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Opinion is mixed about whether tax that primarily targets the rich would solve today's debt problems. "Once the marginal rate exceeds 40%, you get high levels of tax avoidance and evasion," says Daniel Feenberg, an associate with the National Bureau of Economic Research in Cambridge, Mass. (See the best business deals...

Author: /time Magazine | Title: How High Could the U.S. Tax Rate Go? | 3/3/2010 | See Source »

...course, investors' nerves are based on the idea that a clear election winner would create the best conditions for tackling that treacherous shortfall. While it's a reasonable assumption, it's hardly foolproof. Prime Minister Gordon Brown has little credibility left when it comes to the economy following his stint as Britain's free-spending Finance Minister in the decade leading up to the financial crisis. And although the Conservatives have pledged immediate cuts to the deficit should they win, they're still light on detail. (See a Q&A with Gordon Brown...

Author: /time Magazine | Title: Pound Woes: Why Britain's Currency Is Falling | 3/3/2010 | See Source »

...best pictures of the week...

Author: /time Magazine | Title: Titanic vs. Lusitania: How People Behave in a Disaster | 3/3/2010 | See Source »

...that even when we communicate via e-mail, we may be more inclined to lie or distort if the lights are low than if the room were filled with sunshine. Perhaps the next time you - or your kids - sit down at the computer to chat or text, it's best to raise the blinds and insist that the person on the other...

Author: /time Magazine | Title: Why Shady Deeds Are More Likely to Happen in the Dark | 3/3/2010 | See Source »

Civil libertarians condemn the Patriot Act for unconstitutionally curtailing the right to privacy. However, as no such right is explicitly enumerated in the Constitution, this protection is at best controversial. We readily acknowledge that the Patriot Act’s provisions necessarily curtail privacy, but we strongly reject assertions of its illegitimacy...

Author: By Karthik R. Kasaraneni and Dhruv K. Singhal | Title: Nothing to Hide | 3/3/2010 | See Source »

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