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From: jld@ulysses.UUCP (Jeff David)
Newsgroups: net.taxes
Subject: Tax Bill
Message-ID: <1347@ulysses.UUCP>
Date: Fri, 1-Aug-86 13:55:59 EDT
Article-I.D.: ulysses.1347
Posted: Fri Aug  1 13:55:59 1986
Date-Received: Sat, 2-Aug-86 00:41:49 EDT
Distribution: na
Organization: AT&T Bell Laboratories, Murray Hill
Lines: 16

The August 4 issue of Fortune has an excellent discourse concerning what
is wrong with the new tax bill.  It hits the Big 4 issues, namely

		1)  The hidden 32% bracket in the Senate bill
		2)  The delay of the rate cuts 6 months after killing
		    the deductions
		3)  Killing IRA's
		4)  Pointing out that the small investor takes a much
		    bigger hit on LT Capital Gains than the rich.

The article also waxes philosophically about depreciation/corporate minimum
tax and loopholes that remain in the law.  This is recommended reading.

					Jeff David

P.S. It is on page 150 of this issue