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“美国的事就是做生意。”1925年总统卡尔文·库利吉如是说。当美国全国商业界仔细研读五月七日由参议院金融委员会通过的全面税制改革方案的小字体印刷的细节规定附件时，他们可能感到纳闷，库利吉所指的到底是哪个国家。这个被委员会主席──俄勒冈共和党党员鲍勃·派克伍德重新修改过的新方案一眼看上去似乎是将税务负担从个人转移到工商企业的头上。但是该议案非常微妙，大有讲究，让人不胜意外，它使美国变成了一个会计之国：上星期几百万人伏身于袖珍计算器，算算自己是赚、是亏、还是正好持平。 ( !fKNia@S
1 “The business of America is business, “ declared President Calvin Coolidge in 1925. As the nation's commercial classes examine the fine print of the sweeping tax-reform bill passed May 7 by the Senate Finance Committee, they may wonder what country Coolidge was talking about. The bill remolded by Oregon Republican Bob Packwood, the committee's chairman, appears at first glance to be a major shift in tax burdens away from individuals and onto the shoulders of business. Yet the proposal is so subtle, so elegant, so freighted with surprises that it is turning America into a nation of accountants: millions of people sat hunched over their pocket calculators last week trying to figure out whether they would win, lose or break even. f=gW]x7'R+
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为了筹集足够的钱，平均减免6.3％的个人联邦税，委员会的这个议案要向公司额外征收一千亿美元税金。该计划会减少或取消公司很多很重要的优惠，包括公司购买经营设备的投资税款扣除，以及计算所得税时可全部扣除的业务招待费。另外，很多关于个人税法的修改提案，例如对个人退休金账户的控制，都将改变消费者花钱和攒钱的方式，影响到全体美国人。 tKx~1-
2 To raise enough money to give individuals an average 6.3% federal tax break, the committee's bill would levy an extra $100 billion on corporations. The plan would reduce or abolish many cherished business preferences, including the investment tax credit for companies that buy business equipment and the full deductibility of corporate entertainment. In addition, many of the proposed changes in individual tax law, for example, the curbing of individual retirement accounts, will affect corporate America by changing the way consumers spend and save. l=)xo@6
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好几种产业，包括房地产开发商和餐馆老板已开始愤怒地抗议。他们声称派克伍德的计划单把他们挑出来承担多于他们应承担的税收份额。但大部分的公司经理似乎赞成委员会的这项提案。他们认为这是一个较为公正的计划。此外，从长远的观点来看，它有助于提高美国经济效率和经济增长。例如，议案对“推迟纳税”在实质上的取消，能制止将投资资本流入故意亏损的企业以求减税的行为。普鲁丹歇尔保险公司董事长罗伯特·贝克说:“我能接受这个议案，配合执行。” 1.{z3_S21:
3 Several industries, including real estate developers and restaurateurs, have started howling in protest. They claim that Packwood 's plan singles them out for more than their share of reform. The majority of corporate leaders, though, appear to be lining up in favor of the committee's proposal. They see it as a relatively equitable plan and, moreover, one that could help by boosting U.S. economic efficiency and growth in the long run. The bill's virtual abolition of tax shelters, for example, could stop the flow of investment capital into ventures that deliberately lose money to create tax breaks. Said Robert Beck, chairman of the Prudential insurance company: “I could take that bill and run with it.” wX5tp1 ?1J
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参议院委员会增收公司所得税的提案没有以前苛刻。比较起来，去年十二月众议院通过的税制改革议案建议增收1,400亿美元的营业税。全国制造商协会税收及财政政策副会长保罗·哈德说:“人们有支持参议院委员会议案的强烈意向，其基本原因主要是损害管理。假如在1,000亿美元和1,400亿美元的税额增收之间选择，你肯定会选1,000亿美元。
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4 The Senate committee's proposed increase in corporate income taxes is less harsh than in earlier proposals. By comparison, the tax-reform bill passed by the House of Representatives last December would increase business taxes by about $140 billion. Says Paul Huard, vice president of taxation and fiscal policy for the National Association of Manufacturers: “There ill be a strong inclination to support the Senate committee's bill, and the rationale will be largely damage control. If you have to choose between a $100 billion tax increase and a $140 billion one, ou take the $100 billion.” 1
