Word: taxed
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...line" issues crucial to the U.K.'s sense of self. Under the new constitution, E.U. member states will still retain a national veto in foreign policy, taxation and social affairs. (That means France and Germany, to cite a hypothetical example, couldn't demand a uniform rate of income tax over Britain's or Poland's wishes.) Once a general foreign policy initiative is decided unanimously, however, details of how to implement it are subject to qualified majority vote, so there may yet be room for mischief making. But with 25 states inside the tent, it will be harder than ever...
...assailed Blair for watering down the pact. "The greatest paradox of the European Union," said Le Figaro, "is that its most skeptical member calls the shots." French President Jacques Chirac helped Blair's reputation back home by denouncing his intransigence. "The ambitions for the constitution are reduced - especially on tax and social security - by the clear position of one country ? the United Kingdom," he complained. Blair's spokesman regretted Chirac's remarks and pointedly alluded to Britain's allies among the new eastern members - like Poland and the Czech Republic - who are now diluting France and Germany's historic domination...
...philosophical offshoot of Reagan's impulse to deregulate was the 1986 tax-reform bill. Although the primary goal was to lower tax rates a lot, to encourage work and investment, the trick was to pay for it by eliminating most of the exemptions and special tax breaks and shelters, all the ways the government tried to micromanage the economy and control behavior. Reagan and the reformers believed in letting individuals make decisions based on their own view of economic self-interest, not the tax code's. By the end of Reagan's term, the ground had shifted to the point...
...making his preoccupations into enduring themes of the national conversation that it may not matter that his record didn't always match his rhetoric. He insisted, for instance, that a balanced budget was one of his priorities. But by the time Reagan left office, a combination of lower tax revenues and sharply higher spending for defense had sent the deficit through the roof. But as Dick Cheney is reported to have said, "Reagan proved that deficits don't matter." In his recent memoir, former Bush Treasury Secretary Paul O'Neill quotes the Vice President using those words to shut down...
...government. He made nonmilitary federal spending seem like an indulgence. Because of his two electoral landslides, a badly humbled Democratic Party had to think, really think, about reinventing government, trying free-market approaches to problems like public housing and health care that they once saw chiefly as targets for tax dollars. Four years after Reagan left office, the enduring popularity of his ideas obliged Clinton to back away from his 1993 stimulus spending package in favor of a budget more agreeable to the bond markets. When Clinton's proposed health plan started looking like a return to Big Government, voters...