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...inflation, more Americans are affected every year. If Congress doesn't act soon, about 21 million will be penalized. House Ways and Means chairman Charles Rangel has proposed a one-year stopgap fix that would exempt these middle-income taxpayers from the AMT, at a cost of more than $50??billion. The problem? In a fit of fiscal prudence, the Dems earlier this year passed a requirement mandating that Congress pay for everything it does with either tax hikes or budget cuts. Cue the proposed hedge-fund tax increase...
...difference between a $14 billion House version and a $15 billion Senate version with a $23 billion consensus bill. Defenders say it has been seven years since Congress approved flood-control projects, and House Speaker Nancy Pelosi has championed the bill. But the corps already has a more than $50??billion backlog of unfinished projects, and investigations had exposed its dysfunctional habits--wasting money, draining wetlands, cooking its books to justify boondoggles--long before its bungling drowned New Orleans. Still, corps projects are a form of currency on Capitol Hill, a way to flex political muscle even if they never...
...wasn't a perfect fit. Apple is famously secretive, surprising the market with its new products, while Nike usually informs retailers of its plans six months in advance. In this case, Nike acquiesced to the Apple way, putting Nike Plus on sale just 50??days after announcing it. The project carried code names: Nike, the goddess of victory in Greek mythology, was Victoria North, and Apple was Victoria South...
...past decade, zillionaires have entered the mega-yacht race, one-upping one another in size and cost. Yachts longer than 150 ft. (45 m) go for $20 million to $50??million. Venture capitalist Tom Perkins has beaten them all with the Maltese Falcon. The 289-footer (88 m) cost more than $100 million and is one of the world's largest, fastest sailing yachts. At up to $700,000 a week, it is also one of the most expensive charters--and you're too late. It's booked until...
...event that occasioned this headlong dash onto a banana peel was the launch just two months earlier--and 50??years ago this October--of Russia's fabled Sputnik, the world's first satellite. The U.S. reacted to the event as any mature, technologically savvy nation would, which is to say we lost our marbles. The Russians had seized the high ground of space, we cried. It would be only a matter of time before they were gliding overhead, dropping bombs on us like overripe fruit from a highway overpass...