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...people who do see a meaningful benefit are, by and large, already rich. Economists James Poterba and Todd Sinai found that the tax savings from the mortgage-interest deduction for households earning more than $250,000 is 10 times the tax savings for households earning $40,000 to $75,000. According to Congress's Joint Committee on Taxation, a little more than half of the savings is seen by just 12% of taxpayers - those with incomes over...

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

...curtailed. But bigger issues are at stake too, ones that are more political and philosophical in nature: Should any bank be too big to fail? What should be done with financial activities that seem purely speculative and of questionable social use? How can the short-term, get-rich-quick mentality that drove so much market activity before the crash - and inflated those bonuses - be curbed? Is there a place for morality in the world of finance? (See the financial crisis after one year...

Author: /time Magazine | Title: Braking the Banks | 9/28/2009 | See Source »

...developing countries, women and experts in various specialties that have traditionally been divorced from tech. "We're just starting to get our heads around this. It's a genuinely difficult problem," Gardner says. "Obviously, Wikipedia is pretty good now. It works. But our challenge is to build a rich, diverse, broad culture of people, which is harder than it looks...

Author: /time Magazine | Title: Is Wikipedia a Victim of Its Own Success? | 9/28/2009 | See Source »

...York University graduate student Rich S. Carapezza and Cristina Ortiz ’10 stuck to nachos and French bread pizza over Pilsner and knackwurst...

Author: By Naveen N. Srivatsa, CRIMSON STAFF WRITER | Title: Oktoberfest Transforms Campus Pub | 9/28/2009 | See Source »

...This may be the flaw in China's strategy to nourish private-sector enterprises. If SMEs are to tap the capital markets for steady and sustainable financing, investors must be willing to support them for the long term. Unfortunately, the market's current get-rich-quick mindset cannot be changed overnight. Hong Kong, a more mature financial center, launched a GEM board 10 years ago. It has not been a notable success, with just 172 companies and total market capitalization of $11 billion - equal to 0.6% of the main board...

Author: /time Magazine | Title: Why China's Nasdaq Is No GEM | 9/28/2009 | See Source »

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