Word: taxingly
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Dates: during 1970-1979
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...soothingly familiar leader of his party with a simple message: jobs and trust. His Tory opponent is Margaret Thatcher, 53, determined to become not only Britain's first woman Prime Minister but a rigorously conservative one as well. Her message to the voters was equally plain and concise: tax cuts and freedom...
...approved draft of the manifesto proposes a cut in income tax but a new "wealth tax" on the affluent, increased spending on health and social services, a proportional reduction in defense outlays, and an end to the power of the House of Lords, which is overwhelmingly Tory, to delay legislation...
Unruffled as ever, Thatcher introduced the Conservative manifesto at her first open press conference for both the British and foreign press. She presented and defended a document that promised income tax cuts at all levels, a curb on secondary picketing, secret ballots in union elections, cuts in government spending except for defense and the police, a stop to further nationalization, and an end to government interference in wage negotiations in private industry. The Tories also called for a change in British policy toward Rhodesia, which would bring a Thatcher government into confrontation with the Carter Administration. Although...
...sharpest attacks are against the package's two most important parts. They are to phase out domestic oil price controls beginning in June, and to bring in a "windfall profits" tax. Scrapping controls will allow U.S. oil prices, which average about $9.45 per bbl., to rise during the next two years to the cartel-set world level, which already stands at a minimum of $14.55 and is certain to climb still higher. The oil companies would get an extra $6.5 billion in earnings annually from decontrol, but about half of the money would be taxed away. The Government would...
...decontrol will just make matters worse. Says Massachusetts Senator Edward Kennedy of Carter's program: "It's bad economic policy, it's bad energy policy, and it's bad for the country." Legislators from Texas, Oklahoma and other petrobelt states argue that Carter's tax is unnecessary and that oil companies would spend the profits of decontrol on the search for more petroleum anyway...