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为换取堵塞漏洞，参议院委员会议案把最高营业税率从46％降低到33％，作为对公司的回报。曼哈顿查斯银行董事长威勒德·巴切说:“这个议案不同的地方就是相比较而言税率低了很多。” 6/Xk7B
5 In exchange for taking away loopholes, the Senate committee's bill would reward businesses by lowering the top business-tax rate, from 46% to 33%. Said Willard Butcher, hairman of Chase Manhattan Bank: “What's different about this tax bill is the very significantly ower rate.” a
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如果报怨意味着延误议案进程，那么即使实施税改后负担加重的公司可能也不愿意抱怨了。税制改革过程长久，尽管未卜之事甚多，却是战略性的计划。芝加哥Rubloff金融服务公司总裁斯蒂芬·辛克莱抱怨道:“从1984年以来这个计划一直在进行。如果他们愿意下决心，告诉我们税法到底变成怎样，我们就可以继续做我们的生意了。”这个希望是很可能变为现实的，因为委员会的建议连交好运。上星期里根总统在税改行动联盟 --- 由一些公司和贸易协会组成 --- 的谈话中全力支持了派克伍德计划。 ) j(7]uX`
6 Yet even businesses that would carry a larger burden under the committee's plan may be reluctant to make a fuss if it means holding up the bill's progress. The drawn-out process of tax reform, with all its uncertainty, has strategic plans. Complains Stephen Sinclair, president of Rubloff Financial Services in Chicago: “This has been going on since 1984. If they would just make up their minds and tell us what the tax law is going to be ,we could go on and do our business. “ That prospect seems increasingly probable now that the committee's proposal is on a roll. President Reagan, speaking last week to the Tax Reform Action Coalition, a group of corporations and trade associations, gave the Packwood plan full support. \lf;P?M^
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尽管表面上受到普遍的接受，议案仍然存在一些颇有争议的部分。如果议案通过的话，很多公司都不得不做巨大的改革。其中： #Z`q+@@ ]A
7 Despite its apparent mainstream acceptance, the bill nonetheless contains features that ill be loudly debated and, if passed, will force businesses to make drastic changes. Among them: G"U9E5O
取消投资税款扣除。取消这一项是任何税制改革计划的重要组成因素，因为在未来的五年之内它能为政府节约1，400亿美元。但它给从炼钢厂到航空公司等一系列资本密集的产业带来困难，因为这些产业是靠投资税款扣除提供设备的投资经费。对从事制造设备的公司来说，这意味着双重打击，因为它们及它们的客户都将失去投资税款扣除。伊利诺斯州洛克弗德的一家叫Circle Boring机床厂的董事长格兰·爱克堡说:“我很惊讶国会已经忘记1969年他们取消投资税款扣除时给我们行业造成怎样的灾难”。 [OV"}<V
8 Repealing the investment tax credit. Eliminating this program is a crucial ingredient of any tax-reform plan because it will save the Government almost $140 billion over the next five years. Yet it could cause hardship for capital-intensive businesses ranging from steelmakers to airlines, which have relied on the credits to help finance their investments in equipment. It represents a double whammy for companies that produce manufacturing equipment because both they and their customers will lose the credits. Said Glenn Ekberg, president of Circle Boring, a machine-tool maker in Rockford, Ill.: “I'm surprised Congress has orgotten what a disaster they created for jobs in our industry when they cut [the investment tax credit] off before in 1969.” A gg<tM{yB
设立20％这一最低公司税。这一条能防止一些赚大钱的公司在交所得税时逃避交税。以前由于有漏洞，很多大公司都这么干。根据一个消费者和劳工团体? ? “税收公正公民”所做的调查，波音公司、国际电话电报公司、通用动力公司、灰狗汽车旅游公司、格鲁曼公司，还有其它一些公司，从1981年到1984年间没有交过税。波音公司董事长T·A·威尔逊评论说:“人们抱怨我们使用各种手段延期纳税。我宁愿上交最低限度的税款，而不要再听那些指责”。 (*nT(Adk
9 Creating a 20% minimum corporate tax. This would prevent large, profitable companies from getting off scot-free at income-tax time, as many have done in the past because of loopholes. Boeing, ITT, General Dynamics, Greyhound and Grumman, among others, paid no taxes between 1981 and 1984, according to a study by Citizens for Tax Justice,a consumer and labor group. Commented T.A. Wilson, chairman of Boeing: “The complaint is that through various techniques, we defer taxes. I would just as soon have a minimum tax and take a lot less of that flak.” 5k3 b3&
取消个人资本收益减税。委员会的计划取消一项现有条款，即准许纳税人售股票、房产和其它不动产所得的百分之六十免于课税。相反，这些收益作为平常收入予以课税，这个规定会严重影响企业公司。比如依靠风险资本贷款来筹集经费的硅谷电子工业暴发户们。原因是如果他们的利润税率增高，那些潜在的资金提供者会失去一个重要的优惠。打算反对委员会计划的加州参议员阿兰·克郎斯敦说:“对于那些能创造未来科技的年轻人来说，这无疑是在他们的革新道路上设置了一个巨大的障碍”。 n E& @Q
