November 15, 1989 |
Supporters of a capital-gains tax cut prepared to abandon their push this year for the controversial tax break after falling nine votes short yesterday of preventing a Senate filibuster against the measure. Senate Democrats who oppose a capital-gains cut had threatened to filibuster any GOP attempt to consider the proposal. The vote yesterday was part of an agreement that permitted Republicans to bring the bill to the floor under the condition that it would be dropped for the year if supporters could not win 60 votes.
September 24, 1989
House Democrats have chosen a lousy strategy for trying to defeat a White House-backed cut in the tax on stock profits and other capital gains. Fearing that they can't simply defeat this gimmicky, unaffordable tax cut this week, Democratic leaders are offering an alternative tax break that may be more popular: letting everyone have individual retirement accounts (IRAs) again. With next year's deficit likely to surpass the legal ceiling of $110 billion, it is absurd to fight over how best to lighten the tax burden.
November 15, 1991 |
The economy stinks and it's not getting any better. President Bush, I'm sorry to say, is to blame. Two years ago it was possible for those of us who had supported him in 1988 to blame the Democratic Congress for inviting stagnation by opposing the president's tax proposals. A year ago, as the recession became reality, blame still could be divided between the White House and Congress as they cut a deal to raise taxes. Today the whole mess can only be laid squarely in the Oval Office.
September 5, 2001 |
Bush won't rule out capital-gains tax cut President Bush opened the door yesterday to a cut in the capital-gains tax, a longtime Republican prescription for reviving an ailing economy, but said he first wanted to see the effects of last spring's income-tax cut. Bracing for an autumn of wrestling with Democrats over the sluggish economy and diminished budget surplus, Bush told reporters that before reducing the capital-gains tax, he...
August 18, 1990 |
What will the U.S. troop deployment in the Middle East cost and how will it affect an already out-of-control federal budget? Preliminary estimates are that we'll pay $14.6 million for each day that 50,000 troops are deployed, or more than $440 million a month for these troops. Early on, President Bush warned that we'd pay whatever it cost. But when President Bush says "we," he doesn't mean all taxpayers. Even as he talks of cutting programs and raising taxes, he had the temerity, at his press conference Tuesday, to propose a capital-gains-tax cut that is likely to reduce tax revenues by $11 billion - enough to keep 50,000 troops in Saudi Arabia for more than a year and still have change.
April 16, 2012 |
Here we go again. At the beginning of his presidency, Barack Obama argued that the country's spiraling debt was largely the result of exploding health-care costs. That was true. He then said the cure for these exploding costs would be his health-care reform. That was not true. It was obvious at the time that it could never be true. If government gives health insurance to 33 million uninsured, that costs. Costs a lot. There's no free lunch. Now we know. The Congressional Budget Office's latest estimate is that Obamacare will add $1.76 trillion in federal expenditures through 2022.
October 24, 1996 |
Republican U.S. Senate candidate Richard A. Zimmer took a campaign swing through South Jersey yesterday, touting his support for tax cuts and business deregulation. Zimmer first visited U.S. Vision, the largest optical manufacturing company on the East Coast, in Glendora. Later in the day, he greeted employees at Atlantic Electric, in Pleasantville. "We need to promote policies that favor business growth and investment, like tax reduction and deregulation," Zimmer, a Hunterdon County congressman, said during an hourlong stop at U.S. Vision.
September 30, 1990 |
Congressional and White House negotiators yesterday dropped capital-gains tax cuts and higher income taxes on the rich, the two most contentious issues blocking a budget agreement needed to stave off a chaotic slashing of government services. With those obstacles out of the way, negotiators were working late into the night in hopes of reaching agreement before tomorrow's deadline, thereby avoiding massive spending cuts throughout the government mandated by the Gramm-Rudman deficit-reduction law. If a pact is reached, President Bush was expected to return from New York, where he was attending a U.N. summit on children, to join in announcing the package today.
October 9, 1989 |
When summer leaves turn crimson and the morning air blows crisp, it can mean only one thing for millions of working Americans: Year-end tax-planning time is upon us once more. With three months left in 1989, experts say it's not too soon to begin planning for the 1990 filing season. For those who have not thought about taxes since April 15, the first order of business is to get organized. That means familiarizing yourself with the latest tax-law changes plus changes in your own financial picture.
December 8, 1991 |
As his presidency came under increasing criticism in recent weeks, President Bush had a ready response: Wait until Congress leaves town, he said, and he could take his message to the American people. He could use his bully pulpit to pressure Congress to take the action he says is necessary to boost the economy, such as cutting the capital gains tax. But in speeches around the country last week, the President instead sounded decidedly defensive as he sought to counter accusations that he is insensitive to Americans hit hard by economic problems.