Word: wayes
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Dates: during 1970-1979
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...assembly is not pressuring the committees to vote a certain way, Joseph F. McDonough '81, assembly chairman, said yesterday. "Anybody that has [lobbied for continuing the boycott] has sort of done it as individuals," he said. "The assembly just voted to recommend the boycott," he added...
...love and be wise, is not given to man." Long seems to reply to Burke by suggesting that if politicians disguise their taxes, they can please the public, take its money and still get re-elected. With unfounded audacity, Senator Long claims that the VAT is the "least painful way of collecting money," over-looking the regressive nature of this tax. Long actually described the VAT as "somewhat like a hidden sales tax." By taxing consumption, the VAT insures that government will take larger chunks out of the earnings of lower and middle class citizens than out of the incomes...
LONG AND ULLMAN correctly calculate that an attack on our falling rate of productivity strikes at the core of America's economic woes. Yet the VAT leads this attack in a painfully misdirected way. There's no reason why the incentives for savings must come from a regressive consumption tax. As long as federal regulations limit banks' interest rates on savings accounts to 5.75% while inflation runs well over double that rate, it will make no sense for consumers to save large parts of their incomes. If the government wants Americans to save money, it must eliminate these interest ceilings...
...more equitable strategy for stimulating productivity lies in adjusting the progressive income tax to create incentives for savings. Instead of simply taxing income, the Federal government could tax income minus savings in a way that equalizes the tax burdens upon the rich and poor. With these incentives, Americans would certainly save more, banks and business would invest more, and ensuing gains in productivity would steadily combat inflation...
There's no way enough can be said about a penalty-killing act that, forced into action five times--twice with two men down--yields not a single goal. And this, against the vaunted Terrier power play...