10 Eliminating the capital-gains break for individuals. The committee's plan repeals the current provision that allows taxpayers to exclude from taxation 60% of the long-term profits they make when they sell stocks, real estate and other assets. Instead, such gains would be taxed as ordinary income. Doing away with the capital-gains break could hurt entrepreneurial companies like Silicon Valley's electronics upstarts, which depend on venture-capital financing. Reason: those potential backers would lose an important incentive if their profits were taxed at a higher rate. Says California Senator Alan Cranston, who plans to fight the committee's change: “It would put a tremendous obstacle in the path of the innovative young men and women who can create the technologies of the future.” _jI,)sr4ic
取消对个人退休金捐帐户赠的税款扣除。尽管纳税人个人能就帐户利息所得延期纳税，但他们不能再以捐款的方式在每年的税款中扣除最高可达2000美元的税款。委员会决定免除退休金帐户中的大部分补助费，因为政府为此今年要化去130亿美元，而且从来没有证实过这些补助能促使消费者节省下更多的钱。但是在2500亿美元个人退休金帐户中持有一大块的银行和互助基金却不想接受这个建议. 11 Eliminating deductions for IRA contributions. Individual taxpayers would no longer be able to deduct up to $2,000 in annual contributions, though they would still be allowed to defer taxes on the interest they earn on their accounts. The committee decided to wipe out much of the IRA benefit because the accounts are expected to cost the Government some $13 billion this year, and it has never been proved that they prompt consumers to save more. But banks and mutual funds, which together hold a large chunk of the $250 billion in IRA accounts, want to shoot down this part of the proposal. |\<`Ib4j
取消业务招待费的扣除。在盛行白葡萄酒和毕雷矿泉水的今天，业务经理们虽然很少再在午餐时喝三瓶马提尼酒，但他们仍然迅速积欠大笔帐单。委员会的计划只允许企业扣除80％的业务招待费而不是全部。餐馆业警告说，税改提案最终会使130万服务员、服务员助手和其他工作人员丢掉饭碗。 !N7s dY
12 Curbing the deductibility of business entertainment. Though few business executives still drink three martinis at lunch in these days of white wine and Perrier, they continue to run up huge bills. The committee's plan would allow businesses to deduct only 80% of entertainment expenses, instead of the full tab. The restaurant industry warns that the tax-reform proposal could eventually cost the jobs of some 1.3 million waiters, busboys and other workers. F2 dHH^
取消贷款利息扣除。纳税人不再允许扣除在汽车贷款，信用卡结存和其他非抵押上所得的利息．这也许会给贷方及交通工具、大设备生产商的生意带来损失。库奥柏斯与来布兰德会计事务所“税收政策”主任伊拉·萨皮罗说:“这会改变人们购买高价商品的方式。他们宁可用现金买些便宜货，而不愿借钱买贵重东西。 c~$)UND^
13 Repealing the deductibility of interest on consumer loans. Taxpayers would no longer be allowed to write off the interest they pay on auto loans, credit-card balances and other nonmortgage financing. This may bring a loss of business for lenders and the makers of vehicles and heavy appliances. Said Ira Shapiro, director of tax policy at the Coopers & Lybrand accounting firm: “It could change the way people buy big-ticket items. They may prefer to buy the cheaper item with cash, instead of borrowin.” }QcCS2)Ud
根除减免所得税的合法手段。委员会对减免所得税的手段严加限制，几乎予以根除。例如，个人不能再从其它收入里扣除不动产的投资亏损。这项规定以及其它的规定已经在房地产行业的许多部门中激起强烈反应。委员会的议案将基本上取消减免所得税的合法手段的合伙关系，因为它们经常给购物中心、公寓楼和写字楼提供资金。结果，全国住宅建筑商协会警告说，住房动工数会骤然下降。全国公寓协会预测房租不得不平均增加32.7％以弥补不能扣除的那一笔金额。但是石油和天然气开发大都可以幸免于这一新规定，原因是该产业境况不景气以及政治影响。 C'+YQ]u
14 Eradicating tax shelters. The committee put enough restrictions on tax shelters to make them all but extinct. Example: individuals will no longer be able to deduct investment losses on real property from other income. That provision, among others, has sparked an angry reaction from many parts of the real estate industry. The committee's bill would largely eliminate the tax-shelter partnerships that often finance shopping centers, apartment complexes and office buildings. As a result, the National Association of Home Builders warns of a sharp decline in housing starts and the National Apartment Association predicts that rents would have to increase an average of 32.7% to make up for lost write-offs. Tax shelters for oil and gas drilling, however, were largely spared because of that industry's dire condition and political clout. " 4K(jXq|
