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...other states, however, it's the extra volatility that comes from dependence on personal-income tax that is exacerbating the problem. Research by economists at the Chicago Fed show that by the late 1990s, the personal-income tax had emerged as the major source of state revenue - and that personal-income tax swings more wildly than other taxes, like sales tax. The typical state now gets 36% of its funding from personal-income tax, according to the Rockefeller Institute of Government. As unemployment continues to climb and investors offset their capital gains with losses, the effect is felt disproportionately...

Author: /time Magazine | Title: After California: Which States Are in the Most Peril? | 7/8/2009 | See Source »

...field and who holds the aptly named Smiley chair in psychology at the University of Illinois. As for paraplegics, "there is a big drop for those who became 100% disabled, meaning they can no longer do any work." In general, Diener noted, people do adapt to a major life change but not completely. "We have to be careful when we cite these studies," warned the genial researcher, who wore a smiley face T-shirt under his sport coat...

Author: /time Magazine | Title: The Science of Happiness Turns 10. What Has It Taught? | 7/8/2009 | See Source »

...presidency rotates each year among the members (a new term begins on January 1) with that country responsible for planning and hosting some lower-level meetings, which serve as the build-up to the mid-year three-day event attended by the major players. As this year's G-8 president, Italian Prime Minister Silvio Berlusconi has the honor of hosting Canada's Prime Minister Stephen Harper, France's President Nicolas Sarkozy, Germany's Chancellor Angela Merkel, Japan's Prime Minister Taro Aso, Russia's President Dimitri Medvedev, U.K.'s Prime Minister Gordon Brown and the U.S.'s President Barack...

Author: /time Magazine | Title: The G-8 | 7/8/2009 | See Source »

...Nevertheless, protests do go hand-in-hand with the event as activists often allege that it's the G-8 members themselves who are responsible for creating the crises they're trying to solve (poverty and global warming, for example). There have been some major demonstrations this decade, ranging from the relatively peaceful (225,000 people taking to the streets of Edinburgh in July 2005 as part of the Make Poverty History campaign) to the undeniably violent (the Genoa G-8 protests of July 2001, which drew an estimated 200,000 demonstrators with hundreds injured - and even some deaths - following...

Author: /time Magazine | Title: The G-8 | 7/8/2009 | See Source »

...morning Uighur districts appeared largely undisturbed. On July 8 small groups gathered in both Uighur and Han areas, but few people were carrying clubs and knives. There were reports of scattered attacks, but no large-scale violence. Dozens of trucks and hundreds of troops lined Renmin Road, a major east-west corridor that roughly separates the Uighur and Han districts...

Author: /time Magazine | Title: Tensions Remain As Chinese Troops Take Control in Urumqi | 7/8/2009 | See Source »

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