Word: surtax
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Most of the ads have focused on an issue King will likely hammer away at over the next seven months: taxes. The messages doggedly blame Dukakis for a 7.5 percent rise in income taxes during his administration, labelling it "the Dukakis surtax...
...contrast, Dukakis, a former Kennedy School of Government lecturer, has spent only $15,000 in recent weeks for radio ads, mostly responding to King's tax attacks. For example: "Nineteen-seventy-nine--no objection to the surtax by Ed King. Nineteen-eighty-still no objection. Nineteen-eighty-one--King still thinks the surtax is just fine. Those years all have one thing in common. They're not election years...
...innovative companies, including Du Pont, A T & T and General Motors, have reduced their energy use relative to their output by 17% to 30% since the Arab oil embargo of 1973; yet many more firms have gone on giddily wasting energy. Consider the beneficial effects of a 20% surtax on the commercial use of electricity: skyscrapers that are lit up all night long and advertising signs that glisten at 4 a.m. would be turned...
Encourage Energy Conservation. Place a 20% surtax on the commercial use of electricity-and watch those all-night lights that make skyscrapers glisten like Christmas trees blink out at 7 p.m. Use at least part of the revenues to increase tax credits for the purchase of insulation and the building of various energy-saving projects. This, in turn, would stimulate capital investment...
...sick and the elderly--would bear the burden of a shrinking federal budget. With interest-group politics at its zenith, the weak and disorganized would, as usual, lose out. According to a Prentice-Hall estimate, for example, the recently passed changes in corporate taxation (from a normal and surtax basis to a graduated tax), will reduce those taxes by about five billion dollars--enough to pay for Carter's job cuts more than five times over...