The Republicans, led by Newt Gingrich, had just taken control of the House of Representatives for the first time in forty years, and tax cuts were a big part of their "Contract with America." But they were far from the only tax-cutters: President Clinton, House Majority Leader turned Minority Leader Richard Gephardt, Senator Phil Gramm--all God's chillun had tax-cut plans. This show, no less technical than its predecessor, brilliantly clarifies the points at issue: across-the-board versus targeted cuts; the capital-gains tax; spending and the Balanced Budget Amendment. RK: "As that well-known Bolshevik Herb Stein, Nixon's former chief economist, wrote in this week's New Republic, you could have a deficit of 2.5 per cent of the gross domestic product forever, and as along as the economy was growing faster than the deficit, it wouldn't be a problem. So I think this balanced-budget mania is absolutely counterproductive."