Word: timber
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...rates. But there is a second, equally important feature. Tax rates should be the same on alternative forms of economic activity. If plumbers are taxed more than electricians, there will be fewer plumbers and more electricians than the free market would dictate. If a tax break goes to timber but not to steel, investment flows out of the steel industry and into the timber industry. In either case, the Government is overriding the free market and dictating the shape of the economy just as surely as if it did so directly. Except that doing so directly is called "socialism...
Such conditions persist despite Native Americans' vast reservation resources, including large land, mineral and timber holdings as well as 10 percent of the United States' oil reserves, he said...
...that would once have been considered unworthy of presidential attention. Since Japanese furniture makers are eager for tropical hardwoods, officials in western Brazil hoped that Tokyo would finance the paving of a 500-mile road that would link the Amazon to a Peruvian highway, allowing lumberers to truck their timber directly to Pacific ports. But the plan, Deputy National Security Adviser Robert Gates cautioned the President, would subject the western Amazon to more of the slash-and-burn land clearing that has already devastated much of the rain forest's eastern regions. The torching releases into the air tons...
...Charlotte, N.C., found their businesses blown away, their houses flattened, their jobs gone. Losses were running as high as $3 billion just in South Carolina, where 70,000 people remained homeless and 224,000 were out of work. The state's top industry, tourism, may take years to recover. Timber, its third-ranking income source, took a $1 billion blow, as more than a third of South Carolina's forests fell to Hugo's winds. It may be 18 months before the 18,000 miles of blocked roads are cleared...
...nearly solid bloc of Republicans--only Doug Bereuter (R-Neb.) defected--was joined by 64 Democrats, chiefly from timber and farm areas in the 239-190 vote to redeem Bush's campaign promise to tax investment income at a lower rate than wages...