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...World Health Assembly, the decision-making body of the World Health Organization, adopted a treaty designed to attack global smoking through a mix of methods including bans and tax hikes. So far, 164 countries have joined the pact. The U.S. signed the treaty in 2004 but has yet to implement it, though the President is expected to seek Senate ratification soon. That step--like every step taken to hold back the tobacco flood tide--will help. Meanwhile, here's a snapshot of where we stand--and the work that still needs to be done...
California's crisis winds all the way back to 1978's Proposition 13, which cut property-tax rates 57% and forced the state to rely more heavily on income tax revenue. When Californians were wealthy, the tactic generated a surplus, enabling politicians to cut taxes, pad budgets and bask in their popularity. But when times were lean, the state struggled to pay its bills. Governor Pete Wilson encountered this dilemma in 1991, as did Gray Davis in 2003. Now it's Arnold Schwarzenegger's turn to try to wrestle a highly partisan legislature into slashing enough programs to eliminate...
California employs a unique combination of representative and direct democracy. A 1933 provision requires a two-thirds majority in both houses to pass a budget, a rule shared only by Rhode Island and Arkansas. Tax increases must pass by the same percentage--a stipulation adopted by just 12 other states. California also uses referendums, recalls and voter initiatives more frequently than any other state. This tangled structure often combines to confound legislators seeking changes that would relieve the state's woes...
Rolling in Dough 1998 California records a $4 billion surplus. State leaders agree on a $1.4 billion tax...
...government has recently accused Chaudhry of encroaching on its prerogatives. Earlier this month, he struck down a new government "carbon tax" imposed in compliance with IMF demands to phase out fuel subsidies. Zardari responded with a presidential decree that brought the price of gas back...