Word: huges
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Dates: during 1980-1989
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...very neat, very simple and very expensive. The mortgage interest deduction will cost the federal government some $32.2 billion this year, plus another $10.4 billion for home-owner property tax deductions. Although no checks are written, this money constitutes a huge subsidy--pure and simple--to homebuyers. When the government forgives part of your tax liability, it has exactly the same effect as sending you a welfare check...
...huge upset, Harvard's top singles player, junior Amy deLone, eliminated the tournament's top seed, Jennifer Lane, 3-6, 6-0, 6-4, in the third round. She went on to reach the semifinals, where she fell to Danielle Durak, William & Mary's top singles player...
...though the Federal Home Loan Bank Board (FHLBB) in San Francisco had found enough bad loans and shaky business practices to shut it down. After Keating purchased Lincoln in 1984, he switched from investing in safe, single-family mortgages to go-go deals in raw land, junk bonds and huge development projects like the $900-a-night Phoenician Resort in Scottsdale, Ariz...
Second, most capital gains are never taxed at all! There is no tax when the owner dies before the asset is sold. The profit on inherited property is measured only from the moment it was inherited. This is a huge loophole, costing the Government more than $5 billion a year in lost revenue...
...torrent of news about the California earthquake, the victims of another huge natural disaster on the opposite coast have been all but forgotten. Though the devastation wreaked by Hurricane Hugo when it smashed into South Carolina six weeks ago did not equal the damage caused by the tremor, it was by far the most destructive storm in U.S. history. In South Carolina alone, it killed 18 people, severely damaged or obliterated more than 36,000 homes, wiped out crops valued at $50 million and knocked down trees worth $1 billion. All told, property damage in the 24-county region that...