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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Wally Mastroly who wrote (10186)12/1/1999 6:00:00 PM
From: Investor2  Read Replies (4) of 15132
 
RE: "How about a tax cut?"

IMO, Bush should scrap the rest of his tax cut plan and focus his efforts on the following five items of his plan:

"-- Expand the charitable tax deduction, allowing some 70 million taxpayers who do not itemize their returns to deduct contributions.

-- Increase the annual contribution limit on educational savings accounts from $500 to $5,000, and allow them to be used for all school expenses instead of just to pay for college.

-- Eliminate the death tax over eight years.

-- Restore the 10 percent tax deduction for two-income, married couples, greatly reducing the marriage penalty under which couples who work pay more than they would have had they remained single.

-- Eliminate a provision under which retirees who work risk losing retirement benefits if they earn too much."

Best wishes,

I2
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