Word: gingrichs
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Either you love them or you hate them. For the G.O.P., they are sacred. "The tax cut is the glue that holds together the coalition that balances the budget," says House Speaker Newt Gingrich. Yet to purist budget balancers, the cuts are heresy. "We see tax cuts as demagoguery. They take the public's mind off the real issue of sharing the sacrifice," says Michael Holtzman, director of the New York office of the anti-deficit Concord Coalition...
...that neither Republicans nor Democrats dare to abandon: the pleasure principle. It rests on two basic premises. The first is that if you make voters happy, they repay the kindness at election time. The second is that the fastest way to their hearts is through their wallets. As Gingrich put it in November, "No politician in the 20th century has been defeated for cutting taxes...
...capital gains tax and a plan to make individual retirement accounts available to higher-income earners. For big business, it cuts the alternative minimum tax, which requires corporations to pay at least some tax even when they find enough deductions to offset their tax liability entirely. To Gingrich, the cuts also have a kind of world-historical psychological value. "You have to cut taxes,'' he says, "as a way of rewarding people for going through the process of change...
...Army Reserve Captain Lynda Davis has been released from active duty in the Bosnia peacekeeping mission because of unspecified heart and blood problems. The wife of Newt Gingrich's press secretary Tony Blankley, and the mother of two small boys, Davis reported to Fort Benning last Thursday in preparation for shipping out to Germany, and possibly, Bosnia. Davis, a public relations executive who would perform similar duties for the Army, said today that she has been very ill for three months. She added that while she cannot serve in uniform at this time, she would like to help soldiers...
...COUP OF THE YEAR: The Colin Powell presidential campaign/book tour. Runner-up: The Newt Gingrich presidential campaign/book tour...