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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 »

...fact that even the slightest hint of a turnaround in the global economy has sent oil prices skyrocketing from $35 a barrel to more than $70 ought to be a sign that the upward price cycle that started a decade ago isn't played out yet. The crucial element may be that the struggling U.S. no longer drives the global demand cycle--China and India...

Author: /time Magazine | Title: A Fun-Free Recovery | 6/29/2009 | See Source »

...Mehsud, Zainuddin was scarcely the model of a local hero rising up against a tyrant. In recent interviews, he pledged fealty to Mullah Omar, the leader of the Afghan Taliban, declared his fondness for al-Qaeda, and waged 'jihad' against U.S. and NATO forces in Afghanistan. A key element of his quarrel with Mehsud was a difference in militant priorities: While Mehsud and his allies in the Swat Valley were principally fighting against the Pakistani military and attacking Pakistani territory, Zainuddin believed that it was wrong to attack fellow Muslims and wanted to focus their fire on Western forces...

Author: /time Magazine | Title: Pakistan Slaying Reveals a Flawed Strategy | 6/25/2009 | See Source »

...hired comedy writers for your staff, but you've also spoken of the need to avoid trying to be too funny. Is the humor element to the show something you're still trying to feel out? People want to be entertained. I don't want to see people facedown in their salad. You don't have to be half of a Frost-Nixon interview every time...

Author: /time Magazine | Title: Broadcaster Joe Buck | 6/16/2009 | See Source »

...democratic element of Iran's system has functioned as an important safety valve for clerical rule by creating a managed channel for the release of popular frustrations. But now the Supreme Leader appears to have thrown his weight solidly behind what many are charging is a carefully staged putsch by Ahmadinejad. "The willingness of the regime simply to ignore reality and fabricate election results without the slightest effort to conceal the fraud represents a historic shift in Iran's Islamic revolution," Columbia University Iran expert and former National Security Council official Gary Sick wrote in a web posting. "All previous...

Author: /time Magazine | Title: Khamenei: The Power Behind the President | 6/15/2009 | See Source »

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