Policies affecting Taxation of Capital, 1970-1990
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   |------------------------------------------------------------------|------------------------------------------------------------|
  1970   |                |                               |    |    1980   |   |   |          |                  |                  1990                      
         |                |                               |    |           |   |  TEFRA,'82  DEFRA,'84           |
      Investment       ERISA,'74                          | Prudent    ERTA,'81|                             TRA,'86;
      Tax credits                                         | Man Rule           |                             Investment
      granted,'71                                         | Clarified          |                             Tax credits
                                                          | (DOL,404(a)(1))    |                             eliminated
                                                          |                  SEC Rule
                                                       Kemp-Roth             10b-18
                                                       Bill,'78;             on buybacks
                                                       Rev.Act '78;
                                                       IRC 401(k)




ERISA: September 2, 1974
401(K), Revenue Act of 1978: November 6, 1978
404(a), Department of Labor, Prudent Man Rule under ERISA clarified: 1979
Kemp-Roth Bill: May 1978
ERTA : August 1981
SEC 10b-18: 1982
TRA:   October 1986