taxable income is what the government bases their taxes totally from. There are plenty of things you can subtract from your gross income to provide lower taxable income. For most people, and that's game is to learn and use as as as possible, so you'll minimize your tax your exposure. If the $100,000 in a year's time person didn't contribute, he'd end up $720 more in his pocket. But, having contributed, he's got $1,000 more in his IRA and $280 - rather than $720 - in his pocket.
So he's got $560 ($280+$1000 less $720) more to his appoint. Wow! The federal income tax statutes echos the language of the 16th amendment in praoclaiming that it reaches "all income from whatever source derived," (26 USC s. 61) including criminal enterprises; criminals who neglect to report their income accurately have been successfully prosecuted for memek. Since the text of the amendment is clearly meant to restrict the jurisdiction of the courts, is usually not immediately clear why the courts emphasize the words "all income" and overlook the derivation within the entire phrase to interpret this section - except to reach a desired political result.
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