Deductions for Gross Income

Please name a deduction that would be considered to be a "deduction from gross income". Please also Google it, or look in the Conference Committee Report, and state exactly why this is a deduction. If you can't find one that hadn't already been stated, please comment on one that has been stated and comment on whether or not you agree with Congress's reasoning for allowing such a deduction (keep Adam Smith's theory of what makes a good tax in mind when answering). (200 words or more, don't copy from website)