Word: brackets
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Dates: during 1980-1989
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...never married singles ages 20 to 24 increased from 36% to 56% among women and from 55% to 73% among men. During that period, single-person households increased by 8.5 million. According to the Census Bureau, the increasing number of unmarried people in the pivotal 30-to-34 age bracket "suggests that an increasing proportion of persons may never marry...
Lopped off the head of the men's bracket in the quarterfinals, John McEnroe seconded that. "More and more, I understand Bjorn Borg for walking away (at 25, four years ago)," he murmured, after Naturalized American Kevin Curren of South Africa overwhelmed him in three curt sets. "It's difficult not to be No. 1," McEnroe says. He felt "overpowered," not so much by Curren personally as by circumstances and Curren's modern racquet. Like everything ! else, there must be degrees of graphite. "He was hitting the ball harder than I was. I need something with a little more power...
...taxpayer, spouse and dependent would nearly double at the outset, to $2,000 from $1,040. In later years the exemptions would, as now, be "indexed" for inflation; that is, the exemption would rise each year by the same percentage that consumer prices go up. The so-called zero-bracket amount would be raised to $4,000 for couples filing joint returns, from $3,670 now. That is the amount of income, after personal exemptions, that is freed from tax. For people who do not itemize deductions, it is equivalent to the old standard deduction...
...combination of lower rates, a higher personal exemption and a higher zero-bracket amount would mean that nearly all individuals and families below or just above the poverty line would pay no federal income tax at all. In 1986, the poverty line for a family of four is expected to be $11,400. Under present law, if that family had one wage earner, it would pay tax on any income above $9,575. Under the Reagan plan, taxes would start only if its income exceeded $12,798. Another tax break would give a family with one working spouse the opportunity...
...while a deduction is only a reduction in taxable income. A credit of $1,000 reduces a family's tax bill by $1,000. A $1,000 deduction would lower taxes by $150, $250 or $350, depending on whether a family was in the 15%, 25% or 35% tax bracket. Barbara Kennelly, a Democratic Congresswoman from Connecticut, objected that though Reagan billed his reforms as "pro-family," the child-care, IRA and other provisions seemed tilted toward just one kind of family: the classic one in which only the husband works and the wife stays home and takes care...