Word: tax-cutting
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...Bush's tax-cut program can be characterized as another gift to the wealthy and a boost to class warfare [NATION, Jan. 20], then I say bring it on! By no definition could I be considered wealthy, well-to-do, rolling in money or even affluent, yet I am 100% in support of the plan. Why? Because it's fair. It gives back to those who contribute to the system, and it recognizes those who plan and work for the future, as opposed to those who don't. JERRY SLASKE Wauwatosa...
With a budget deficit estimated to set a new record—to the tune of $300 billion—Bush remains stubbornly fixated on pleasing the wealthy. The President’s overly simplistic economic arguments called for a 10-year, $674 billion tax-cut plan that he believes will stimulate the economy. A central focus of his new tax cuts to bolster growth is the elimination of taxes on stock dividends paid to investors. But because stock owners are disproportionally wealthy, under this new proposal, the richest one percent of Americans would be granted more tax relief than...
...said au contraire, "we will climb the mountain at our own rhythm." Mer was rebuked by E.U. Commissioner Pedro Solbes, and by week's end, the French resistance seemed to be cracking. Mer vowed to use reserve funds to keep deficits down. But unless France reins in its tax-cut plans or its spending, the E.U. could eventually help it up the mountain with another push - in the form of a hefty fine...
When George W. Bush wanted to run a sniff test for his audacious tax-cut program, which includes eliminating the levy on corporate dividends, he dispatched his new economics chief, Stephen Friedman, to New York City to wave it under the noses of such bankers as UBS America chairman Donald Marron and brokerage legend Muriel Siebert. Friedman is a polished pinstriper, a former Goldman Sachs chairman with the kind of Street cred the Administration lacked before purging its economic team last month. In four meetings, Friedman did as much listening as talking, knowing enough not to insult his former brethren...
DEMOCRATS IN CONGRESS are gearing up to battle President Bush over his tax-cut plan, arguing that it will favor the rich. But they may be in for a fresh shock. Reports have circulated that Bush's plan, which he intends to announce this week, will include a 50% cut in the amount shareholders are taxed on company dividends. But senior officials tell TIME that Bush will go even further. To encourage investors to re-enter the stock market and foster corporate responsibility, he is set to propose that taxes on dividends be eliminated entirely...