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Hiking taxes is the less traumatic course, though it will only be accepted as the cost of inaction rises. "Congress only responds to financial crisis or some other external shock," says Bill Gale, co-director of the Tax Policy Center in Washington. "Nothing will be done in Obama's first...

Author: /time Magazine | Title: How High Could the U.S. Tax Rate Go? | 3/3/2010 | See Source »

Higher taxes are coming soon, however - and they will hurt. By some estimates, the tax burden on Americans could double before the end of this decade. The only question is: What form will these new taxes take?

Author: /time Magazine | Title: How High Could the U.S. Tax Rate Go? | 3/3/2010 | See Source »

The good news for Britain's pound: nasty fronts like this are usually rare, and soon pass. For one, the slide likely had more to do with Prudential's announcement than with intensified concerns about hung parliaments, as was reported widely in the British press, says Daragh Maher, deputy head...

Author: /time Magazine | Title: Pound Woes: Why Britain's Currency Is Falling | 3/3/2010 | See Source »

Human beings can be a devious lot. At some point, even the most moral of us have skulked or sneaked or filched something we weren't supposed to - even if it were just a cookie from the kitchen. Of all the things that get our sneakiness juices going, there is...

Author: /time Magazine | Title: Why Shady Deeds Are More Likely to Happen in the Dark | 3/3/2010 | See Source »

Despite the headlines generated by food scares and outbreaks of contaminants - such as the salmonella outbreak that led to a massive recall of peanut products beginning in January 2009 - food safety rarely gets the attention it deserves. That's partially because the food-safety system in the U.S. is impenetrably...

Author: /time Magazine | Title: Putting a Price Tag on Food Unsafety | 3/3/2010 | See Source »

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