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James Glassman on Tax Breaks

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From: The Washington Post
Date: 19950605
Author:

James Glassman's May 16 op-ed piece "Yes, Cut Taxes" proves Thomas Carlyle was right when he said a witty statesman can prove anything by numbers. Mr. Glassman wittily uses numbers to disguise some of the new tax subsidies for the rich contained in the House-passed tax bill H.R. 1215.

In discussing the proposed $500 child credit, Mr. Glassman disguises a new tax subsidy for the rich by using the example of a married couple with three children having a gross income of about $50,000 a year. Because the couple's income taxes are $4,643, they are able to reduce their taxes by $1,500. Mr. Glassman ...

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