Word: deductionism
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With or without the personal exemption, a no-deduction, no-discrimination, low-rate, mild-progression tax structure could be only a gem of simplicity and justice compared to the present structure. Such a sweeping reform would bring a great release of energies. All of the effort and imagination now devoted...
*The oil-depletion allowance permits the owner of an oil-producing property to deduct 27˝% of the gross income from the property in computing the tax liability, with the restriction that the allowance cannot in any year exceed 50% of the taxable income from the property. Yearly cost to the...
Lost Lubricant. They had a point, and so did he. Under the new rules, as the Internal Revenue Service originally chose to interpret them, businessmen would be obliged to provide receipts for all outlays over $10. They would also be required to itemize expenses down to 10? telephone calls and...
Why the News felt so good about everything was not easy to discern. After a show of stubbornness, it yielded to the striking New York Newspaper Guild on nearly every contested point, including dues checkoff (automatic payroll deduction of Guild dues). Even the wage settlement in the new two-year...
By week's end the Guild, whose contracts with Manhattan's seven dailies expired on Halloween, had struck only the News. This was clearly a backdown from the Guild's pre-strike threat of "no contract, no work." It was a strong indication, as well, that the...