Word: taxed
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Dates: during 2000-2009
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...McCain's advisers, like former Treasury Secretary Nicholas Brady, have helped him identify a tax proposal that speaks to the underlying cause of the meltdown. Compared with most other developed countries, the U.S. has relatively high taxes on corporations that produce goods and services and relatively low taxes on consumption. "For example," McCain observed, "Ireland now has an 11% business tax. The United States of America has a 35% business tax. Where are businesses going...
...McCain's solution is pretty basic: Cut the corporate tax. The trouble is that his corporate tax cut isn't part of a larger overhaul of the tax code that would reward savings and investment while curbing deficit spending - whether by individuals, private institutions or the government. The cut is only one among many in a budget that is wildly out of balance. How would President McCain convince people that they can't have a bigger flat-screen than they can afford while he's running a government that promises more services than it has money for? Neither McCain...
...have been cautious in adapting their messages to the new reality because no one is sure what the new reality actually means. But they may be reluctant to show their hands in an economy that can turn from forgiving to punishing overnight. On balance, McCain would be a lower-tax, lower-spending President who would agree to stiff regulation when necessary. Obama would be quicker to spend, quicker to regulate but also probably faster to react to economic weakness at home. The choice might be as much about reflexes as about ideology...
...crash - and this one seems a doozy - usually announces the arrival of hard times. The real economic woe is yet to come, as credit dries up and the economy slips into recession. The power of the next President seems destined to be severely constrained by huge debts and diminishing tax receipts - unless he finds some creative ways out of the morass ... and if he doesn't, his presidency will be a failure. One plausible path to success is proposed by the moderate Democratic scholars William Galston and Elaine Kamarck in a new Third Way paper appropriately titled, "Change...
...Democrat, Oregon) and Bob Bennett (Republican, Utah) have made such a proposal, the Healthy Americans Act, which has gained the support of 15 Senate co-sponsors, evenly divided between Democrats and Republicans. It would have employers "cash out" their health-care benefits to employees and then would provide a tax deduction of up to $15,210, according to income and family status, for individuals to buy into a government-supervised group of private insurance plans. According to the Congressional Budget Office, the Wyden proposal would eventually be revenue-neutral (that is, it wouldn't cost any additional money). According...