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Newspaper
Syracuse Herald Journal
Location
Syracuse, New York, United States of America
Date
Aug 17, 1992
Page
3
The proposal calls for reducing the capital gains rate from 26 percent to 8 15 percent for assets held three years or more. It doubles the child tax exemption to 2800 and offers up to 5000 in first time home buyer credits plus penalty free IRA withdrawals for homes and education. It also introduces a 15 percent investment tax allowance.
A survey of 50 prominent economists gives George Bush limited optimism for economic improvement by September third quarter growth seen between 1.7 and 3.7 percent, averaging 2.6 percent inflation-adjusted. Historical trends show spring primary success does not guarantee victory. Bush has some breathing room.
The piece profiles two local figures, Gary Snow of Wheatstone Corp and DeWittman, linking their careers to Reagan era deregulation. Snow credits deregulation for radio growth, notes ongoing plant expansion, and laments US policy hindrances to manufacturing and exports while warning of cutthroat competition.
Mike Petrella, 40, retrains in electrical technology after a career at Smith Corona that ended with the last U.S. factory moving to Mexico. He blames Bush administration policies for job losses and cites unemployment trends while pursuing an associate degree with government aid. He argues for a strong economic plan to win votes.
George W. Bush addressed about 100 New York delegates and 100 alternates at the Hyatt Regency Hotel urging unity and a strong fight in the state. Senate Minority Leader Bob Dole urged expanding Republican representation in Congress as part of the campaign effort.
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