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Colin Powell says he's stillconsidering a run for president next year, possibly as an independent, after he finishes writing his autobiography in September. "I've checked the Constitution very carefully, and you do not have to belong to a political party," the popular former Joint Chiefs of Staff chairman told an audience of 3,200 people at Salem State College Tuesday night. Can he afford to wait? GOP primary contenders are racing to compete now for campaign money and talented staffers. But as an indy,TIME political contributor Laurence Barrettsays, Powell would have little trouble getting on the ballot...

Author: /time Magazine | Title: THE HAMLET OF '96? | 4/5/1995 | See Source »

...scope of the $500-per-child tax credit, an enormous tax break for the wealthy would still loom. Democrats charge that more than 50% of the remaining $85 billion in tax benefits in the contract would still go to the 10% of families whose incomes exceed $100,000. The Joint Committee on Taxation estimates the $19 billion cut in capital-gains tax would average only $26.05 for taxpayers earning less than $100,000 but would mean an average reduction of $1,223.23 to those earning more. "It is just plain wrong," said House minority leader Richard Gephardt, "to give...

Author: /time Magazine | Title: THE REBELS WITH COLD FEET | 4/3/1995 | See Source »

...Texas haul is also made up of money mostly owed to welfare mothers. The joint state/federal enforcement program was originally founded, in part, to defray the costs of Aid to Families with Dependent Children, and the states can still use the money they collect in welfare cases for that purpose. Funds recovered on behalf of nonwelfare mothers, however, simply get passed on to them. The result, says Sue Anderson, a Minnesotan who spent years trying to collect from her ex, is "if you have any sort of income, [the states] don't give you the time of day." Some...

Author: /time Magazine | Title: DUNNING DEADBEATS | 4/3/1995 | See Source »

...have much sympathy with this attitude, though most realize that direct demands for restitution will simply be rejected. "It was by no means necessary to transport the artworks to the Soviet Union for conservation," protests Werner Schmidt, general director of the Dresden State Art Collections and chairman of the joint Russo-German commission deliberating on the mutual return of art loot. In 1955, when the Russians returned paintings to the Dresden Gallery (in communist East Germany), they made a huge, face- saving fuss over the allegedly terrible state in which these treasures had been found...

Author: /time Magazine | Title: THE SPOILS OF WAR | 4/3/1995 | See Source »

...Matsushita Electrical Industrial Co. The Times reported that Du Pont is expected to announce a buyback of its shares from Seagram within two weeks. TIME Los Angeles correspondent Jeffrey Ressner expects Seagram to face stiff competition in its quest for MCA from Polygram, which already has entered a joint filmmaking venture with MCA, positioning itself as a potential purchaser...

Author: /time Magazine | Title: SEAGRAM MAY BUY MCA | 4/3/1995 | See Source »

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