Word: deduction
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Dates: during 1960-1969
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...training programs would be greatly expanded, more day-care centers would be established so that working mothers would have a place to leave their children. Not least, welfare recipients would be allowed to keep some of the money they earn. Under present rules, most welfare agencies are required to deduct every penny earned from welfare payments, in effect imposing a confiscatory 100% tax that discourages any attempt at getting...
Churches could not exist in America today if they relied solely on their members. Only one out of every five persons attends church even irregularly. If church donators were not given deduction benefits on their income tax, if church property were not subsidized by a free tax ride that punishes all real estate owners, if church organizations paid full postage, if church business paid corporate-profit income tax, if church schools were built with church money only, if church "head start" programs did not get federal handouts, if radio and television did not give time free and then deduct...
...pristine store, where the whir of a Bull-GE TAS-84 computer has replaced the clang of pushcarts and the monotony of canned music, is a going concern. His profit margin is 15%, his stock turns over every two weeks, and, says he, "the 2% other supermarkets have to deduct in theft losses ev ery month pays my rental fee for the computer...
...that certainly applies to Teamster Boss Jimmy Hoffa, 53, who has had some extra large lawyers' bills to pay in appealing his 1964 convictions for conspiracy and fraud and for attempting to suborn a jury. The IRS agreed in a Detroit U.S. tax court that Hoffa could deduct $81,880 in fees from his tax debt of $106,247 for six previous years, and settle for a mere...
Four years ago, when he was Under Secretary of the Treasury, Henry H. Fowler argued forcefully for congressional approval of the investment tax credit; by this means, businessmen could deduct from their corporate tax return 7% of the cost of new equipment. Since its introduction, the credit has meant $8 billion in savings for business, and it has helped spur capital spending from $37.3 billion in 1962 to an estimated $60.9 billion this year...