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很多公司认为这个新的税改提案利弊参半。例如股票经纪人会失掉很多个人退休金方面的生意，但会赢得本来属于“减免所得税的合法手段”的那一部分投资资本。汽车生产商可能因汽车贷款利息不可再扣除而蒙受一些损失，但却可以由伴随的税收减少，消费者口袋里有了更多的钱而得益：农场主们忧心如焚，因为他们失去了购买拖拉机或其他用具可享受的投资税款减免，但他们不再面对那些依靠“减免所得税的合法手段”的农业企业的竞争。 3n1;G8Nf
15 Most businesses are finding that the new tax proposal is a mixed bag of helpful and hurtful surprises. Stockbrokers, for instance, would lose IRA business but would pick up investment money that might otherwise have gone into tax shelters. Automakers might suffer a bit because car loans would no longer be deductible, but could expect to benefit from the accompanying tax cut that puts more money into consumer pockets. Farmers would mourn the loss of the investment tax credit for buying tractors and other gear, yet would no longer face competition from tax-sheltered agricultural ventures. YTX,cj#D^&
高税收的影响会通过所谓的过渡法规而得到缓解，该法规决定新法律分期生效的速度。例如，钢铁公司正在游说参议员委员会挪出55亿美元减税款中的一部分作为过渡之用。房地产公司也在这样做。全国住宅建筑商协会的顾问费洛伊德·威廉斯说：“我们所需的事情之一就是能有一个平隐的过渡法规，这样我们的同行不会突然大受打击。” :O?MSS;~
16 The impact of higher taxes will be softened by so-called transition rules, which determine how quickly the new law would be phased into effect. Steel companies, for instance, are lobbying the Senate committee to get some of the $5.5 billion in tax breaks set aside for the transition. The real estate industry is doing likewise. Says Floyd Williams, tax counsel for the National Association of Home Builders: “One of the things we want is a smooth transition rule so that people in our industry aren't hit all at once.” UcDS9f_87
从这些改革议案中获益最大的就是经济。在未来的十年间，它每年会以10％的速度递增，因为个人税率降低。消费者的消费会剌激经济增长，因为每年每个典型的纳税家庭都多出600到900美元可自由支配。有些纳税人会得到大得多的增益，特别是那些以前基本上不利用“减免所得税的合法手段”的中、高等收入者。 yAs> {6%-
17 The biggest winner from the reform measure would be the economy, which the Reagan Administration estimates would grow about 10% faster each year over the next decade because of lower personal tax rates. Consumer spending would spur the growth, since each taxpaying household should typically have $600 to $900 more disposable income every year. Some taxpayers would reap a much greater gain, particularly middle-and upper-income individuals who have largely avoided tax shelters in previous years. c9'vDTE%~
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同等重要的是，改革措施鼓励投资者把他们的决策建立在可靠的经济基础上，而不是单从税法角度来考虑。卡特总统手下的经济顾问委员会主席查尔·舒尔兹说:“该法案会结束很多因为人们竭尽全力利用‘减免所得税的合法手段’、千方百计把普通的收入转变为资本增益而正在出现的扭曲现象。”亚特兰大“公民与南方国家银行”的主要经济学家阿诺德·迪尔也同意道：“看看所有那些通过税收补贴而建造的无人租用的写字楼。” e7r -R3_
18 Just as important, the reform measure would inspire investors to base their decisions on sound economic grounds rather than tax-law considerations. Said Charles Schultze, the chairman of the Council of Economic Advisors under President Carter: “It will eliminate a lot of distortions that are going on as people put their energies simply into taking advantage of tax shelters and finding ways to convert ordinary income into capital gains.” Concurs Arnold Dill, chief economist at Atlanta's Citizens & Southern National Bank: “Look at all the empty office buildings we've built through tax benefits.” gX}8#O.K$
