Read My Lips: No New Taxes

Octavo, [6], 159pp, [3]. Blue cloth, gilt titles on spine and front board, with gilt signature on front cover. Limited edition of 175 signed copies and 26 lettered copies, signed by former President George H.W. Bush. This is limited edition number 170 of 175, signed by President Bush on the half title. In November 1990, President George H. W. Bush signed the Omnibus Budget Reconciliation Act of 1990, which raised several taxes-including increasing the top individual income-tax rate from 28 percent to 31 percent, raising the alternative minimum tax, and tightening high-income itemized deductions and exemptions-as part of a deficit reduction compromise. The decision directly contradicted his 1988 campaign pledge, "Read my lips: no new taxes," frustrating many conservatives and damaging his credibility. This reversal became a central issue in the 1992 presidential campaign, where Democratic challenger Bill Clinton used it to question Bush's trustworthiness, and many analysts cite Bush's broken promise as a major factor in his defeat to Clinton.…