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Budget Deal

May 18, 1997

Republicans get cuts in the capital gains and estate taxes and Democrats get increases in social spending, including an expensive new program to provide health insurance to poor children. With the booming economy expected to supply new revenue, all the hogs are lining up at the trough.

Meanwhile, those in the middle, earning too much money to qualify for government benefits but taxed too heavily to accumulate capital, get nothing except the tab for all of this.

PHILLIP A. PARRA

Pasadena

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