Word: stocking
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Dates: during 2000-2000
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...Canadians to think about the direction of their society at every election. It is a chance for us to pretend we all hate politics and then happily engage in arduous and arcane political debates about the country's identity and values. It is a time when the society takes stock of itself and looks forward to its collective political future...
...Harvard's history shows that this isn't a good idea. Harvard currently owns $16 million worth of combined stock in Kohl's and Target department stores, both of which sell clothing that is produced in notorious sweatshops. Last June, an attempt to organize for an eight-cents-per-item raise was brutally crushed by management in a factory producing clothes for Kohl's and Target, which fired hundreds of workers to teach them a lesson, according to the National Labor Committee. Harvard's sizable holdings give it the power to influence their labor policies, and yet Harvard has taken...
IMPACT: Depends on the stock market. The $1 trillion price tag means the program may go bankrupt 10 years earlier; to cover the cost, Bush will have to cut benefits. If the market continues its historical rate of return of 7% a year (or even if it gains a more modest 5% a year), such cuts would be painless because the private-account nest egg for most future beneficiaries would more than equal the benefits they would receive under the current system. But there's no benefit floor to protect losers...
...than anyone in years, but he's the first Republican in a decade who doesn't want to blow up the Education Department and padlock the I.R.S. He wants to spend a trillion dollars of the surplus to let people invest part of their Social Security taxes in the stock market, yet he promises not to cut benefits, although there would be no spare trillion lying around to fund them. He blasts Gore for proposing more new spending than at any time since the Great Society--except that he is doing the same...
...IMPACT: Depends on the stock market. The $1 trillion price tag means the program may go bankrupt 10 years earlier; to cover the cost, Bush will have to cut benefits. If the market continues its historical rate of return of 7 percent a year (or even if it gains a more modest 5 percent a year), such cuts would be painless because the private-account nest egg for most future beneficiaries would more than equal the benefits they would receive under the current system. But there's no benefit floor to protect losers...