30 December 1996
Dear Survivor of Election Promises:
Having completed another season of political pontificating, we can all now comfortably settle into the post election ritual of promise denial. From the oval office down to city council chambers across the county, elected officials are raising equivocation to a new art form.
Considering some of the promises made in the closing days of the election, I am not sure this is a bad thing. Let's face it, if they ever gave us everything they promised, our great-grandchildren would be working well into their 90's to repay the debt.
Still, I did ask Santa for some capital gains relief. After all, Bob promised it and I understood Bill said he would deliver if they would just stop picking on his wife. We have it on good authority (none other than Mortimer Snerd, the famous tax accountant) the capital gain legislation will pass in 1997. We won't hold our breath, though. The fact is, we have been holding it waiting for the stock market to take its long overdue correction.
Wouldn't it be an odd coincidence if capital gain relief and a 20% drop in the stock market came at the same time? Just a thought.
Well, I hope your holidays have been great and 1997 finds you and your loved ones joyful for all the blessings we are lucky enough to take for granted.
This letter comes with our best wishes and hopes for a joyful year ahead.
Best regards,
Timothy F. Terry
TFT/lsn