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Bush's Special Savings Accounts

October 12, 1988

If an award were available for the masterful art of giving something to the American people without giving anything whatever, then Bush is the hands-down winner for all time.

At first I thought our vice president's new savings idea to be a clever spoof. But now I believe he's serious. Let us, for the moment, examine his idea.

First, we deposit $1,000 into a special account which we don't touch for five years.

Second, we can extract about $12 of deferred taxes. (Enough to pay for three hours of parking in downtown Los Angeles.)

Third, after five years, we may retrieve our $1,000 plus accumulated interest--at which time we are taxed on the interest plus the original $1,000 at likely a higher rate than five years prior. Wow!

LESTER KUSHNER

North Hollywood

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