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...past, corporations could deduct from their taxes only a small portion of the losses incurred by a company they acquire. The rule, commonly called Section 382, eliminated the practice of companies' avoiding taxes by buying failing corporations just for their losses...

Author: /time Magazine | Title: New Tax Rules: The Hidden Corporate Bailout | 12/10/2008 | See Source »

...double the 65 issued in the last year of Bill Clinton's presidency. Lawmakers, too, have passed tax changes and are pushing for more, which will save corporations billions of dollars this year. One of the biggest windfalls could come from a proposed change in the so-called carryback rule, which would fatten the tax rebate companies get when they have losses. The extension would be similar to one that was passed after 9/11...

Author: /time Magazine | Title: New Tax Rules: The Hidden Corporate Bailout | 12/10/2008 | See Source »

...picture: the most basic rule is that the law is entitled to all the evidence, in order to assure a fair trial. The rules relating to privileges are exceptions to that general rule; rules creating privileges deny the parties access to certain kinds of evidence. The legal theory is that the public's interest in protecting the privilege outweighs the public's interest in having all the evidence for a fair trial. Some are obviously necessary (e.g. lawyer-client), some are more historical than practical (e.g. priest-penitent), and some are quite questionable (e.g. spousal privilege). The theory underlying...

Author: /time Magazine | Title: Possible Rule Changes for Gitmo | 12/9/2008 | See Source »

...Comm. R. Evid. 501 is taken from the military rules, but it did not include 501(d), which specifically rejected the physician-patient privilege. The government's ability to obtain access to detainee medical records has become a big issue. Under the existing law, there is no basis for denying the government such access. Amending this rule to conform to military practice would help clarify this issue...

Author: /time Magazine | Title: Possible Rule Changes for Gitmo | 12/9/2008 | See Source »

This is not the first time warlords have had positions of power in Afghanistan. Following the 1989 withdrawal of Soviet troops, rival mujahedin groups that had united to drive the foreigners out turned on each other, further destroying the country in a brutal civil war marked by warlord rule. The government collapsed, and militia commanders were able to seize territory, terrorize the population and, in some cases, even issue currency. The Taliban capitalized on widespread disgust with their savagery, eventually coming to power in 1996. The U.S., unwilling to commit large numbers of ground troops when it went to overthrow...

Author: /time Magazine | Title: Warlords Toughen US Task in Afghanistan | 12/9/2008 | See Source »

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