Word: deductionism
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In the Bushes' case, the tax bite was further reduced this year by the fact that they contributed to charity all the after-tax proceeds of the book that the First Lady penned in the name of their dog, which earned $889,176 in royalties. If the Bushes had kept...
By abolishing the Social Security tax and combining it under one 13% ((flat rate)) and allowing for a deduction for rent, charity or home mortgage, you're actually making it very progressive. And I'll give you an example. If you're in the lowest 20%, your income is $5...
But Bush's reform plan has huge drawbacks. One is that his $3,750 tax credit and deduction will not cover the $5,600 price of insurance premiums for an average family. Another is that it will do little to curb the skyrocketing costs of medical care, on which the...
This is not simply a struggle between believers and nonbelievers, or between liberals and conservatives. The conflict is far more subtle, a product of centuries of legal evolution. It gets to the very heart of America's identity, for it is about a clashing of rights and responsibilities: Should Christian...
The trust, which handles Bush's holdings from his days as a Texas oil baron, reported a capital gains loss of $11,822 in 1990, of which $3000 was claimed as a tax deduction.