Word: deductionism
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Politically, the timing of last week's verdict could hardly have been worse for the beleaguered President, coming as millions of American taxpayers labored against the April 15 deadline for reporting their own incomes for 1973. As the Atlanta Journal harshly put it in a three-sentence editorial: "The White...
By far the largest item that the staff challenged was the huge tax write-off that Nixon claimed for the gift of his pre-presidential papers to the National Archives. His taxmen had awarded him a total tax deduction of $576,000, which was the value set on the papers...
The committee is expected to conclude that Nixon owes some $300,000 in back taxes for having taken a deduction of $482,000 for the gift of his vice-presidential papers-a transaction that he has conceded may not have been completed before a law banning such deductions went into...
-Also certain to be cited as another Nixon tax error was his failure to report a $142,000 profit on the sale of his Manhattan apartment in 1969 and to pay a capital gains tax on it. Nixon had asked the committee to examine both this sale and the deduction...
Personal Clout. But Kalmbach also provided some distinctly profitable services to the President. He not only handled the complicated purchase of Nixon's estate in San Clemente but had the clout on his own to get the Government to make thousands of dollars worth of improvements on the property...