Word: bracketeers
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Patricia Roberts, 32, a Federal Reserve Board researcher in Washington, decided that homeownership even before marriage was the best way to beat inflation. As a single person, her $24,000-per-year salary put her in a relatively high tax bracket, and she lacked the tax benefits of owning a house. The trouble was that she could not meet the steep mortgage payments required for homes in the expensive Virginia suburbs. Her friend Suzanne Reed, 30, who works for the House Republican Research Committee, was in a similar bind. "It finally dawned on us," says Roberts, "that we just couldn...
...cuts: "The hard part of the supply-side tax cut is dropping the top rate from 70 to 50%-the rest of it is a secondary matter. The original argument was that the top bracket was too high, and that's having the most devastating effect on the economy. [However] to make this palatable as a political matter, you had to bring down all the brackets. But, I mean, Kemp-Roth was always a Trojan horse to bring down the top rate. .. It's kind of hard to sell 'trickle-down,' so the supply-side formula...
These days, the paper appeals to a demographic bracket. Its readership has largely crossed the Charles, moved into townhouses on Beacon Hill or Bay Village or elsewhere in the Back Bay. They have good grooming habits, and politics is not such a big thing because, after all, this is a damn nice townhouse. There are still many points of common agreement--the New Right is outrageous (this week's paper includes two accounts of an anti-abortion conclave); capitalism has its excesses (a very good story about the seamy business at an aerosol factory that ended with three workers dead...
...money flowing into their All Savers accounts is coming from Citibank customers converting their high-yielding six-month accounts of $10,000 or more, which currently pay 13.7%, into All Savers accounts. There is no penalty for doing this, and depending on the customer's tax bracket, the return may be higher...
...Herring would probably not be majoring in aeronautical engineering at MIT. In fact, he might not be going to college at all. When Herring applied to schools four years ago--he is now a junior--he discovered that his family belonged to that nebulous economic group, the 'middle-income bracket.' He was ineligible for financial aid or loans, yet his parents could not afford $10,000 dollars a year for their son's education. ROTC seemed to be the ideal solution--in addition to paying for his tuition, it would buy him his textbooks, giving him $100 a month spending...