Word: would
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Dates: during 1980-1989
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...vote last Thursday was not even close. The decision came on a Democratic alternative to the capital-gains cut that would have made tax- deductible IRAs available to more people, balanced by a tax increase on earners of the highest incomes. That proposal lost, 239 to 190. Bush bagged 64 Democrats, while only one Republican, Douglas Bereuter of Nebraska, voted for the alternative...
What happened? To House Speaker Thomas Foley, the answer was simple: Americans love a tax cut -- any kind of tax cut -- and the legislators reflected that feeling. Democrats contended, correctly, that 80% of the benefits from the capital-gains slash would go to people making more than $100,000 a year, 60% to those with incomes over $200,000. No matter, says Foley. Tell an ordinary taxpayer that he will reap $10 from a measure that will save the likes of Donald Trump an average of $25,000 a year, and the taxpayer will reply, "Fine. Give...
There were other reasons too. Bush undoubtedly swung some votes by last- minute lobbying. Many Congressmen bought the Administration argument that a tax cut would spur business investment, creating more jobs and prosperity for everybody. In theory the lure of a lightly taxed payoff will tempt investors to put up money for risky ventures. Economists have long disputed whether that is true, but it remains an article of faith among conservatives...
...told reporters last week, "I supported the tax-reform law, but in last year's campaign there were one or two areas where I felt that we needed to use the tax system to achieve various ends." Democratic leaders too have lost the faith; their proposed expansion of IRAs would also violate the no-special-breaks principle. Consequently, Congress can expect a flood of demands from other taxpayers who will claim that their income deserves special treatment. Writing in the Washington Post, Senator Bradley gloomily predicted that "the llama farmers, along with all the other dealmakers and tax-shelter merchants...
Dula's nemesis has been the U.S. Government, which refuses to let American firms launch satellites on Soviet rockets. Washington insists that such a practice would violate laws against the transfer of advanced technology. But Dula is pressing the Administration for a license to place a U.S. communications satellite aboard a Soviet Proton rocket. His perseverance is understandable. The Soviets would probably charge more than $50 million for a launch; Dula's company, Space Commerce, would pocket half the profit...