Malcolm Forbes’ Birthday Bash
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The Malcolm Forbes article (Aug. 20) points up the area of taxation most in need of reform--corporate taxes.
Virtually every doctor, every lawyer, everyone who can, incorporates. Why? Because it is infinitely more advantageous than being taxed as an individual.
Time for Congress to start considering stepping on some corporate toes. A system that (would allow) Forbes to deduct his party expenses but doesn’t allow an individual deduction for an IRA (let alone party expenses) is nowhere near being equitable.
MICHAEL LAURENCE
Sherman Oaks
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