Word: exempt
(lookup in dictionary)
(lookup stats)
Dates: during 1950-1959
Sort By: most recent first
(reverse)
Although parents currently spend approximately $2000 a year on any son or daughter they send to college, they receive an exemption of only $600 on their income tax. The Multer bill would exempt them from the total amount they spend. If the student were self supporting, he would have the exemption on his own income...
...board manufacturers or retail sales tax, at least not under that politically dangerous name. Instead, the Administration is likely to ask Congress to rejigger existing federal excise taxes, perhaps lower them on items such as movie admissions, luggage and jewelry, and apply them to items such as clothing, now exempt. The tax program may be sugar-coated with increased income-tax exemptions for working mothers...
...have to come from those with middle-and lower-bracket incomes because they form the majority of the population. But it would hardly "soak the poor," since food and housing and medical expenses, on which the lowest-income families spend as much as 65% of their earnings, would be exempt under all proposed plans. Instead, the biggest dent, dollarwise, would be made on those who have the most to spend on nonessentials. As for a pyramiding of the tax, Congress could easily prevent this by requiring retailers to leave out the tax when computing markups. The tax might restrict sales...
...protected by their parents' health insurance plans. Nor are we sure how married undergraduates, whose number may not be legion but whose lot in college life is often enough forgotten, how these undergraduates with dependents are taking the rule that no kind of family health and hospital insurance will exempt the husband and/or father from buying additional service and insurance from Harvard...
...bill granting relief from federal taxes to movie theaters-TIME, Aug. 17). The President plugged a tax loophole through which movie stars have avoided paying income taxes by staying outside the U.S. for an 18-month period. The amended bill limits to $20,000 the amount of tax-exempt earnings within an 18-month period, and will probably do much to bring movie stars, writers and producers home...