Word: bracket
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...Citizens for Tax Justice, a Washington public interest group, attacked the Wall Street Journal editorial. Two factors, they say, accounted for the shift in the tax burden, both of which had nothing to do with supply-side economics. First, inflation pushed many people into the $50,000-and-up bracket. Second, 1982 was a recession year, and unemployment reduced the earning power and taxes paid by low-and middle-income groups. Says Barry Bosworth, a senior fellow of the Brookings Institution in Washington: "If you looked at other recession years, you'd see the same phenomenon. It has little...
...Jersey, are pushing a less radical tax-simplification strategy. Their plan would set three rates: 14% on individual incomes up to $25,000; 26% on amounts ranging from $25,001 to $37,500; and 30% above that level. About 80% of taxpayers would be in the 14% bracket. The Bradley-Gephardt plan eliminates many loopholes, but keeps such popular tax breaks as deductions for mortgage interest and charitable donations...
...negotiations are, "extremely important because they set the foundation of the union," said Bracket...
...then allows claims for depreciation, tax credits and everything else associated with a $100,000 investment. Also deductible is the interest on the borrowed money. In the end, a $20,000 stake could result in write-offs of possibly $90,000. For a person in the 50% bracket, that means a tax saving...
Most donors who fall to make good fall into the $1500 to $10,000 gift bracket--the group that "is stretching to make a big gift and can't necessarily cover it if something goes wrong," Jordan says...