Word: taxed
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ACQUITTED. Don King, 54, boxing promoter of fights like the 1975 Muhammad Ali-Joe Frazier "Thrilla in Manila"; on charges of evading income taxes by taking unreported cash advances from a gambling casino that booked his fights; in New York City. King admitted receiving some of the money but claimed that others handled his finances and that they were responsible for failing to report the income. His associate Constance Harper was convicted of three counts of attempted tax evasion. Said King after being acquitted: "Only in America...
...voucher idea is nothing if not controversial. Miriam Rosenberg, government-relations specialist for the National Parent Teacher Association, called Bennett's proposal an "inappropriate and possibly unconstitutional transfer of public tax dollars to private and especially private religious schools." Others argued that $600 would not go far toward private day-school tuition or even the pupil cost in an upscale suburban school (typically...
...Economy & Business Washington's tax-reform movement gets rolling again. How some U.S. firms succeed in Japan. Museum stores sell culture...
...justice actually has been meted out to Communist Party bigwigs, rather than to "common criminals." In a startling departure from this double standard, a Peking criminal court last week sentenced 23 government officials to as long as ten years in prison for crimes "involving bribery, fraud, illegal speculation and tax evasion." To make sure the Chinese public got the message, the sentencing hearing was broadcast on national television and the culprits were shown with their heads bowed and shaved. Most prominent among them was Yin Zhinong, a retired deputy manager of a steel mill and longtime Communist Party member...
Like Rocky Balboa, the movie boxer, the plan to change the federal tax system keeps coming back for more punishment. Just when the idea has been battered to the canvas, it struggles to its feet again. Last week reform went another round, this time energized by a fresh proposal from the House Ways and Means Committee. Some of the populist ideals found in the Reagan Administration's two earlier proposals remain alive in this one. The bill would cut tax rates, close loopholes, give relief to millions of working poor people and make corporations carry a greater share...