Word: taxingly
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Dates: during 1990-1999
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...American government does or will take money from your paycheck in essentially two different ways. One way is through an income tax which is used for general expenditures like the military, education and highways. The other is through the Federal Insurance Contribution Act (FICA) tax, which is used to fund Social Security and Medicare. Employers and employees each pay 7.65 percent of an employee's earnings in FICA taxes. In other words, if you make $10,000 a year, your employer pays $765 in FICA taxes and you pay $765 in FICA taxes. FICA taxes are 7.65 percent for everyone...
...Fans of the current system wish to solve this imbalance by "tinkering." For example, some combination of benefit cuts, modest tax increases, a change in the investment portfolio of the trust fund and an increase in the retirement age could shore the system up for the next 75 years. Proponents ask why we should radically reform a program that has been so effective for so long. Opponents say that "tinkering" will not be a permanent fix and that there may be a cheaper way to get greater benefits...
Under Kotlikoff's proposed system, Social Security's Old Age Insurance payroll tax would be eliminated and replaced with contributions to PSS accounts...
Clinton's agenda focuses on improving American education at all levels, from elementary school to college and beyond. He has already expanded Pell Grants and made the interest on student loans tax-deductible to make college more affordable and accessible. One of his proposals would reduce class sizes in the first to third grades by hiring more teachers and providing a school construction tax cut. He has also proposed a G.I. Bill for Workers, consolidating the multitude of federal job training programs into one skills grant to give unemployed workers the flexibility to choose the most suitable training program...
...health and child care policy, Clinton proposed an increase in the tobacco tax, an extension of the Family and Medical Leave Act to cover more workers and a Consumer Bill of Rights to empower patients and to end abusive practices by health insurance companies and HMOs. To ensure that Americans do not have to choose between their jobs and their children, the President proposed child care tax credits for working families and for businesses that provide child care for their employees. These proposals are crucial in helping ensure that welfare reform does not throw millions of our nation's poorest...