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Welcome to Florida, the land of no income taxes - and killer property taxes. Whether it's a nightmare for someone who just purchased a Florida foreclosure or a tax hike that proves the last straw for some struggling homeowner, it's bad news for the individual, and increasingly for the...

Author: /time Magazine | Title: Florida's Property Taxes Go Wacky in Housing Slump | 6/29/2009 | See Source »

The Lowdown: "It all started in Shanghai in 1909," the authors note of the dawn of narcotics regulation. And what a century it's been. What began as an opium epidemic in China has since become a global problem that includes heroin, cocaine, marijuana, amphetamines and a host of other...

Author: /time Magazine | Title: U.N. World Drug Report | 6/25/2009 | See Source »

The deal, which prevents German taxpayers' money from disappearing into the GM's all but empty coffers in the U.S., was a lifeline few Germans had expected. In the past, Chancellor Angela Merkel's conservative CDU party has steered clear of state intervention in the economy. But as the global...

Author: /time Magazine | Title: Merkel Saves Opel From GM's Fate | 6/1/2009 | See Source »

Sins of the Father The Maldives' coffers, though, are perilously low. In part that is a consequence of the global downturn, which has hit international tourism hard. The crunch was exacerbated by profligate spending in the final years of the Gayoom regime, as it sought to cement votes with new...

Author: /time Magazine | Title: The Maldives' Struggle to Stay Afloat | 5/18/2009 | See Source »

7 | Washington Targeting Tax Havens President Obama has proposed cracking down on U.S. corporations that use offshore subsidiaries to lower their tax burdens. While most nations do not tax corporate profits earned abroad, Obama says doing so would put some $210 billion in U.S. coffers over the next 10 years...

Author: /time Magazine | Title: The World | 5/18/2009 | See Source »

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