Copyright 1997 Robert L. Sommers, all rights reserved.
Politicians shower voters with tax goodies Tax loopholes are back in.
Tax simplification and fairness are out. In the battle to bestow tax breaks on their constituencies, Republicans and Democrats both shouted victory last Monday. President Clinton became Santa Claus to the middle-class, while Speaker Gingrich showered the wealthy with capital gains cuts. Winners and losers Investors with large capital gains may claim victory under the accord. Small business or farm owners, and those with complicated estates, will enjoy unprecedented estate planning opportunities.