Word: taxingly
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Dates: during 1990-1999
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...sprawl (and thus creating more of it), people are groping for ways to fight it. Last November there were no fewer than 240 antisprawl ballot initiatives around the country. Most of them passed. Some stripped local authorities of the power to approve new subdivisions without voter assent. Others okayed tax money to buy open land before the developers get it. In the largest of those, New Jersey Governor Christine Todd Whitman successfully pushed a referendum to use sales-tax money to buy half the state's undeveloped land--a million acres. "Americans are finally realizing that once you lose land...
...center cities. For decades, federal highway subsidies have paid for the roads to those far-flung malls and tract houses. Then there are local zoning rules that require large building lots, ensuring more sprawl. Many localities fiercely resist denser housing because it brings in more people but less property-tax revenue. Zoning rules commonly forbid any mix of homes and shops, which worsens traffic by guaranteeing that you burn a quart of gas to find a quart of milk. Even more important, localities routinely agree to extend roads, sewer lines and other utilities to new suburban developments built far from...
Most consumers, of course, think the current oil glut is just great, akin to a tax cut. American motorists are filling their tanks for under $1 per gal., less than the price of bottled water. America's annual oil bill dropped roughly $40 billion last year, and that money has shifted to other parts of the booming economy. The result is lower inflation and higher growth, with savings that show up on everything from home- heating bills to airline fuel and utility charges. Says Cynthia Latta, principal U.S. economist at Standard & Poors/DRI: "Higher oil prices will be widely felt across...
...first half of 1999, according to the American Petroleum Institute. Almost 140,000 domestic oil wells have been abandoned in little over a year, principally in Texas, Oklahoma, Colorado and Louisiana, forcing U.S. daily production down by 360,000 bbl. a day. In Alaska, which depends on tax revenues from oil, the state is forecasting a $1 billion budget gap, equal to about half the money it needs to pay for the day-to-day running of government...
CLAIM THAT KID Wouldn't you know it--even when the IRS tries to do something right, something goes wrong. The agency is offering a new, $400-per-child tax credit this year, but thanks to its notoriously complicated paperwork, thousands of eligible taxpayers are failing to take advantage of it. (If you earn more than $75,000, or $110,000 for a joint return, you don't qualify for the full break.) The friendly IRS folks highlighted the problem last week. People check the right box on the 1040 form (column 4 of line 6c), but many forget...