The new tax bill affects smokers, drinkers, even phone users
It was called a $50 billion tax increase, and was designed in combination with spending cuts to lower U.S. deficits by $63 billion over the next three fiscal years. But if the truth-in-packaging law applied to legislation, the bill that passed Congress last week at President Reagan's urging would have to carry a different label. Something like "a bill to raise revenues largely by blocking extensive tax changes, and thus to make deficits get worse more slowly, assuming some guesses turn out right."
Perhaps the truest identification, however, would be the "Economic...
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