Word: taxed
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Dates: during 1980-1989
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Bush and his advisers, not a few of whom hail from California, see a very different state: one peopled by wealthy retirees, Yuppie venture capitalists and tax-hating suburbanites, as well as socially conservative farmers and truck drivers. Their vision, like that of Dukakis, leaves out a good deal, but it probably describes more of what the state is all about. Which is why California's 47 electoral votes as of now are widely regarded as being Bush's to lose...
More substantively, says a Bush adviser, "the instinct for change is stronger in California than in any other state." Suburbanites may still be generally anti-tax, but their allegiance is being divided by other concerns. They are worried about haphazard commercial growth in residential neighborhoods, gridlocked traffic and parking shortages, air pollution, poor schools -- all problems that seem to call for the governmental solutions that Democrats traditionally favor and Republicans oppose...
...Takeshita handed out $6 billion for 42 Chinese development projects over the six-year period from 1990 through 1995, almost doubling his country's aid to the mainland regime. In return, the Chinese government awarded Japan an investment-protection agreement that gives Japanese investors the same tax status and other benefits enjoyed by Chinese companies...
...front-page box scores listing the number of buses on the road, the number in the shop and the percentage of late arrivals (as high as 50%). Virtually every day some routes got no buses at all. To untangle the mess, Houston voters in 1978 approved a special 1% tax on retail sales to help pay for a modern transit system. Since then the city has spent $790 million to upgrade service, adding 789 new buses, 20 park-and-ride lots, 750 sheltered bus stops and five new maintenance shops. Houston now boasts a highly efficient transit system that...
Some tinkering with tax policy could encourage more long-term research and development. The elimination of the investment credit in the 1986 tax reform discouraged many large manufacturers from investing in new plant and equipment. Capital spending in the U.S. stagnated in both 1986 and '87, though the Commerce Department expects it to increase nearly 11% this year...