Word: deductionism
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On the other hand, the average homeowner will lose a big chunk of his federal income tax deduction because of the lowered property tax. Uncle Sam is expected to gain some $2.3 billion from Californians as a result. And since the California income tax is tied to the federal tax...
Rusk makes a good point. But Carter has enlarged his own problem. He is uncomfortable with bigness and complexity. He is suspicious of wealth and achievement, wary of tradition, protocol and many of the rituals of advanced urban society. In his populist fevers he sometimes seems mistakenly to champion mediocrity...
But the Hubers have paid a price. Federal income tax laws permit a full $750 deduction for any child born before midnight on Dec. 31. Both Huber babies arrived ahead of schedule-but not quite far enough ahead. Beaten by the clock two years running, the Hubers have now lost...
In the economic field, Washington has protested Israeli offshore oil exploration in the Gulf of Suez. Publicity forced cancellation of a cozy arrangement under which the expenses of the 202-man Israeli arms-purchasing mission in New York was picked up by the U.S. Washington could drag its feet in...
Expense-account deductions would be sharply curtailed. The present idea is to put a ceiling on the deduction that could be taken for a business lunch. Aides are having trouble fixing a figure, since meals and drinks cost so much more in Manhattan than in, say, Cedar Rapids; one guess...