Word: brackets
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Dates: during 1960-1969
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There was remarkable agreement on one point: everyone, it seemed, would love a tax cut. But how big? Or how soon? Or what taxpaying bracket should receive the biggest benefits? Or, most important, should taxes be slashed even while the Kennedy Administration is requesting $98.8 billion for fiscal 1964-with a projected $11.9 billion deficit...
There sits Buddha, face unfathomable, hooded eyes of blue ice, nose stubborn and strong. Lines like deep parentheses bracket his thin lips; beneath them is a small chin, and beneath that is a big chin. Five-and-a-half feet high, close to 200 lbs. wide, he is swathed in a cautious dark suit from which peeps an embroidered breast-pocket handkerchief with a monogram: R.J.D...
...same time, the celling for professors' salaries will be raised $1000 to $21,000. However, there will be no automatic increases for professors in the top bracket, President Pusey said; each case will be decided individually. The minimum for full professors remains...
Another wide avenue of tax avoidance is the special tax treatment of capital gains-profits on sales of assets held for six months or more are taxed at half the normal income tax rate, up to a limit of 25%. It is greatly to the advantage of high bracket taxpayers to gather in money as capital gains rather than as fully taxable income, and figuring out ways of doing that is a principal preoccupation of high fee tax lawyers. Another heavily traveled road of avoidance is the use of taxexempt foundations to reduce tax liability. A businessman...
...might not examine one out of 100-one out of 1,000-of the 1040-A returns," he explains. "They are wage earners and take standard deduction, and we get income information from their employers. But we would examine nine out of ten returns in the $100,000 bracket, and we would really zero in on returns that claim travel and entertainment expense...