Word: taxing
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Dates: during 1980-1989
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Anyone not running for office can come up with a shopping list of budget cuts and new revenue sources (yes, yes, taxes) to close the deficit gap. The leadership challenge is getting at least 51% of Americans to agree to any particular list. A recent Gallup Poll for the Times Mirror Co. offered 20 possible deficit-reduction measures. Only three got majority support. Interestingly, all three were tax hikes: on people earning over $80,000, on alcohol and on tobacco...
More important than the particulars are the principles that should guide the revenue hunt. First is that the deficit gap cannot be closed painlessly by George Bush's proposed "flexible freeze" or by Michael Dukakis' proposed war on tax cheats. In either case, the numbers just...
...campaign issue, the nation's huge budget deficit, the questioners were unable to pin the candidates down on just how they can reduce it and still acquire the military weapons and social programs they support. Dukakis repeated his unpersuasive solution of tougher tax enforcement. He stressed welfare reforms that would put more poor people to work as a way to cut spending and simultaneously bring in more tax revenue. Bush argued that "we've got to get the Democrats' Congress under control" to hold down spending...
...argument led naturally to a clash over tax policy. Bush stoutly defended his proposal to cut the capital-gains tax rate from its current 28% to 15%. Dukakis jumped on this notion as a tax cut "for the wealthiest 1%" of Americans. But a reference by Dukakis to the need to bring interest rates down gave Bush an easy shot at the 21.5% that existed at one point under President Carter...
...Child Care) bill. Backed by Michael Dukakis but opposed by the Reagan Administration, the measure would establish a $2.5 billion program of child-care grants to the states and would set federal standards for day-care facilities. Vice President George Bush has proposed an alternative approach: a $1,000 tax credit to help families pay for , child care. Under this plan, families earning too little to qualify for the tax refund would get a check for up to $1,000 per preschool child from the Government...