"... analyzes the rules that limit the deductibility of loss from an activity to the amount with respect to which a taxpayer is 'at-risk.' Congress enacted the at-risk rules in response to the widespread use of nonrecourse debt to create tax losses in excess of a taxpayer's actual cash investment in an activity."
I read the actual debates a few years ago. At the time, there were a number of things from the debates that I just didn't understand too well. I may have to go back and re-read them now that I have a better sense of the background for some of the topics.
In all, the book was well written. There were a few places where I found myself thinking it was a bit 'dry', but the latter chapters were quite interesting. If you want to know more about the debates (but don't want to actually wade through the transcripts of the debates), then this is the book for you.
Mr Guelzo does not "rewrite" history to meet today's social standards; he has crafted a book painting each man as they were seen, not as we would like to view them in hindsight. Interestingly, the author includes a side-by-side chart comparing each debate listing each accusation or claim made by one man and if applicable, a refutation or denial. Think sports box scores!
The epitome of "inside politics," this book may not be interesting to the average reader who tires of political infighting. One thing it does prove: politics never change. Just as today, over a century ago, candidates played fast-and-loose with the facts, resorted to personal attacks and plied the electorate by exaggerating fears.
Originally reviewed BN.com November 29, 2010
The only thing I didn't like was the very end of the epilogue; I felt it got a bit overblown. I was with Guelzo right up until about the last two pages when he tried to tie the Cold War and 9/11 into everything. I am ALL ABOUT how the past informs the present but it was ham-handed, the nuances are much more subtle. If you are doing your job right when writing a history book, your audience is already thinking these thoughts on their own.