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Focuses on the taxation of the income of U.S. President Richard Nixon. Announcement that Nixon would pay the taxes he owed to Internal Revenue Service and the Senate-House Joint Committee on Internal Revenue Taxation on his income during the first four years of his presidency; Information about the gross income of the president during that period; Details of deductions for a gift of his pre-presidential papers to the National Archives; Information about the valuation of donated papers by a professional appraiser.

Presents the investigation of taxes by U.S. President Richard M. Nixon. Overstatement made by the Nixon; Discussion of the donation of papers with former U.S. President Lyndon Johnson; Efforts of the Congress to close the tax loophole that allowed for the donating of deductible papers; Overview on the investigation; Estimation of the amount of possible deduction on tax returns of Nixon for four year, 1969 to 1972.

Focuses on taxation patterns in the U.S. Criticism of President Richard Nixon for his claim of reduction of 25 percent on the depreciation of his New York cooperative apartment house, 25 percent of the depreciation of his San Clemente house, 100 percent for a house at Key Biscayne next to his residence, and $576,000 for a backdated donation of vice presidential papers; Increase in the number of rich people escaping income taxes; Information that workers have no choice but to spend higher proportion of their income on food, fuel and shelter.

Presents news briefs on tax issues in the U.S. as of July 13, 2004. Efforts of former Illinois Senator Paul H. Douglas to solve loopholes in the tax laws; Amount of income tax paid by oil companies; Information on the Republic Papers edited by Representative Melvin R. Laird which deals with income taxes and family allowances.