Word: taxingly
(lookup in dictionary)
(lookup stats)
Dates: during 1990-1999
Sort By: most recent first
(reverse)
...starters, many economists doubt that huge tax cuts make sense at a time when the U.S. economy is running flat out after nearly nine years of expansion. Slashing taxes now "seems a little odd," says Cynthia Latta, principal U.S. economist for Standard & Poor's DRI. "Its support comes from the assumption that if [the surplus] is not handed back to taxpayers, the government will just use it for more programs." Latta's fellow critics include Federal Reserve Chairman Alan Greenspan, who warned last week that "the timing is not right" for the House measure, which calls for a 10% across...
...champions of tax cuts argue that the surplus rightly belongs to citizens whose Form 1040s gave rise to it and who now deserve their money back--to do with as they see fit. As a Wall Street Journal editorial-page headline framed the issue last week, WHOSE SURPLUS IS IT, ANYWAY? Indeed, Americans now pay an amount in taxes equal to 20.7% of gdp, a post-World War II high that is up from just over 18% 10 years ago. Nor are many economists bummed by the fact that most of the benefits that would flow from the G.O.P. cuts...
Clinton wants tax relief too, but his more modest plan focuses on the lower end of the scale. The White House wants to funnel tax breaks into new Universal Savings Accounts, which would serve as government-subsidized iras for low-income earners. The heart of the Administration plan is devoted to paying off the national debt and ensuring the solvency of Social Security and Medicare. Clinton would set aside a third of the projected surplus--or $374 billion--for replenishing Medicare funds that could otherwise expire by 2015. And he would put the interest savings that result from debt reduction...
...mirage. Yet even if the estimates are a bit optimistic, the nation will still be faced with the problem of having too much money. "If we use the surplus wisely, we could cement our wealth for another couple of decades," says Sinai, who is worried that big tax cuts now would be premature. "The task for our society," he adds, "is to make sure we don't blow...
DENNIS HASTERT Speaker avoids Newtering--quells mutiny, passes $792 billion tax cut. Must have been '80s night...