1.   Bill Clinton wants to guarantee the right through tax preferences and other subsidies.

2.   All tax preferences -- including the tax exemption on municipal bond income -- would be eliminated.

3.   But executives caution that those changes will take time, and they note that the loss of the tax preferences coincides with other pressing problems.

4.   Manufacturers with overseas outlets would no longer have tax preferences.

5.   One way to accomplish this was to restrict AMT tax preferences.

6.   Roth also decided to expand existing capital gains tax preferences designed to encourage investment in small businesses to corporations.

7.   Several tax experts said that Klaassen had little chance of success in the courts because the statute treating children as tax preferences was clear.

8.   So you have to deal in tax preferences.

9.   Tax preferences for foreign investors have been scaled back.

10.   That could make a flat tax politically untenable -- and save lots of less widely used tax preferences like the exemption for municipal bond income.