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...example, a user in Memphis, Tenn., is looking to trade a new pair of boots for a kitchen faucet. But there's a complication to all this happy swapping: the IRS views bartered goods and services as reportable income. The agency has even set up the Bartering Tax Center. So does everyone need to report every little swap? "There are no tax implications for the type of bartering happening on our site," says Carl Schwartz of Swaptree, which trades only books, CDs, video games and DVDs. The rule of thumb, according to the IRS: if you're bartering something...

Author: /time Magazine | Title: I'll Trade You My Tax-Code Knowledge ... | 3/1/2010 | See Source »

Distrust of government is as old as the Republic. In fact, it's in some ways the basis of the Republic; the framers took great pains to dilute and spread out the powers of the central government. They did not want an overweening concentration of power at the center of our national life. At the same time, they arrived at those checks and balances through a spirit of compromise--something that's notably absent today in Washington. On the final day of the Constitutional Convention in 1787, Benjamin Franklin noted that every member should "doubt a little...

Author: /time Magazine | Title: Our Broken Government | 3/1/2010 | See Source »

Weight-Loss Boarding School When marathon runner and educator Ryan Craig opened Wellspring Academy in 2004, it was the only residential obesity-treatment center of its kind. (Others existed mostly in clinical settings.) A former board member of the Aspen Education Group - one organization behind those wilderness programs for troubled teens - Craig learned about the staggering U.S. obesity rates and saw an enormous untapped market for a weight-loss school...

Author: /time Magazine | Title: Does Obesity Rehab for Kids Work? | 3/1/2010 | See Source »

Aside from regular academic classes and sessions with staff therapists, kids participate in simple exercise routines like walking 10,000 steps (5 miles) each day. The school's weight-loss program was designed by Northwestern University Medical Center professor Daniel Kirschenbaum, who used to run a number of clinical obesity programs in Chicago-area hospitals. Students are served three perfectly proportioned meals a day and are asked to note everything they eat in a journal. Calorie and fat counts are displayed on a whiteboard in Wellspring's cafeteria, making it easy for kids to copy them down. The diet, which...

Author: /time Magazine | Title: Does Obesity Rehab for Kids Work? | 3/1/2010 | See Source »

...Iran is moving toward a military dictatorship," said U.S. Secretary of State Hillary Rodham Clinton in Qatar on Feb. 15. It was the Obama Administration's bluntest statement yet against Iran's Revolutionary Guards, which many now believe to be the nation's true power center. Her comments came as the U.S. continues to push for new U.N. sanctions against Tehran, which recently announced it would enrich uranium to higher levels, reinforcing suspicions that it intends to produce nuclear weapons. To prevent such an outcome, Clinton said, the U.S. is focused on both "engagement and political pressure...

Author: /time Magazine | Title: The World | 3/1/2010 | See Source »

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