Word: deductionism
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Adjusted family income is defined on the Federal income tax form as 90 per cent of gross income minus a $675 deduction for each dependent, allowing some leeway for families with more than one child to support. For example, a family with an income of $19,000 and two children...
Chicken-or-Egg. The industry is also experimenting with other new marketing techniques. Boston's Keystone Custodian Funds, Inc. has built up a force of 500 salesmen to sell a combined package of mutual-fund shares and life insurance plans. In February, Dreyfus Corp. started a new fund with...
Adjusted family income is defined on the Federal income tax form as 90 per cent of gross income minus a $675 deduction for each dependent, allowing some leeway for families with more than one child to support. For example, a family with an income of $19,000 and two children...
Although the income tax is fair enough in principle?rates rise with ability to pay?the way in which it actually operates is not. Because of elaborate deductions and exemptions, hardly anyone pays the rate that theoretically applies to his salary bracket. The deductions and exemptions excessively favor married couples...
TAX CUTS. Passage of the tax-reduction bill-a keystone of Phase II-was anticlimactic, since the major obstacle had been removed two weeks ago. In its original form, the bill contained a Democratic-sponsored rider to allow each taxpayer to check off $1 of his taxes for a presidential...