Word: taxing
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Dates: during 1980-1989
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Dukakis' populist appeal is an elite-seeking missile homing in on the pocketbook. He suggested that Bush's proposed capital-gains tax break would help the privileged few "hire a second butler." He derided it by using the example of a taxpayer who reported capital gains of $515,132 between 1985 and 1987. Such a taxpayer would save $22,000 a year. His name: "George Herbert Walker Bush...
...buyout binge is causing concern among U.S. financial regulators. Responding in writing to questions from the Senate Banking Committee last week, Federal Reserve chairman Alan Greenspan said the Fed had cautioned banks about extending loans for leveraged buyouts. He suggested that Congress take a closer look at tax provisions that encourage such buyouts. Greenspan's views sent a tremor through the stock market, and share prices of companies involved in takeovers took a tumble, as many investors turned fearful that the buyout boom could suddenly go bust...
...letter to the Senators last week, Fed chairman Greenspan noted that current tax law encourages corporate borrowing. Companies, for example, can write off the interest on their loans. Greenspan suggested that Congress consider whether the tax incentives that are helping fuel the trend are still prudent. If Congress takes Greenspan's advice, the heyday of big-time buyouts could come...
Washington insiders have long assumed that a campaign is an impolitic forum for an honest discussion of the deficit. In this cynical view, voters cannot be trusted with the unpleasant truth: a tax increase is inevitable...
That logic still holds if Dukakis is elected. His last-resort taxes might consist of new levies on securities transfers or higher rates for upper-income taxpayers. But in well-placed Republican circles, there are whispers that Bush has in Reaganesque fashion been convinced by his own rhetoric about "no new taxes." As a top Administration official puts it, "Suddenly, I see the concrete setting. Bush has begun to believe and accept that the economic expansion was driven by the tax cuts of 1981 and the tax-reform bill...