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Mark Kirk, a Republican House member from Illinois, said a compromise could be struck in conference committee to subject tax cuts to pay-as-you-go rules but exempt those whose extensions are called for in this year's budget resolution.
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Joel Slemrod of the University of Michigan has written with Jon Bakija an excellent book on the subject, "Taxing Ourselves" (MIT Press).
If you're like most people, you've spent October thinking about depressingly earthly subjects: taxes, deficits, binders full of women.
By Joshua Rothman October 18 , 2012If you're like most people, you've spent October thinking about depressingly earthly subjects: taxes, deficits, binders full of women.
Investments held outside these tax-privileged wrappers are subject to tax on income and gains.
What is fair about taxing income (or other earnings) that has already been subject to tax?
(Alimony is subject to tax).
After the first 25%, these withdrawals are subject to tax.
The money would not be subject to tax.
And some income isn't subject to tax.
Therefore, they are not subject to tax when he or she dies.
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