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Newspaper
Independent
Location
Long Beach, California, United States of America
Date
Sep 04, 1975
Page
8
The House Ways and Means Committee examined how high earners legally pay little or no federal income tax using tax shelters. Examples include a doctor with 105000, a broker with 181000, and an executive with 448000 paying minimal taxes through leveraged real estate investments.
The IRS proposes taxing executives and car salesmen on fringe benefits such as exclusive use of hunting lodges aircraft beachfront condos cars and theater tickets. The rules would also apply to demonstrator cars for salesmen but not to non money benefits like insurance or vacation leave for all employees. Ambassadors and some public officials would be exempt from chauffeur and auto benefits. Kathleen Franklin 34 was arrested in Las Vegas on bribe and evidence destruction charges after offering to alter a traffic citation for a price.
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