The Kindest Cuts

Besides across-the-board personal income tax cuts of 5%, 10% and 10% in the next three fiscal years, the President will be pressing for a few more complicated reductions.

Among them:

>The top tax rate on "unearned" income (interest, dividends, rents) would be slashed from 70% to 50%.

> The "marriage tax" would be reduced. That glitch in the tax laws now makes working couples pay more on their combined incomes than they would if filing separately as single taxpayers.

> The temporary $200 exclusion ($400 for couples) on savings-account interest and dividends would be made permanent, and the $1,500 a year deduction for money deposited...

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