THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Saturday, February 24, 1996 TAG: 9602240373
SECTION: FRONT PAGE: A2 EDITION: FINAL
SOURCE: By Elizabeth Kolbert
NEW YORK TIMES
LENGTH: Short : 45 lines
ILLUSTRATION: GRAPHIC
STEVE FORBES
Birth: Morristown, N.J., July 18, 1947.
Education: Princeton University, B.A., 1970.
Residence: Bedminster, N.J.
Military: None
Experience: Chairman, Board for International Broadcasting (Radio
Free Europe and Radio Liberty), 1985-93; president and chief
executive officer of Forbes Inc., 1990-present.
Family: Wife Sabina; five children.
Forbes' message of ``growth, hope and opportunity'' is
inextricably bound to his flat tax. The plan would abolish all
deductions, raise personal exemptions and tax only wages, at a 17
percent rate.
He argues that his ``deep and wide and permanent'' tax cuts would
unleash economic growth. And by wiping out tax breaks, he argues,
special interests would have less reason to lobby or make big
campaign contributions.
Forbes favors term limits for Congress and the creation of
tax-favored medical savings accounts. He is the only candidate to
suggest big changes in Social Security, offering the idea of
maintaining the current system for current beneficiaries and people
12 to 15 years from retirement, while allowing younger workers to
use some of the payroll tax for private accounts.
Source: Knight-Ridder News Service
KEYWORDS: PROFILE BIOGRAPHY PRESIDENTIAL RACE by CNB