Word: gephardts
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...reduce labor's influence in the party. South Carolina Senator Ernest Hollings calls the group "divisive and harmful." Others suspect that the council is likely to become a vehicle for the 1988 presidential ambitions of some of its founders, notably Virginia Governor Charles Robb and Missouri Congressman Richard Gephardt...
...mood in Congress, which seems receptive to some sort of flat tax. Each party has introduced its variant: a Republican version sponsored by Congressman Jack Kemp of New York and Senator Robert Kasten of Wisconsin, and a Democratic one by Senator Bill Bradley of New Jersey and Congressman Richard Gephardt of Missouri. The Baker-Regan duo may be able to provide the critical missing ingredient: enough muscle to persuade the President to provide personal, up-front leadership on the issue. "It will be a treeless plain with every special-interest group in the country coming out unless Ronald Reagan stands...
Category Current Tax Law Treasury Plan Kemp-Kasten Bradley-Gephardt Individual Single 15 brackets from 0% up to $2,800 of 0% up to $2,700 0% up to $3,000 Rates 11% to 50% AGI (adjusted 25% flat rate, with 14% up to $25,000 gross income) 20% exclusion for 26%up to $37,500 15% up to $19,300 earned income 30% over $37,500 25% up to $38,100 35% over...
...Congress last year. The Republican plan, sponsored by Congressman Jack Kemp of New York and Senator Robert Kasten of Wisconsin, comes closest to the idea of a "flat tax," a single rate for all taxpayers. The Democratic alternative, sponsored by Senator Bill Bradley of New Jersey and Congressmen Richard Gephardt of Missouri, offers graduated but lower tax rates. Below, the main features affecting individual taxpayers are compared with current...
...Under Bradley-Gephardt, ²Adjusting tax ³Annual contribution to 4Corporate contribution 5Profit on sale of home is all deductions are at a brackets to inflation IRA up to $2,000 is not to pension fund is not not taxed as income if maximum rate of 14% counted as taxable income counted as taxable in-used to buy new home come until retirement within 18 months