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THIS ARTICLE STATES THAT THANKS TO THE PHONOMNON OF "TAXFLATION," THE FEDERAL GOVERNMENT HAS ENJOYED AN ENORMOUS REVENUE WINDFALL, AMOUNTING TO TENS OF BILLIONS OF DOLLARS ANNUALLY. BECAUSE OF INFLATION, A TAXPAYER WHO EARNED $10,000 IN 1970 NEEDED $20,000 IN 1980 JUST TO KEEP PACE. BUT WHILE HIS PURCHASING POWER STAYED EVEN, HIS LARGER NOMINAL INCOME PUT HIM IN A HIGHER TAX BRACKET, MEANING A LARGER PERCENTAGE OF HIS EARNINGS FOR THE GOVERNMENT, A SMALLER PERCENTAGE FOR HIMSELF.

THE AUTHOR EXAMINES SOME WIDELY ACCEPTED CONCEPTIONS OF THE REAGAN ECONOMIC PROGRAM & FINDS INSTEAD: IN THE 1981 SESSION OF CONGRESS, PRES. REAGAN & A BIPARTISAN COALITION DID NOT ACHIEVE A COUNTER-REVOLUTION IN USA POLITICS; THE TAX CUT WAS A ROLLBACK OF A SERIES OF TAX INCREASES IMPOSED OR TO BE IMPOSED; CUT IN FEDERAL SPENDING PERTAINS TO INCREASE PROPOSED BY CARTER BUDGET. SPENDING IS'NT CONTROLLED.

WHAT YOU ARE ABOUT TO READ WILL SURPRISE YOU. IT WILL MAKE YOU WISER. AND IN SOME PLACES IT WILL MAKE YOU MAD. POLICY REVIEW ASKED 13 LEADING CONSERVATIVES TO COMMENT ON SOME OF THE MOST EMOTIONAL SUBJECTS IN AMERICAN POLITICS AND SOCIETY TODAY. ABORTION. HOMOSEXUALITY. SCHOOL PRAYER. MOTHERHOOD. DIVORCE. CHILD ABUSE. WE ASKED FOR PRACTICAL ADVICE ABOUT HOW TO DEAL WITH DEFIANT TEENAGERS AND PREGNANT, UNMARRIED WOMEN. AND WE ASKED ABOUT THE PROPER ROLE OF GOVERNMENT IN REGULATING MORAL CONDUCT. THE PARTICIPANTS REFLECT THE DIVERSITY OF CONSERVATIVE THOUGHT-FROM NEOCONSERVATIVE TO NEW RIGHT, FROM TRADITIONALIST TO LIBERATRIAN. AND THEIR ANSWERS REVEAL ASTONISHING DIFFERENCES EVEN WITHIN THESE CATEGORIES, ON ISSUES SUCH AS ABORTION, HOMOSEXUALITY, AND WHETHER MOTHERS OF YOUNG CHILDREN SHOULD WORK. THE ONLY QUESTION ON WHICH ALL PARTICIPANTS SEEM TO AGREE IS ON HOW TO INTERPRET THE ESTABLISHMENT CLAUSE OF THE FIRST AMENDMENT: JUST WHAT IT SAYS.