Word: deductionism
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Dates: during 1990-1999
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Even as the Senate was slashing the social safety net, the House swept through a cluster of popular health care reforms. The Kennedy-Kassebaum bill, which passed by a 421-2 margin and is headed for a similar reception in the Senate today, ensures portability of coverage from job to...
The next time Hillary dropped in, McDougal asked her about it, and she told him that both she and Blair had been quite successful and that she was looking for some kind of tax shelter. Hillary pressed Jim to see how much in interest payments from Whitewater she could deduct...
McDougal might have added that you can't take a deduction for everything you do pay--only for payments of interest and legitimate business expenses. Yet, in a pattern that would continue, the Clintons deducted $10,131 on their 1978 tax returns, describing it as an itemized interest expense, to...
While the 1978 deduction might be characterized as a misunderstanding, the Clintons were even more aggressive in 1979. They made Whitewater payments totaling $12,490 that year and deducted all but $500 of it as itemized interest expenses described as "bank loans" and "Jim McDougal." Of their payments, $2,900...
* Providing American families with a tax deduction for the cost of college tuition.