Word: tax-cutting
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...with his six-year sidle into the heart of what was once a Republican fiscal conservatism, but it was Mr. Greenspan, with arms akimbo and foot a-tapping, who was waiting for the president when he got there. In 1992 Greenspan told Clinton in un-opaque terms that the tax-cut inauguration party Clinton was planning would immediately be met by a punitive/precautionary hike in interest rates. Clinton listened -- Greenspan, after all, had just rate-hiked George Bush right out of office (at least that?s how Bush tells it). Clinton?s economy-stupid presidency has charted a course...
...Congress on a showdown with Bill Clinton over tax cuts. The challenge will be getting to the big game in one piece. As the GOP leadership gets ready to stampede a massive cut through the Senate this week, they?ll be stepping on the toes of not only the White House and the majority of economists, but some moderate members of their own party ? just like the House leadership did last week. Rhode Island Republican John Chafee is leading a handful of fellow moderates and Democrats who want to split the tax-cut difference between the White House ($250 billion...
...about their right flank since Reagan invited ultra-conservatives into the tent, and running hard to the center since Bob Dole fell flat in 1996. Impeachment, as America shrugged all the way on its descent into Bill Bennett?s cultural hell, may have sealed the deal. Pragmatic governors and tax-cut hawks are the party stars, and social conservatives are simply not welcome on the national stage. Among the spurned, there has been plenty of disappointed talk, but only someone as crotchety as Smith has the chutzpah to leave the GOP tent for the lean-tos of a Reform party...
...Security first" and "Save the global economy" -- may be mutually exclusive. Even more ironic is that the tax-cut-peddling Republicans, who won't even chip in a lousy $18 billion to save the IMF, seem to be more global-minded than they give themselves credit for. But the tax-cut plan faces opposition from the last world leader with enough credibility left to kill it: Alan Greenspan, who single-handedly bullied Clinton into fiscal discipline six years ago. The Fed chairman is worried enough about inflation, now that he's cutting interest rates; he's not about...
...With tax-cut fever running high, you may be surprised to learn that two popular estate-planning goodies could disappear as early as this fall. For most it won't matter because the $625,000 lifetime exclusion ($1.25 million if married with a bypass trust) and the ability to give as gifts as much as $10,000 per person per year provide adequate shelter from estate-tax rates that can rise to an onerous 55%. But if the bull market has swelled your estate to $1.5 million or more, consider these tax breaks now--before they vanish...