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...element of confusion, if not contention, is the tax bill due on dramatically discounted homes bought at foreclosure auctions. Those purchases, which represent about 40% of new home purchases in Florida now, are driving any home-sale revival the U.S. is seeing (even if they also help drive down surrounding home prices). But in many if not most cases, people buying foreclosed homes have budgets "that can afford the taxes on a $100,000 house but not necessarily a $400,000 house," notes Brian Paul, CEO of the Realtors Association of the Palm Beaches. Of course, Palm Beach County executives...

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

...have the authority and accountability to make sure that consumer-protection regulations are written fairly and enforced vigorously. Consumer protection will have an independent seat at the table in our financial regulatory system. By consolidating accountability in one place, we will reduce gaps in federal supervision and enforcement, drive greater clarity in the information consumers receive around products they are sold, set higher standards for those who sell those products and promote consistent regulation across the system...

Author: /time Magazine | Title: Geithner Q&A | 6/29/2009 | See Source »

...National Association of Manufacturers, among others - say cap and trade amounts to a massive tax on U.S. energy, which mostly still comes from carbon-intensive fossil fuels like coal. That's partially true - the whole point behind cap and trade is to raise the cost of emitting carbon and drive investment in energy efficiency and renewable power. "No matter how you doctor it or tailor it, it is a tax," said Representative Joe Pitts, a Pennsylvania Republican...

Author: /time Magazine | Title: What the Energy Bill Really Means for CO2 Emissions | 6/27/2009 | See Source »

...milling around guest houses in the capital. Others published by the Oslo-based Democratic Voice of Burma, an anti-government television channel, detail the extent of some of these complexes, which have independent power supplies, built-in ventilation systems, and are reportedly large enough to allow large vehicles to drive through them. The projects have been nicknamed "tortoise shells" by the government - the often brutally repressive regime intends to use North Korea's subterranean savvy to man a network of underground command centers, linked with fiber-optic cable, that can rule Burma in times of emergency and quash any civilian...

Author: /time Magazine | Title: Why Burma May Be North Korea's Best Friend | 6/26/2009 | See Source »

...just Farrah and myself. It was before the days where you had to have stylists and hair and makeup and background art directors and assistants. It was just me and Farrah and my Nikon, at the home she shared with Lee Majors, a house on Mulholland Drive overlooking Hollywood, with a beautiful view...

Author: /time Magazine | Title: Fawcett Photographer Recalls an Iconic Shoot | 6/25/2009 | See Source »

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