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...other interesting bit about the mortgage-interest deduction is that policymakers never intended it to help promote homeownership - something that many people assume to be the case and use to help frame their thinking about the appropriateness of using the tax code to boost home-buying. Rather, the deduction is an artifact of the 1894 federal income-tax code, under which all interest was deductible, since pretty much all interest was a business expense. There weren't really loans to buy houses back then. In other words, a massive and costly cornerstone of American housing policy isn't even something...

Author: /time Magazine | Title: Should the Home-Buyer Tax Credit Be Allowed to Expire? | 9/28/2009 | See Source »

...Robert Atlas, chairman of the obstetrics and gynecology department at Baltimore's Mercy Hospital, says he has never encountered a case of superfetation during practice. He says such pregnancies occur when a woman continues ovulating after becoming pregnant and when that second, fertilized egg is able to implant itself in the lining of the womb - two things that wouldn't happen in a normal pregnancy. Typically, hormonal changes prevent further ovulation and thicken the lining of the uterus to preclude a second embryo from attaching. Why didn't that happen with Grovenburg? No one's really sure...

Author: /time Magazine | Title: How Can a Pregnant Woman Get Pregnant Again? | 9/28/2009 | See Source »

...question for China's leaders was never whether to modernize - but how. During the Maoist era a variety of economic models were experimented with, each of which achieving some modicum of growth. Yet all of them left China lagging far behind the West and East Asia. The costs of some initiatives, like the Great Leap Forward from 1958 to 1960, were catastrophic in human and environmental terms. It was not until Deng and Chen Yun, another reform-minded Politburo member, returned to power in 1978 from internal exile that the economic course was changed. (See pictures of a new look...

Author: /time Magazine | Title: China at 60: The Road to Prosperity | 9/28/2009 | See Source »

...Three decades later, Chinese society has fully blossomed. Chinese today experience a wide variety of personal freedoms in daily life that they and their ancestors had never known. Chinese state and society have also reconnected with the past, emphasizing Confucian and Buddhist values. More than 200 million people have been lifted out of poverty and the members of a growing middle class with disposable income travel abroad, invest in the stock market, dine out and decorate their stylish apartments with furniture purchased from stores like Ikea. Access to education has become far more widespread. Some 21 million students attend university...

Author: /time Magazine | Title: China at 60: The Road to Prosperity | 9/28/2009 | See Source »

...real dark spots of Chinese communist rule. For six decades intellectuals have been persecuted, harassed and forced to conform and create within various boundaries set by the state. They continually probe the boundaries - until the state pushes back. Despite continuing controls, public and private discourse in China has never been so free. The blogosphere and Internet are alive with unbridled discussion - unless and until it crosses the state censor's invisible hand. (Read "Avoiding Censors, Chinese Authors Go Online...

Author: /time Magazine | Title: China at 60: The Road to Prosperity | 9/28/2009 | See Source »

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