Word: taxingly
(lookup in dictionary)
(lookup stats)
Dates: during 1990-1999
Sort By: most recent first
(reverse)
EDUCATION IRA Up to $500 per child per year may be put away tax-deferred for college expenses. The income limit is $150,000 for married taxpayers...
ROTH IRA Named for its chief proponent, Senator William Roth of Delaware, this lets you put away as much as $2,000 a year of after-tax money in an IRA. When you retire, you can take the money out tax-free. Contributions are phased out for taxpayers with an annual income of $160,000. Existing IRAs can be converted to Roth IRAs for taxpayers making less than $100,000 a year...
...word deflation in serious discussions of U.S. prices for the first time in decades, as well as the possibility of a string of American budget surpluses unmatched since the Roaring Twenties--and the beginnings of a vigorous debate about whether this warrants a total overhaul of the U.S. tax code. In combination--or conflict--these forces make 1998 look anything but ho-hum and a lot more like the start of a journey into an unexplored world...
Another assumption is that the economy will grow steadily, continually pushing up tax revenues. Should there be one or more recessions instead, Reischauer thinks, the budget over the next 10 years or so would swing back and forth between "little surpluses" and offsetting "little deficits." Even that would mark the achievement, albeit more than 35 years late, of a goal once proclaimed by John F. Kennedy: a balanced budget over the business cycle...
Stephen Moore, director of fiscal-policy studies for the Cato Institute, a libertarian think tank, is more exuberant. Government projections, he notes, are based on a 4% yearly increase in tax revenues--but, in fact, revenues have risen an average of 7% for the past five or six years. If that continues, he says, "you start getting very enormous budget surpluses very quickly": $40 billion to $50 billion this year, "well over $150 billion by the year...