Word: brackets
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Dates: during 2000-2009
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...couple of middle-class goodies--doubling the existing $500-per-child tax credit and reducing the marriage penalty--but since the thrust of his plan is an across-the-board cut, the wealthy folks who pay the bulk of the taxes would enjoy the greatest gains (the top tax bracket would drop from 39.6% to 33%). Bush would also repeal the estate tax, which in addition to providing needed relief to family farmers and small-business owners would deliver a windfall to the very rich. Result: a small number of affluent people would get almost half of the benefit from...
...Donnie McFadden, 30, a steakhouse chef, heavy-metal music fan and newly minted golf nut from Hobbs, N.M. His fashion sense is decidedly more WWF than PGA: tank top and shorts, shaved head, piercings and a sun tattoo across one forearm. "Golf shouldn't be about age or tax bracket," he barks. Laughs Michael Caruso, editor of Rupert Murdoch's new Gen-X magazine Maximum Golf (which claims a circulation of 300,000): "There's something to be said for anything that explodes the old form. Whether these things will ever catch on, I'm doubtful. When was the last...
...than they would if they were single--seems to make as much sense as a tax on baseball or apple pie. Here's how the penalty works: If a man and woman, each making $60,000, fall in love and marry, they will be pushed into a higher tax bracket. The $120,000 couple will pay a higher rate than the two singles would have. It seems unfair. But that doesn't mean anything is going to be done about it anytime soon...
Consider someone in the 28% tax bracket before and after retirement, saving $10,000 a year the five years before retiring. The money earns 10% annually. She withdraws equal amounts over 25 years and exhausts the account. Here's what her last five years' worth of contributions would net on an after-tax basis: $157,400 from a 401(k) with an average match; $121,000 from a 401(k) with no match; $102,300 from a taxable stock fund, and just $93,087 from a low-cost variable annuity. The 401(k) with a match is a clear winner...
...raised and spent less than $3 million - had a visibility problem. He was the devil New Jerseyans knew, and they told him where to go. In defeat, Florio called his vanquisher "a threat to democracy," but will still support Corzine against a Republican closer to Florio's own tax bracket, Bob Franks. Hardly the makings of a crusade...