He's also drawing up plans to ask companies to allow employees to contribute by payroll deduction to any Giving Back subaccount.

FORBES: Savior To The Stars

Once in the subaccount, the money is invested and can grow tax-free until the couple designates eligible groups to receive it, at which point there isn't any deduction.

WSJ: Charity: Deduct Now, Give Later

In his budget, the President proposed slapping taxes on new sales of variable annuities. (People who already own annuities will have a one-time opportunity to switch from one variable contract to another, tax free.) Clinton's levies include taxing income and capital gains if the holder transfers assets from one subaccount (a mutual-fund-type account) to another.

FORBES: Fact and Comment