Word: deductionism
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We are pleased to note that the Clinton budget does well by American laborer-citizens. One of the president's proposals is for a tax deduction of up to $10,000 for post-secondary school education and training. This tax break couldn't be more beneficial to average Americans who...
* Create a $10,000 tax deduction for all post-secondary education;
WASHINGTON, D.C.: President Clinton sent Congress a $1.69 trillion 1998 budget package Thursday containing much that even Republicans will find to their liking. The White House maintains that it is setting a course that will produce not only a balanced budget, but a modest surplus by the year 2002. Taking...
Clinton has also proposed a $10,000 annual income tax deduction for tuition payments. Families earning less than $100,000 per year would be eligible unless they already receive the Hope Scholarship.
That deduction, which was removed from the law with the 1986 omnibus tax reform legislation, would cost significantly less than the President's proposals and would assist graduate students who will not benefit from the President's plans.