Word: would
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Dates: during 1980-1989
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CUTTING CAPITAL GAINS. A broad tax break for capital gains, as the House approved and President Bush supports, would in the long run be expensive and dumb. Applying the break to investments we already own does nothing to encourage us to make new ones. Any tax break should be on future investments only...
...even there, restoring a two-tiered system -- with one income-tax rate for "ordinary" income and a lower one for capital gains -- would do little more than restore the incentive to concoct schemes to convert the former to the latter. We don't need more tax lawyers and tax-driven strategies to compete in the world marketplace; we need a simple tax system that doesn't distort economic decisions...
...notion of indexing gains to inflation -- to tax only "real" gains -- would add a whole new level of complication in computing taxes. And is it fair? It insulates those with real estate and stocks and fine art from the effects of inflation but not those without appreciable assets, whom inflation hits hardest. (Homeowners already have big tax breaks. They're allowed to roll gains tax-free from one home to the next and, at 55, avoid tax altogether on $125,000.) Furthermore, insulating voters from inflation makes them more tolerant of it and thus its rise more likely...
...years ago, Michael refused to bathe, disappeared from school for weeks at a time and filched money with Mazzafro's cash-machine card. "I was used to people taking me, then leaving me," the boy recalls. "I guess I was testing Dad all the time to see what he would...
...remedy is being tried in New York City. The city's new adoption- counseling unit works with drug-addicted birth mothers at the hospital to explain the possibility of giving up parental rights and freeing their children for quick adoption. Earlier this year the city instituted a plan encouraging would-be adoptive parents to serve as foster parents for children who haven't yet been freed for adoption, and then adopt them as soon as legally possible. "Parents don't have to go to Korea or South America if they ! want to adopt an infant," says adoption-services director Ferrer...