Word: taxed
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...pact through the global economic crisis could unleash a political crisis. "Against a backdrop of recession or economic stagnation, painful spending cuts would be extremely difficult for any government to sell to voters," he says, questioning whether such reductions would even succeed. "Drastic cuts in spending or [raising] tax risks deepening the recession, which would in itself prevent an improvement in the fiscal position...
Driving in Massachusetts is on a road to becoming more of a luxury. Yesterday, the Massachusetts Turnpike Authority voted to increase toll prices in a staggered fashion—by a factor that depends on whether a gas-tax increase will also be approved. In an attempt to rid the state’s transportation system of its debt, and to bolster the budget by half a billion dollars, Governor Deval L. Patrick ’78 has suggested raising the gasoline tax by 19 cents in the state—nearly double its current level. His proposal, which would...
...leaders of the European Union's largest economies are dead serious about cleaning up global finance markets. On Sunday, officials from eight E.U. countries wound up an economic summit in Berlin calling for tougher regulations on international financial markets-including secretive hedge funds and the tax havens they often rely on to do business. The question is: will the U.S., the biggest financial player in the world, ever agree to the binding international regulation the Europeans seek...
...Obama's impending legislation, however, the stimulus was the most likely to draw bipartisan support: members from both sides of the aisle and voters alike agreed that the economy desperately needed a boost, and the package included the largest tax cut in U.S. history. After Capitol Hill this week deals with the final component of Obama's economic rescue plan - a housing program that, while largely achieved through Executive Order, will feature a bankruptcy provision long opposed by the GOP - Obama's focus will turn to implementing his campaign agenda, which is by definition more ideological...
...believe that President Obama and the Democrats will work with us because the stakes are just that high." He also emphasizes the large areas of agreement between Dems and Republicans on upcoming legislation, such as the need for an austere budget (though Cantor opposes letting President Bush's tax cuts to the wealthiest Americans lapse, as Obama intends); the expansion of employer-provided health-care insurance rather than single-payer government health care; and a commitment to renewable energies while keeping the door open to increased oil and gas drilling. But agreeing on the broad goals of some of these...