Word: deductionism
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The tax code, notes the report, grants middle- and upper-class Americans more in housing subsidies than poor people get, at a cost of $41 billion last year -- 85% of which went to the most affluent taxpayers. But the report makes no proposal for changing the mortgage-interest tax deduction...
Officials deny they are avoiding a tough political choice. "We talk about it, but we don't say, 'Let's take on the middle class' because it will never happen," says an Administration official. "The middle-class mortgage deduction is a major economic generator. And if you slowed the economy...
Is Clinton ducking mortgage deduction as a source of revenues?
"That's a tenth [of a point deduction],"newly-minted skating expert Gondalfi said toRotondo.
The $13,350 that the Clintons deducted in 1980? A tax lawyer whom Lindsay has consulted on Whitewater argues that the party that pays the money is entitled to the deduction, regardless of whether the mortgaged land was conveyed into the Whitewater corporation a year earlier. Not so, counters tax...