Word: deductionism
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The mess has also caused some economists to question why we subsidize housing so heavily in the first place. The tax deduction for home-mortgage interest alone costs the government about $80 billion a year, and most of that benefit flows to the wealthiest 16% of taxpayers, according to the...
Several countries have dropped the mortgage-interest deduction in recent years, with no noticeably adverse effects, but there's no indication that any of our presidential candidates are contemplating such a move. What is likely to be on the next Administration's agenda are measures to restrain Wall Street - which...
No wonder some parents want a firm hand to restore order. (Though as a parent, I should note that having a kid gives you only an extra tax deduction, not an extra vote.) The government cannot regulate violence on TV, but some lawmakers are advocating that it do so. And...
But the government may well try to foster private participation by tinkering with the tax system. "In the U.S. you can donate a painting to a museum and take a full deduction," says art expert Boïcos. "Here it's limited. Here the government makes the important decisions. But...
Imagine you are a successful alum several decades out of Harvard or a similarly prestigious institution. You have a few million dollars that you want to give to charity. Where would your donation go? For a high proportion of today’s ultra-rich, the answer to that question...