Word: reductionsâ
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...real loss in Toyako was the chance to fully enlist big developing nations like China and India in the fight against climate change. In the weeks leading up to the summit, these countries indicated that they would be amenable to broad, long-term emissions reductions???provided that rich nations agreed to their own short-term cuts. The U.S. (along with Canada and Australia) nixed the idea, and so the developing nations conspicuously did not agree to the G-8's 2050 target...
...been greatly intensified by the fight over the tax-reform bill (see THE NATION). It started out with some sensible and overdue reforms, but many were gutted by irresponsible actions in the Senate. The 1969 bill that the Senate passed last week is loaded with so many tax reductions???as well as a costly 15% increase in social security benefits?that the President has threatened to veto it. "I intend to use all the powers of the presidency to stop the rise in the cost of living," said Nixon at a press conference shortly before the Senate acted...
...particularly called for tax reductions???a step that Keynes had advocated as early as 1933. The Kennedy Administration stimulated capital investment by giving businessmen a 7% tax kickback on their purchases of new equipment and by liberalizing depreciation allowances. Kennedy also campaigned for an overall reduction in the oppressive income-tax rates in order to increase further both investment and personal consumption. That idea, he remarked, was "straight Keynes and Heller...
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