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...answer to our tax-system chaos is to abolish the IRS and adopt the Fair Tax. If everyone "who stays in America pays for America," there would be no reason to fund bloated federal bureaucracies to pursue tax scofflaws. Every person would pay 23% on every new car, suit, pair of shoes, radio or home. In return, individuals and companies would pay no income tax. With no disincentives to earning more, investment would boom. The stronger dollar would also deflate the price of oil, killing two birds with one stone. John P. Kuchta Jr., VIRGINIA BEACH...

Author: /time Magazine | Title: How Will China Respond? | 6/11/2008 | See Source »

...French Riviera, sitting on your 100-foot yacht, and planning a cocktail party for 60 of your closest movie-star friends. Now let's say you decide that your party absolutely, positively requires a bushel of Patagonian blueberries, a case of 1990 Dom Perignon, some bongo drums, and a pair of llamas. Who do you call...

Author: /time Magazine | Title: Jeeves 2.0 | 6/10/2008 | See Source »

That's not the only dilemma faced by this new wave of goal-oriented minimalists. One of the trickier questions is what counts as an item. Bruno considers a pair of shoes to be a single entity, which seems sensible but still pretty hard-core when you're trying to jettison all but 100 personal possessions. Cait Simmons, 27, a waitress in Chicago, takes a different approach. Although she has pared down her footwear collection from 35 to 20 pairs, she says, "All my shoes count as one item...

Author: /time Magazine | Title: How to Live With Just 100 Things | 6/5/2008 | See Source »

Recent history says that when a financial trend gets popular, it gets riskier too. Think subprime mortgages. That may or may not be the case with big banks and microfinance. What is clear is that this pair won't be parting ways anytime soon...

Author: /time Magazine | Title: The Big Trouble In Small Loans | 6/5/2008 | See Source »

...just as more troops are taking these drugs, there are new doubts about the drugs' effectiveness. A pair of recent reports from Rand and the federal Institute of Medicine (iom) raise doubts about just how much the new medicines can do to alleviate PTSD. The Rand study, released in April, says the "overall effects for SSRIs, even in the largest clinical trials, are modest." Last October the iom concluded, "The evidence is inadequate to determine the efficacy of SSRIs in the treatment of PTSD...

Author: /time Magazine | Title: America's Medicated Army | 6/5/2008 | See Source »

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