派克伍德的提案下个月在参议院最后表决通过前，还会受到一些说客的最后一刻的攻击。如果获得通过，该法案将送交给一个协商委员会，使之与众议院的议案协调一致。尽管前面困难重重，立法者们开始相信法案有足够的势头能顺利通过，特别是因为这么多的公司领导人都已经双手赞成。一位资深的华盛顿税收说客查尔斯·沃科预言：到七月或八月，总统桌上将有一份完备的议案待签。果真如此的话，公司上层人物处于悬而未决状态的时间就远比他们原先担心的要短得多。 19 Packwood's proposal will get a lastminute assault from some lobbyists as it heads toward a final vote in the Senate next month. If approved, the bill will go to a conference committee that will reconcile it with the House's bill. Despite those challenges ahead, legislators are beginning to think the measure has enough momentum to sail right through, especially since so many business leaders are climbing on board. Charls Walker, a veteran Washington tax lobbyist, predicts that a finished bill will be on the President's desk for signing by July or August. If so, business executives will be in suspense for a much shorter time than they had originally feared. s w oQ'
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Business of America is Business: a quotation from Speech to the American Society of Newspaper Editors, Washington, D.C., Jan 17, 1925, in which Coolidge said, "the business of American people is business." gA+qC7=p$
Calvin Coolidge: (1872-1933) 30th president of the United States from 1923 to 1929 p*
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commercial classes: people working in the business lines O67W&nz
examine: to look at a person or a thing very closely in order to find out something, e.g. My luggage was examined when I entered the airport o>i4CCU+
the fine print: a section of a document, as a contract or warranty, in smaller print, and hence harder to read than the main body; such sections often contain detailed, tersely written matter that is difficult to understand and interpret ]G= L=D^cK
the sweeping tax-reform bill: the tax-reform bill that includes many things I H&|Tcf\
Congress of United States: the legislative branch of the Federal government, composed of two houses (参议院) and the House of Representatives (众议院 ). The two houses have an equal voice in legislation, but the Senate must ratify the treaties by a two-thirds vote and confirm important presidential appointments to office, including Cabinet members, judges of Federal courts, and high-ranking officers of the armed forces. Because of this and because it is the smaller body and its members enjoy longer terms of office and virtually unlimited debate, the Senate is regarded as the more powerful of the two houses. Rz:]\jcIT/
remold: made anew x0D*U?A
be freighted with: to be loaded/ filled with, be full of; e.g. 1. The boat was freighted with coal. 2. His letter was freighted with flatters. ) 0W{]2
hunch over: sit with the back arched; e.g.: He hunched his shoulders over the desk while he was listening to the tape./ sitting hunched up in a corner m@F`!qY~Y\
figure out: to work out understanding by thinking T_
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break even: to keep a balance by neither winning nor losing #PW9:_BE
levy on: to demand and collect officially on ; e.g. Governments usually levy a relatively higher tax on tobacco and alcoholic drink. AW'0,b`v
investment tax credit: tax reduction on investment such as the purchase of equipment by enterprises （投资税减免 *NaB#;+|k`
full deductibility: completely free from taxes 0c]/ bs{}
corporate: 1. collective, shared by all members of a group; e.g.. corporate America: the United States as a whole, especially in its business sense w"|L:8
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2. related to a corporation; e.g. corporate entertainment: money consumed in the business of a corporation r~8 $1"
single out: to separate or choose from a group, esp. for special treatment or notice; e.g. We all danced well, but the teacher only singled Jane out for praise M,,bf[p$
share: the part owned or done by a person; e.g. If you want a share of the pay, you will have to do your fair share of the work (9 GWbB?
