Word: paid
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Dates: during 1980-1989
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...secret" because the cost is hidden in the tax code. Beneficiaries of the mortgage interest deduction don't receive a government check in the mail. They simply write down on their tax returns the amount of interest they paid on their home mortgage, and thereby avoid a substantial part of their income tax bill...
...sell. Of course, the same is true of interest -- an 8% return on a money-market fund at a time of 5% inflation is really only 3% -- but no one is proposing to do anything about that. Furthermore, no one is proposing to limit the deduction for interest paid. In a world with no taxes, it would not make sense to borrow at 10% for an investment that will pay only 8%. If the tax system adjusts profits for inflation but not borrowing costs, such a topsy-turvy investment can suddenly become a brilliant tax shelter. If you believe...
...enough to help the area rebound. The agency has closed all but five of 32 disaster-assistance centers after taking more than 51,000 applications for aid. So far, the Federal Government has committed $321 million to Hugo recovery efforts in South Carolina, and $100 million has already been paid to contractors and cleanup crews. About $17 million in checks for individual victims of the storm has also been mailed...
...placed Sachs in a cross fire between U.S. bankers, who oppose large-scale debt forgiveness, and populist foreign critics, who resent his calls for fiscal austerity. Walter Wriston, the former chairman of Citicorp, whose Citibank unit has more than $8 billion in outstanding Latin American loans, calls Sachs "a paid flack for the countries of Latin America." Wriston argues that widespread loan write-offs would prevent Latin countries from receiving new credit. At the same time, Julio Bravo, finance secretary of the Bolivian Worker's Central Union, charges that as a result of Sachs' advice, "salaries have decreased, the firing...
...Final Days, last weekend's account of the end of Watergate and Nixon's presidency. Gerald Ford was at the Herbert Hoover Library in West Branch, Iowa, of all places, addressing a conference called "Farewell to the Chief," a discussion of life after the White House. Expenses paid, of course...