Word: boom
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Business prospects for many hotels, resorts, convention centers and travel agencies are equally unsettled for the short term. Commercial aviation has spurred the growth of American trade-show and convention business, and made possible a 20-year boom in domestic and foreign vacation resorts, ranging from dude ranches to health spas and ski slopes...
...mortgage rates reached a then phenomenal 6.5% after hovering for years at around 5%. Even in today's market, experts are not about to dismiss the U.S. housing industry. High interest rates have made the market stagnant, but they have also created pent-up demand among the baby-boom generation, who are now in their 30s. New housing is currently being built at less than half the 2 million-a-year rate needed just to keep up with those potential buyers. Robert Sheehan, director of economic research for the National Association of Home Builders, believes that the 1980s could...
...current boom in venture capital is in sharp contrast with the situation in the early 1970s. At that time, a plunging stock market, the failure of scores of high-technology companies and federal tax increases on capital gains almost dried up the venture capital market. The money faucets again began to open up three years later with the passage of a new tax bill that lowered the rate on capital gains from a maximum of 49% to 28%. The amount of fresh capital immediately jumped from $39 million in 1977 to $570 million...
When the postwar baby-boom generation retires, there will be more than 50 retirees for every 100 people at work. Today there are fewer than 35. This 50% increase in the relative number of retirees will require a 50% increase in the payroll tax rate unless the benefit rules are changed. The rapid future growth of benefits will eventually require payroll tax rates of more than 20% and perhaps even higher than 30%. Adding such a payroll tax to federal and state income taxes would mean that most American families would face tax rates of more than...
...cause a sudden change in anyone's lifestyle. But by 1985 it would permit a $15 billion reduction in the taxes required to pay for Social Security benefits. By 1992 payroll tax rates would be one-fifth lower than under current law. The rising number of baby-boom retirees could then receive their benefits without substantial further increases in the tax rates...