Balanced Budget Bargains?

The word is out: President Clinton has reached an agreement with Congress to balance the budget by the year 2002. Included among the budget's many pro-business provisions are teh following:

Gradually increase the value of an estate exempt from taxation from the current level of $600,000 to $1 million over about 9 years. Family-owned businesses and farms will be awarded a $1 million exemption starting in 1998. Reduce the top individual capital gains tax rate from the current 28 percent to 20 percent. A $500-per-child tax credit for single taxpayers earning less than $75,000 and couples earning less than $110,000 per year. No independent contractor provisions are forthcoming.