Word: surtax
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Dates: during 1990-1999
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...January 1, 1991, language in certain provisions of the Massachusetts general laws relating to taxes shall be the same as it was on August 2, 1989, or the effective date of the proposed law, whichever language yields less tax revenue. The tax provisions affected include sections relating to the surtax on business income, corporate excise taxes, S corporation taxes, taxes on security corporations, taxes on Part A income (in general, unearned income), bank taxes, excise taxes on alcoholic beverages and cigarettes, excise taxes on deeds, estate taxes, payments to the Commonwealth relating to horse and dog racing, payments...
...cigarettes. They proposed a smaller increase in Medicare premiums than the defeated pact would have. Most important, the House Democrats would have taken a whack at the rich by hiking the marginal tax rate for couples earning more than $78,400 to 33% from 28%, with an extra 10% surtax on earnings above $1 million. "What we're doing is getting our house in order," boasted Dan Rostenkowski, chairman of the Ways and Means Committee. "Tonight, equity and fairness make a comeback...
...with 31 million members and a 1988 budget of $236 million, is among the most powerful lobbies on Capitol Hill. Alongside it is the even more militant National Committee to Preserve Social Security and Medicare. Last year the 5 million-member organization led the successful fight to repeal the surtax that Congress had imposed on the Social Security benefits of wealthier recipients to finance catastrophic health insurance for all older people...
...Congress have forgotten the moment during the surtax fight when a crowd of Chicago retirees mobbed the car of Dan Rostenkowski, chairman of the House Ways and Means Committee. To avoid being mobbed in the same way on Election Day, Congress has declined to inflict much pain on its older constituents. As for children -- they don't vote...
...Democrats no longer are insisting on imposing a surtax on the rich. Rather, Foley said, the new plan "fully supplants the impact of the surtax...