Addicted to the Loophole Habit: Reagan's tax plan

Reagan's tax plan is being gutted even before its unveiling

Persuading Congress to adopt tax reform is not unlike treating addiction. ( Congressmen have become so dependent on trading tax breaks for political favors from special interest groups that the only way they can stop now is to go cold turkey. For a Congressman to say he can make an exception for one lobbyist but not another is like an alcoholic swearing he can take just one drink.

When President Reagan announces his tax-reform package in a nationwide speech scheduled for next week, he will call on Congress to shun the influence peddlers and approve a program that is both simple...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

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