Word: deductionism
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Washington last week reproved an old gambler's axiom: the best way to make money is to play with other people's chips. While U.S. airlines did their biggest job in history, it was the airmail division of the Post Office which collected over half the ante. The...
Power of Deduction. In Des Moines, Sportswriter Leighton House, whose pay check carried on its stub the usual list of wartime deductions (for Social Security, hospital insurance, company pension, Community Chest, war bond, victory tax), made a natural mistake, tore up the check, tried to deposit the stub at his...
Best estimate is that this year income payments, after the deduction of personal income taxes, are likely to reach some $118 billion. If the U.S. people save as much as last year, they will put some $25 billion into savings accounts, war bonds, insurance premiums, payment of debts and mortgages...
>Gave families with sickness expense a break by approving the deduction of medical expenses exceeding 5% of net income but not more than $2,500.
> Adopted a modified withholding tax. As the plan now stands, a 10% tax deduction from wages would start next January.