Chances for major tax reduction next year.

Kiplinger Tax Letter, The, November, 1998

Chances for major tax reduction next year are slim, slim to none, as a result of the recent election and scheming for the next one in '00.

Tax cuts could pass the new Congress, though that's not certain.

But the President won't sign the bill, and his veto would stick.

Social security is the primary reason. Medicare is another.

Repairing them for at least a decade or two will come first.

Clinton and Democrats in Congress will see to that...will continue to cite the need to fix social security as a reason to defer big tax cuts.

But prospects for mending social security are minimal at best.

Meaningful presidential leadership is needed to reach a consensus, a detailed proposal...more than saying we need to...

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