Word: deductionism
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Aside from the political scars he has accumulated, notably from old liberal hostility to his support of the Viet Nam War, Humphrey has some other liabilities. Last spring his 1970 campaign manager, Jack Chestnut, was convicted of accepting illegal campaign contributions from the dairy producers, who also helped finance the...
The Simon plan would work this way: corporations would receive a tax deduction equal to about 50% of the total amount of dividends they paid out each year. The individual stockholder would report as income not just his dividends, but his share of the company's total profit; however...
But when an ordinary working man takes time off from his job to take his child to a clinic for medical treatment, and decides to have lunch with that child in a cafeteria, there is no free lunch, and no tax deduction. All there is, is several hours of lost...
Humphrey's papers had been appraised by Ralph Newman of Chicago, who had also set the value of the pre-presidential papers of Richard Nixon that were given to the National Archives. Newman has been indicted for his role in that affair, in which Nixon claimed tax deductions totaling...
April 1969, and Richard and Pat Nixon signed the joint return. Had the scheme not been discovered, the President would have avoided paying $235,000 in taxes over a period of several years, since the deduction was taken only in part on the 1969 return, and was spread out over...