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...reach 10% this year. Most of the people out of work will be those who earned between $25,000 and $75,000 a year, not the rich. Most homeowners are just that - regular middle class workers. People living on relatively fixed incomes usually do not have the resources to cover their daily expenses for a long time if they lose their jobs or suffer a drop in their earnings. The one thing of value that they had, their home, may currently be worth less than it was 20 or 30 years ago. The wealthy at least have opportunities to make...

Author: /time Magazine | Title: During a Recession, Being Rich Loses Its Luster | 5/8/2009 | See Source »

...Local tax authorities that rely on property taxes to cover most of their needs will probably have more trouble than the federal government. In many municipalities, property taxes are the primary source of revenue for schools and local services. Rising foreclosure rates on the most valuable homes will eviscerate local tax bases. The municipalities will only have one place to turn ultimately and that is to the federal government...

Author: /time Magazine | Title: During a Recession, Being Rich Loses Its Luster | 5/8/2009 | See Source »

...Jack, it wasn't a political tactic," recalled his campaign manager, Wayne Berman, who accompanied Kemp that fall to inner-city communities from South Central Los Angeles to the South Side of Chicago. "It was real. He'd say, 'We're going to change minds.'" (Read the TIME Cover Story: "Dole, Kemp and the G.O.P...

Author: /time Magazine | Title: Jack Kemp: Running a Very Different Republican Race | 5/8/2009 | See Source »

...current television show, Hablando Con Padre Alberto (Talking With Father Alberto), airs on the conservative Catholic network EWTN (Eternal World Television Network), which was founded by the engaging but dogmatically stern nun Mother Angelica. Last December Cutié blasted Playboy's Mexican edition for what he called a "blasphemous" cover photo that depicted a model as the Virgin Mary. On his shows on the Radio Paz (Radio Peace) network and in his columns and books, like Ama de Verdad, Vive de Verdad (Real Love, Real Life), Cutié usually toes the Vatican's doctrinal line on issues like abortion...

Author: /time Magazine | Title: The Father Cutié Scandal: Sex and the Single Priest | 5/7/2009 | See Source »

...liked their current health-care coverage, they could keep it - that is, the system would remain a private one, presided over by a more strictly regulated insurance industry. And in the months since the election, the insurers have indicated that they will play ball: they've said they will cover everyone, at the same rate, regardless of pre-existing condition. (There are caveats: the details of health insurance are devilish, and pitched battles are fought over arcana too obscure to cover in this space.) But more-liberal Democrats have decided to press the issue. They have proposed a "public" health...

Author: /time Magazine | Title: The Fire This Time: Is This Health Care's Moment? | 5/7/2009 | See Source »

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