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Andrew HeiskellAndrew Heiskell
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Session:         Page of 824

Q:

It's a hand written note, we might note.

Heiskell:

A hand written note.

Q:

What's the date on that?

Heiskell:

I've got to look on the outside--April 30. Pretty fast return mail. Then I had an address I could send things to that get things to her. So I wrote back saying, “Dear Nancy how very thoughtful of you to write me that lovely note as you took off for your latest voyage. I was of course happy to see public confirmation of your word in the papers day before yesterday. Your flamenco[?] was real stylish, as I see in the color pictures in this week's TIME. Many thanks and best wishes.” That was May 13. I found that rather surprising. In effect, that's what has a lot to do with changing Treasury One into Treasury Two. Treasury Two was the second tax reform act, which appeared to be an enormous improvement over Treasury One until somebody discovered in the small print at the bottom that there was a thing called “minimum tax.”

[End Cassette One, Side One]

[Begin Cassette One, Side Two]

Heiskell:

Which, in effect, taxed all gifts of appreciative property at a twenty-eight percent rate. So, the victory was not as complete as I thought it was.





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