Reagan Tax Plan Seen Favoring Capital Gains Reforms
White House officials say President Reagan plans a tax package to reform capital gains tax rules to be more generous for investors over time. The plan also targets limits on charitable deductions and health insurance premium taxation, with changes to mortgage interest deductions and taxes on state and local income. Some elements may shift during his European trip as the package is reviewed.
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Reagan
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Bob Dole
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Illinois Veteran recalls VE Day prediction at hospital
Edwardsville resident Thomas Fitzmaurice, twice wounded paratrooper, recalls predicting VE Day a month early while recovering from an amputation at Percy Jones Hospital in Michigan. He correctly guessed 8 a.m. May 8 1945, winning a $25 savings bond, as Truman declared Victory in Europe. Fitzmaurice, drafted into infantry then reassigned to the 101st Airborne, now works with veterans groups near St Louis.
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Jefferson Barracks Military Hospital
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France
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Economy on edge says Fed official in Tokyo
Federal Reserve vice chairman Preston Martin warned the U S economy is on the edge of a growth recession. He spoke at a Foreign Correspondents Club of Japan lunch in Tokyo outlining a mixed outlook for the United States. In Washington the government reported a 28.3 billion dollar merchandise trade deficit for January through March, up 16 percent from late 1984.
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Foreign Correspondents’ Club of Japan
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Pentagon critics clash over new Soviet arr
Pentagon officials defend Reagan claim that the SS X 24 missile signals Soviet first strike intent while critics say the MX remains a greater threat. Brookings and IPS scholars argue the MX is a clearer first strike weapon due to accuracy, challenging the administration’s emphasis on the SS X 24.
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Russia
Murdoch Avoids Federal Exemption on Newspaper and TV Holdings
Rupert Murdoch indicates no plan to seek FCC exemption that would let him keep newspapers in New York and Chicago while owning six big city TV stations. Spokesman Howard Rubenstein said inquiries have come in about buying the Chicago Sun-Times New York Post and Village Voice as Murdoch and Marvin Davis close a $2 billion Metromedia TV station deal.
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Hearst Corp
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Post
Sun-Times
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