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...Neill and other liberal Democrats said that putting the Republicans on the spot with Kemp-Roth might be better than talking compromise. But Rostenkowski was well aware of the President's popularity and the possibility that some conservative Democrats might break party ranks. He and Majority Leader Jim Wright of Texas felt there was little to be gained by a bitter congressional struggle over Kemp-Roth and that even a victory might come back to haunt them in 1982, when voters decide how to assess credit and blame for the economic situation. The stakes were high, and each side...

Author: /time Magazine | Title: A Less Than Perfect 10-10-10 | 6/1/1981 | See Source »

...Dole and said: "You and Danny ought to get together." Conable, too, has dreamed of a Dole-Rostenkowski tax bill to resolve the heated issue in a bipartisan manner. Said he to Rostenkowski: "The ball is in your court." Rostenkowski smiled and said: "I have to talk to Jim Wright." Dole picked up the $20 tab. Next time, he said, it would be the Democratic chairman's turn to play host...

Author: /time Magazine | Title: A Less Than Perfect 10-10-10 | 6/1/1981 | See Source »

Rostenkowski was also pleased, both by the expressions of loyalty from his party conservatives and by the negotiating points they relayed. He met Thursday morning with Secretary Regan to begin the complex task of discussing details. Meanwhile, Majority Leader Wright had lunch with Presidential Counsellor Edwin Meese at the White House and also talked to Senate Majority Leader Howard Baker and Republican Paul Laxalt of Nevada...

Author: /time Magazine | Title: A Less Than Perfect 10-10-10 | 6/1/1981 | See Source »

...benefit farmers, faster depreciation write-offs for business, reduction of the maximum tax on unearned income from 70% to 50%, and an increased exclusion for dividend and interest income. The Republicans agreed to alter the personal income tax cuts to give greater relief to middle-income Americans. Explained Wright: "The President, in order to protect his own image, has to have some kind of multiyear approach. We're going to have to yield on that. But we're going to insist on more help for the middle class. The Administration is going to have to yield some...

Author: /time Magazine | Title: A Less Than Perfect 10-10-10 | 6/1/1981 | See Source »

...space," exulted veteran Astronaut Deke Slayton, boss of orbital flight-test crews, referring to the sturdy Douglas aircraft that opened new routes for commercial aviation in the mid-1930s. Columbia's maiden space voyage brought to mind the first flight of Orville and Wilbur Wright at Kitty Hawk, Lindbergh's lone-eagle crossing of the Atlantic, even the completion of the first transcontinental railroad in 1869, which would turn a land of remote frontiers into a nation. Princeton's prophet of space colonization, Physicist Gerard O'Neill, saw the flight as a first step toward establishing...

Author: /time Magazine | Title: Touchdown, Columbia! | 4/27/1981 | See Source »

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