Word: deductionism
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Dates: during 1990-1999
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Many parents would rather stay at home with their children than put them in day care. But this is difficult, as the current income tax deduction of $2000 per dependent would have to be raised to nearly $6000 to equal its real dollar value of the 1950s. Reform is needed...
Why can't the U.S. be more like Japan? And vice versa? Those were the questions underlying much of the discussion at trade talks between the two nations in Washington last week. In some cases the medicine prescribed was far too bitter to swallow. If Japanese negotiators had their way...
Either plan -- a broad capital-gains cut or liberalized IRA deduction -- would cost a fortune. (A bargain capital-gains tax rate would shake loose revenues at first as investors sold to take advantage of it but in the long run come back to bite us.) So it may be that...
In 1981, then-Senator Gary Hart proposed a bill to limit the tax deduction for business meals and entertainment by 30 percent and use the added revenue to restore Reagan's cuts in the school lunch program. Hart could only find two co-sponsors in the entire Senate.