Word: benefitting
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Dates: during 1980-1989
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...exit polling and early network projections, I consider my right to vote one of the great privileges of this democracy. The country does not profit from those who must either be begged for their vote or sheltered from early projections of the outcome in order to give us the benefit of their wisdom...
...rates, no tax hike for anyone and no loss to the Treasury? It all appears to be a mirage. And it is. Even though Congress is not in session, lobbyists are already calling on staff experts and members of key tax-writing committees to press arguments against eliminating special-benefit tax breaks. Business interests are gearing up for an assault against reform on the logical assumption that they might have to pay more in taxes. Indeed, the realization is dawning that millions of Americans will have to pay more under any reform plan that could be passed by Congress. Even...
...which includes anyone with a gross income up to $25,000 ($40,000 on joint returns). A family of four would pay no tax if it earned $11,200 or less. Taxpayers who would be hit hard would include those who now have large deductions or who stand to benefit substantially from current capital gains rates. People living in cities where sales taxes are high, such as New York, Washington and Seattle, would be pinched. The changes in corporate taxes would benefit service industries, while hindering those that require expensive plant facilities to compete effectively...
Kemp-Kasten. A single rate of 25% would be in effect for individuals, but this would be modified for most workers by exempting 20% of all income from wages (up to a maximum of $39,600). The exemption of $ 1,000 for each dependent would be doubled, which would benefit large families. There would be no deductions for any state or local taxes except on property, but other common deductions would be retained. The maximum tax on capital gains would rise gradually over ten years to 25%. The corporate tax rate, as in Bradley-Gephardt, would be 30%. Accelerated depreciation...
Individuals benefit even more under the various tax credits, deductions and exclusions that were created to promote social and economic goals, such as home ownership and income after retirement. In all, these losses to the Treasury will amount to some $270 billion this year. The biggest single break is the deduction from income of company contributions to retirement plans, which gives workers a temporarily tax-free annual benefit of $53 billion. Retirement income is taxed when workers begin drawing it, but by then they are normally in a lower tax bracket. Home mortgage deductions amount to $25 billion annually, state...