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...Perot takes direct aim at the wealthy and the upper middle class by increasing a host of income taxes. His proposals range from raising the top bracket to limiting interest deductions on home mortgages. Economists call such tax hikes "progressive" because they increase the burden on those with the ability to pay. And some well-heeled executives say they would go along with the program. Declares Dan Cotter, chief executive of the True Value hardware store chain: "If someone came into the presidency and said, 'I need x amount of increased taxes for the next two years...

Author: /time Magazine | Title: Shock Treatment | 10/12/1992 | See Source »

...COMPLAINTS THAT AMERICAN PRESIdential campaigns are far too long, lingering like a chronic disease over the lion's share of two years, the country has suddenly found itself experimenting -- unexpectedly -- with what amounts to a one-month contest. For it was only last week, with Ross Perot's second coming made official, and with an agreement on televised debates at last achieved, that Campaign '92's full dynamics were in place...

Author: /time Magazine | Title: The 33-Day Three-Legged Race | 10/12/1992 | See Source »

...Perot, though much diminished by his quixotic behavior during the summer, managed to manipulate events like a master puppeteer. He invited top advisers of George Bush and Bill Clinton to Dallas, where they pitched their respective candidate's policies to Perot's centurions, some of whom are on his payroll. Three days later, the mercurial billionaire announced that his followers around the country, having found Bush and Clinton wanting, were demanding his active candidacy. Perot twanged that he was "honored to accept their request." Then he introduced his running mate, retired Vice Admiral James Stockdale ("a hero's hero...

Author: /time Magazine | Title: The 33-Day Three-Legged Race | 10/12/1992 | See Source »

...Perot's program presumably will get a full airing in the televised debates agreed to at week's end by Clinton's and Bush's agents. There will be three encounters of the three contenders between Oct. 11 and 19. The vice- presidential nominees will meet once...

Author: /time Magazine | Title: The 33-Day Three-Legged Race | 10/12/1992 | See Source »

...Perot's move and the debate deal prompted a cloudburst of speculation about how they would affect the race. In fact, a plausible scenario could be made for just about any result other than a Perot victory. Never before in the media age has an independent candidate had the money to match the major-party candidates in broadcast advertising. Never before have there been three televised debates so close together. The impact of these firsts cannot yet be calibrated. Together, however, they just might serve to focus attention on important issues, like the economy, rather than on the incessant assaults...

Author: /time Magazine | Title: The 33-Day Three-Legged Race | 10/12/1992 | See Source »

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