Word: taxing
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Dates: during 1980-1989
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...only black in Reagan's Cabinet, who has gone so unnoticed that he has earned the nickname "Silent Sam." Kemp would bring a more ambitious agenda to HUD. For years, he has been a strong advocate of Urban Enterprise Zones, in which the Federal Government would give investors tax breaks to encourage the economic revitalization of inner cities. He has also proposed selling public housing to its tenants...
...from their Reaganite predecessors months ago. How much good early appointments will do Bush is another question. The last transition team, Ronald Reagan's in 1980, hit the ground stumbling. Its selection of second- and third-level personnel was notoriously constipated. Yet Reagan managed to present historic budget and tax messages to Congress early in 1981. It was clearly more important to have ideas handy than people...
After all, the only ones that lose out when a leveraged buyout is closed are the government, since the loans taken out by companies are tax-deductable, the economy, since leveraged buyouts have caused the level of business debt to double to more than $1.8 trillion in the past five years, the company employees who are often either laid off or uprooted across the country by the restructuring process, and the consumers, who don't get new products at better prices, but the same products at higher prices because a hostilely-bought company has to use all available funds...
...them the budget and trade deficits. But he warns that "if the President chooses confrontation, we will confront him." Mitchell's strategy for the Democrats is to await Bush's lead on the budget, allowing him to take the heat if he is forced to renege on his no-tax pledge. George Bush is about to discover that although George Mitchell didn't make it playing round ball, he knows a thing or two about hard ball...
George Bush promised during the campaign that he would fight to keep the defense budget 2% above the rise of inflation, but he is unlikely to get that much without a tax increase. Even with such an improbable hike, Bush's numbers would fall more than $140 billion short of what the military wants over the next five years. The President-elect has yet to spell out which military programs he will put on hold. Bush's likely pick for Defense Secretary, former Texas Senator John Tower, would only add to the controversy. An unabashed hawk with strong ties...