Word: iras
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...income above $9,575. Under the Reagan plan, taxes would start only if its income exceeded $12,798. Another tax break would give a family with one working spouse the opportunity to escape taxes on $4,000 deposited in Individual Retirement Accounts. The current limit is $2,250. IRA contributions by families in which both spouses work would remain deductible at $2,000 a person...
...deduction would lower taxes by $150, $250 or $350, depending on whether a family was in the 15%, 25% or 35% tax bracket. Barbara Kennelly, a Democratic Congresswoman from Connecticut, objected that though Reagan billed his reforms as "pro-family," the child-care, IRA and other provisions seemed tilted toward just one kind of family: the classic one in which only the husband works and the wife stays home and takes care of the children...
What red-blooded American doesn't love graphic stories about killing IRA gun runners. Basque terrorists, Syrians, Druze, and Iranian lighters who after all are the scum of the earth? I like Dirty Harry, Rivers doesn't mess around with stupid questions like "who is responsible" or "Is it legal." He gets right down to the good stuff, like now to blow up a terrorist's Renault while he is sticking his head under the hood...
...April 15 fast approaches, financial institutions are vying to attract customers for tax-deferred Individual Retirement Accounts. San Francisco's Continental Savings of America (assets: $346 million) last week began offering an IRA with a difference. The S and L is giving women depositors an 11.5% interest rate on new IRAs, but only 11% to men. At the higher rate, a female saver will earn nearly $47,000 more than a male if both contribute the annual individual maximum of $2,000 for 30 years. Says Susan Loughridge, a Continental senior vice president: "It's our theory that women entered...
While few male customers complained about reverse discrimination, the California attorney general's office may challenge the new IRAs in court as a violation of state civil rights law. Continental hopes that its IRA policy can survive legal scrutiny. If not, the bank will offer the higher 11.5% rate to all comers--regardless...