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...last year. Although the fiscal outlook has improved lately due to a pickup in the local economy, many officials and politicians say a sweeping overhaul of Hong Kong's tax system, such as introduction of a sales tax, is needed?making it harder to sell a reform that looks like tax relief for gamblers. In September, Financial Secretary Henry Tang said he might consider the reduction if it could be clearly demonstrated that tax revenues would not significantly suffer. He noted, pointedly, that a high gambling tax "is not the only reason behind the drop in revenue" at the club...

Author: /time Magazine | Title: Fading Down The Stretch? | 11/29/2004 | See Source »

...didn't want to support the President's position, I wouldn't be in the Administration." DONALD RUMSFELD, U.S. Defense Secretary, responding to a New York Times editorial that accused him of lobbying against a controversial intelligence-reform bill backed by President George W. Bush...

Author: /time Magazine | Title: Verbatim | 11/29/2004 | See Source »

Then, even more audacity. He not only claimed his mandate. He defined it right on the spot. Seizing the third rail of American politics, he promised to reform Social Security with, at minimum, partial privatization. He then added his intention to radically redo the tax code--which includes entertaining such ideas as entirely abolishing the Internal Revenue Service by going to a national sales tax. You cannot get more radical than that. His subsidiary aims, earthshaking in any other context but almost minor in this one, are kneecapping the lawsuit industry with serious tort reform and installing a conservative judiciary...

Author: /time Magazine | Title: Why Bush Has No Fear | 11/29/2004 | See Source »

...Goss has so far turned out to be anything but a company man. In less than two months as CIA chief, he has turned the agency's clandestine-operations wing upside down, sparking the resignations of some of its highest-ranking officers, alarming even reform-minded lawmakers on Capitol Hill and turning the heads of White House officials who prefer their housecleaners to do things quietly. It has been difficult to tell if Goss was orchestrating a loyalty purge or making an example of some of the CIA's best operatives. Either way, Goss has unleashed a costly spectacle that...

Author: /time Magazine | Title: In Your Face at the CIA | 11/29/2004 | See Source »

...government intervention. Fabius is appealing to the party's left wing, which includes union members and harder-line leftists, and is thought to comprise about 30% of the PS's over 120,000 members. He's also signaling that he'll be a more effective opponent of the conservatives' reforms. Supporters of the constitution like Hollande admit it's flawed, but claim it can be amended. They say rejecting it would marginalize the party. "This vote determines whether the PS can retain its identity and legitimacy as a constructive European force and a party of responsible reform," says Strauss-Kahn...

Author: /time Magazine | Title: A Party Divided | 11/28/2004 | See Source »

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