Word: write-off
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SOLUTION: Reduce the corporate write-off for medical costs. And impose a tax on employee health benefits at a moderate rate for well-compensated workers...
...unemployment report came two days after American Express said it would lay off 1,700 workers and take a $265 million write-off because of rising defaults among holders of its new Optima credit card. Ames Department Stores, meanwhile, said it would close 77 of its 448 stores and lay off about 4,500 employees early next year...
...only did he take a tax write-off on half his $100 million settlement on insider-trading charges, he also kept millions more from shady deals and, while in prison, paid fellow inmates to do his laundry...
...Hills, but rival firms turned up their noses at anything that might carry legal liabilities or the taint of scandal. The firm's stockholders will get little or nothing, most notably Belgium's Lambert Group, which owned 26% of the firm and may have to take a $92 million write-off. Creditors include Taiyo Mutual Life, a Tokyo firm with a $70 million claim, and Milken himself, who says he is owed more than $200 million in compensation...
Reduce the write-off on business meals. The restaurant business did not collapse when the full deduction was cut to 80% in 1986. Now the deduction could be sliced to 50%. $3.6 billion