Word: iras
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Dates: during 1980-1989
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Eliminating deductions for IRA contributions. Individual taxpayers would no longer be able to deduct up to $2,000 in annual contributions, though they would still be allowed to defer taxes on the interest they earn on their accounts. The committee decided to wipe out much of the IRA benefit because the accounts are expected to cost the Government some $13 billion this year, and it has never been proved that they prompt consumers to save more. But banks and mutual funds, which together hold a large chunk of the $250 billion in IRA accounts, want to shoot down this part...
Meanwhile, people sleep on the streets while our tax dollars are at work waging war in Central America. We know we really ought to find the time and the courage to do something about it. (Things to do today: call insurance broker, add to IRA, smash the state...
...Journal, Michael Davis of The (Baltimore) Evening Sun, Susan Dentzer of Newsweek Magazine, Valerie Hyman of WSMV-TV in Nashville, Nancy Lee of The New York Times, Martha Matzke of Education Week, Michael Meyers of The Minneapolis Star and Tribune, Charles Powers of The Los Angeles Times, and Ira Rosen of the CBS program "60 Minutes...
...This is about as bad as anything that I can recall in the 1960s," said a dismayed University of California, Berkeley, Chancellor Ira Heyman. Some 400 demonstrators, many armed with rocks, bottles and chunks of concrete, faced off against club-swinging police. In two days of fighting, more than 150 were arrested and at least 33 injured...
Despite potential adjustments in the law, the IRA momentum is unlikely to diminish in the near future. With a certain amount of wonder, Economist Johnson of the Investment Company Institute declares that "many consumers are saving for an IRA contribution by forgoing weekend movies or a spring vacation or that brand-new suit." U.S. consumers, usually noted for their spending, now appear to have saving on their minds, at least until April...