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...legislation requires minute scrutiny, and the Ways and Means plan had many minor and major changes in the fine print. The proposal would keep the top annual contribution for an Individual Retirement Account at $2,000, but it would reduce a taxpayer's IRA write-off by $1 for every dollar the person puts into a 401(k) plan, another popular tax-deferred savings plan. The committee felt the Government could recoup revenue by limiting how much money taxpayers put into both plans at the same time...

Author: /time Magazine | Title: A Game New Plan On Taxes | 6/21/2005 | See Source »

...could be found last week at department-store sales. Thousands of people were snapping up presents at the Metropolitan Museum of Art's gift shops. Calvin and Sharon Petersen of Mantua, Utah, bought build-it-yourself paper medieval towns (price: $6.95). Cathy Smith of Medford, Ore., bought a framed print of Nathaniel Currier's lithograph The Favorite Cat ($38). For his mother, Steven Prince, a Los Angeles businessman, selected a shawl imprinted with the tree of life ($25). Says Prince: "Museums sell items of quality. They bring art to the people...

Author: /time Magazine | Title: Mixing Class and Cash | 6/21/2005 | See Source »

...other ways, too, the dictatorship is less oppressive. Deng has permitted a popular press to spring up. Hundreds of new publications have appeared all over China; they cannot criticize policy, but they print lurid exposés of prostitution, pornography, corruption and black-marketeering by party officials (indeed, they sometimes seem to report little else). Culturally, Deng in 1983 permitted officials to start a crackdown on writers and artists, in the guise of a campaign against "spiritual pollution," probably as a gesture toward conservatives concerned that the pace of change was too rapid. But Deng speedily announced that the campaign...

Author: /time Magazine | Title: China: Old Wounds Deng Xiaoping | 6/21/2005 | See Source »

...impetuous and romantic, the sort of fellow who, but for the grace of poor vision and ten thumbs, a trick knee and an unhealthy dependence on bonded bourbon, might have made a fighter pilot. Lately he has been captivated and obsessed by some of the slickest ads in print, the ones depicting the F-20 Tigershark poised on a liquid mirror out in the Mojave Desert. What is it about this bird, he wonders, that has caused it to be acclaimed in the Atlantic, praised by 60 Minutes, touted by ever skeptical Ted Koppel? Not since laying eyes...

Author: /time Magazine | Title: In California: Ogling the F-20 Tigershark | 6/21/2005 | See Source »

...lyrics and enough dynamic variety to preclude the danger of overkill." A concert by Barbra Streisand? How about Pia Zadora? Yes, Pia Zadora, who confesses that she went out and bought five copies of the rave by Los Angeles Times Critic Leonard Feather, "hoping they wouldn't print a retraction." They didn't, and in the ensuing three months Zadora's U.S. concert tour has radically improved her image: cinema's laughingstock has suddenly blossomed into a serious singer of such pop classics as It Had to Be You, Maybe This Time and For Once in My Life. An album...

Author: /time Magazine | Title: People: Jan. 20, 1986 | 6/21/2005 | See Source »

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