Word: taxed
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Dates: during 1980-1989
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...Dukakis FY '90 budget is contingent upon legislative approval of a two-year $735 million tax increase requested by the administration. Many legislators have called for further spending cuts rather than a tax hike...
...than was spent this year--and he has agreed to fully fund programs for aid to the homeless as legislated by Congress. In an effort to improve America's economic "competitiveness," the plan would also target more research money to the National Science Foundation and make permanent the investment tax credit...
...fact, Bush has the equation wrong. The United States clearly must finance the investments in productivity and human resources that the President seeks-it simply lacks the will to do so. Adhering to his "read my lips" campaign pledge, Bush adamantly refuses to consider a tax increase or even a value-added tax on consumption, or to tax costly, non-means based entitlement programs like Social Security for the wealthy. He also refuses to consider putting a lid on popular tax breaks for the middle-class, such as mortgage-interest deductions...
Bush's only major proposal for bringing in new revenue, cutting in half the tax rate on capital gains, is simply a rerun of the more disastrous provisions of the 1981 Reagan tax cut, which failed to promote the surge in savings and investment that supply-siders claimed it would...
Basing a deficit-reduction plan on the tried-and-failed notion that tax breaks for the wealthy, not specifically targeted for research and development, will spark renewed economic transactions and thereby bring in new revenue to the government seems, at best, dubious economic policy...