Word: nontaxable
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SUBSIDY. A tax subsidy is any deduction or exemption that you oppose. In the abstract, it is possible to separate tax-code complications that relate to fairness in the tax system from complications that have some nontax-related purpose, and to call the second type a subsidy. In practice, the distinction is harder. If a person earns $100,000 and has $20,000 in medical expenses, should he or she be taxed as someone who earns $100,000 or as someone who earns $80,000? Likewise, what about a person who earns $100,000 and gives $20,000 to charity...
...increasingly interconnected world, it's tempting to interpret even nontax news stories according to their impact on your own life. How about the UPS strike? Yes, of course, a responsible citizen is concerned with analyzing the role played by part-time jobs in the American economy, but perhaps not as concerned as he is with whether or not those two polo shirts from the catalog company--one in puce, one in taupe--will arrive in time for the most important weekend of the summer...
...newly created Energy Committee, chaired by Senator Henry Jackson, will have the authority to examine all the nontax aspects of the plan, such as fixing the price for natural gas, setting efficiency standards for appliances and approving solar-energy programs. Jackson, whom Carter beat badly in the primaries last year, has been fiercely independent of the Carter Administration. Still, Jackson last week issued a statement backing the "President's efforts to obtain a comprehensive energy program," although he warned that Carter's proposed gas tax "won't get anywhere." This week the industrious Jackson will begin...
...Education and Labor Committee would be split in two. A new Labor Committee would take over nontax aspects of unemployment compensation from Ways and Means and legislation dealing with civil service and postal workers. A new Education Committee would pick up responsibility for the elderly, the arts and humanities and a vast array of federal educational programs...
...depressed he became. "For two days," said he, "I listened to reports about trie Ford Foundation and what it expected to do, about the National Merit Scholarship program, the Sears Roebuck scholarship plan and similar ones." Yet for all these benefactions, Salem remained completely ineligible. Reason: like 114 other nontax-supported, liberal arts campuses across the U.S., it is not regionally accredited...
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