Show Its' Its Your Choice hoice Among the many new in this years year's election elec clee- 1 tion is a tax loophole that politicians especially will willbe willbe willbe be watching closely It is a new provision which allows each taxpayer to deduct a portion of contributions made to a a political a political committee or to federal state or local election elec tion candidates Here is how it will work If you are arc single you can deduct a political contribution contribution contribution tion up to 50 from your taxable income Or you may subtract a credit equal to half your your of contribution from the tax you pay on 1972 income up to a maximum of 1250 If you file a joint return you can deduct a political apolitical contribution contribution con con- up to or subtract a credit up to 25 Congress also passed a new Federal Election Campaign Act which places comparatively strict limits on the amount amou t of money which may be any anyone one contributor and andon andon andon on what candidates may spend The new law requires publication publication pub pub- of the nam names of larger contributors Campaigns are very expensive For example more than 35 million was spent by the two political parties in 1908 on the presidential election campaign Nalone alone and the total i is expected to be higher this year The cost of an informed Informed informed in In- formed electorate in In Ina a democracy is high high but the election of able public officials wl who o enjoy the independence that only broadly based financial support permits is well worth the price Give what you c can n to the candidate or party of your choice you probably will find more personal satisfaction satisfaction satis satis- faction from making contribution r than from the ta tax Ec t J deduction a WS tia fl nt M j br I 11 |