--74%--agree with...