Nation: Hasty Retreat

Congress fears a tax revolt courageous act," declared Jimmy Carter last December when Congress voted to hike Social Security taxes by $227 billion over the next ten years, the largest peacetime tax increase in U.S. history. Said House Speaker Tip O'Neill approvingly. "If I've ever seen an issue that's a Democratic issue, this is it."

Since then, angry constituents have deluged Congressmen and Senators with phone calls and mail, and now the legislators' courage is running out, particularly among those up for re-election this fall. Last week, in a sudden about-face, the House Speaker...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!