Word: ballyhoo
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Dates: during 1990-1999
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...increases, spending cuts or both. Moreover, many states have been hiking taxes to make up for declining federal funds for clean water, job training, low-income housing and sewage treatment. Increased state and local taxes, as well as a larger Social Security bite, explain why, for all the ballyhoo over the Reagan-era tax cuts, Americans today pay roughly 22% of their income in taxes, just as they...