line up: to move into a row side by side or one behind the other %y[h5 *y*
in exchange for: as a return for (作为对 的交换) CL;}IBd a
Taxation and Taxes: In modern economies taxes are the most important source of government revenue. They are compulsory levies that are regularly imposed and presumably collected for the sake of the welfare of tax-payers as a whole; they are regarded as a contribution to the general revenue pool from which most government expenditures are financed. Tc:)-
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in exchange for: as a return for (作为对 的交换) }W8;= $jr
make a fuss: to make an unnecessary expression of anger or dissatisfaction over small matters (小题大做，借题发挥); IGQFtO/x
hold up: to delay; +oML&g-g_
on a roll: in successive success or luck (连连获胜中，连交好运中) `r':by0M
Reagan, Ronald W: Reagan (1911-...), a Republican, was elected President of the United States in 1980 and won a second term in 1984. fu ,}1Mq#
capital intensive businesses: industries, such as real estate agencies, steel makers, airlines etc., where a large amount of investment is needed in running the business.(资本密集型企业) :#ik. D
scot-free: without harm or esp. punishment; get off scot-free: get away without being punished or harmed n\D&!y[]F
Tax loopholes develop when tax laws create ways for taxpayers to legally avoid paying taxes on some earnings. q`a'gJx#y
Capital gains refer to increases in the value of assets such as increases in the value of stock or of other assets including securities, derivatives, or personal property .When a person sells an asset that has gained value, the capital gain is said to be realized, and the gain counts as taxable income. B{#I: Rs9
do away with: abolish; repeal; e.g. Corporal punishment in schools should be completely done away with. )m)-o4c
Venture Capital, money or capital provided for new business ventures by investors other than the original proprietor. The term is sometimes also used for capital provided to rescue or turn around a company pRp Bhm;iJ
IRA= individual retirement accounts: the deposited money KC6.Fr{
run up: to accumulate; to go up UHkMn
cost: v. to have something (money, service, labors, works etc.) as a price; Lv7(st%`
consumer loans : money borrowed by consumers from the bank to buy some expensive products such as cars, houses etc., or money consumed before it is factually owned by the credit card holder. H@>` F
credit card balances: the remaining amount of money on a credit card (信用卡余额） O+]ZyHnB
write off: to remove; to cancel 'KL0@l
big-ticket items: commodities having high price tags ]p GL`ge5
Tax shelters: plans or methods which allow one legally to avoid paying tax. :\c ^*K(9
all but: almost , nearly(几乎，差不多) e.g. The snake is all but dead in the snow. p27~>
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among others (among others things): one of, in the class of; (其中，尤其， 格外) e.g.. I like sports very much, among others, I play tennis twice a week. 4.aZ# c91_
real estate: property in land and houses (房地产) @Uvz8* b6
tax-shelter partnerships: partnerships which enables shelter from tax (避税合伙关系) 5L n,{vsv
housing starts: starting construction of housing (住房动工) Bwpq NQN
make up for : to compensate for; ,/2V t/lt
be phased into effect: be put into effect in planned phases (分阶段性地实施); 3jU&zw9
tax break: (chance of) tax deduction JFmC \
disposable income: income which can be used as one wishes 7xlkZF
reap: to get, to harvest; e.g.. Farmers are busy reaping the corn this week. o:'MpKm
reconcile with: find agreement between two things or two ideas; *:7rdzn
be in suspense: be in uncertain expectation (悬疑，悬而未决);
