The 12 years of Republican reign seem, looking back, like a
constant political war over taxes, a war that will almost
certainly continue next year after Bill Clinton becomes
President. Year after year, ignoring the counsel of economists
and business executives that the wisest tax code is a stable and
predictable one, the laws were changed in important ways. It
happened in 1981, 1982, 1983, 1984, 1986, 1988, 1989 and 1990,
more frequent and detailed changes in taxes than ever before in
American history, and another new law would have been adopted
this year if President Bush had not cast a veto. Change and More
Change Income tax rates were slashed, cut again and then
increased slightly. Tax breaks to encourage business investment
and personal savings were widened, then repealed. A surtax on
the elderly to pay the cost of catastrophic illnesses was
approved in 1987 and retracted in 1988. Social Security,
Medicare and gasoline taxes went up. Corporate taxes fell.
Hundreds of billions of dollars of tax liability w