All of those things expiring is in our projection.
"Donald B. Marron" is an American financier, private equity investor and entrepreneur, notable as the chairman and chief executive officer of brokerage firm Paine Webber from 1980 through the sale of the company in 2000, as well as the founder of private equity firm Lightyear Capital and of Data Resources Inc.
More Donald Marron on Wikipedia.This is a current law projection, not a forecast.
There's a significant amount of uncertainty about what's going to happen with the various tax provisions that are scheduled to expire and what's going to happen with the alternative minimum tax. Depending on how those issues turn out, our projections would obviously have to change.
The program appears to be bankrupt.
It is true that the capital gains realizations have been very strong. Connecting that strength specifically to the tax reduction is a challenge because of the other things that have happened in the economy. [In order to do] that I'd have to plead the need for more research.
In principle, it may be possible to deliver a higher amount of fiscal aid to state and local governments at a lower cost to the federal government if such aid is delivered as an outlay instead of as a tax preference.
In 1990, we said the '90s were going to be the decade of the individual.
After those several years of great growth, people's expectations have been very high - probably too high. And at the first sign of a slowdown they react they other way.
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