Word: taxed
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...money from theaters, museums and other arts groups. Though that provision was removed in the final version, it impressed on the arts community that it had to remind leaders that "real people" work in their sector of the economy, which provides 5.7 million jobs and nearly $30 billion in tax revenue...
...targets of the moment are the health-care benefits that employers now give their workers tax-free - an income loophole that costs the U.S. nearly $250 billion a year. "There's a lot of money there," says Massachusetts Institute of Technology economics professor Jonathan Gruber. "There's certainly enough there to get to universal coverage." Even taxing only those benefits that are more expensive and generous than average, he says, could raise $360 billion to $500 billion over 10 years...
...Arithmetic aside, the idea of taxing employer-provided health insurance as income has plenty of merit. The current system is regressive, with three-quarters of the tax break going to those who are in the top half of the income-distribution scale. And because these more privileged Americans are not buying health care with after-tax money, they have less incentive to use it carefully...
...Taxing benefits has already run into opposition from unions that have given up wage gains in favor of health benefits in recent rounds of negotiations. There is also the inconvenient fact that Obama attacked John McCain in last year's election for proposing exactly such a tax on something workers believe they get for free. Still, Baucus says, "Not all those benefits should be tax-free. The bulk should be tax-free, but not all of them. That's part of the solution." (See the top 10 medical breakthroughs...
...unleashed forces in his own party that he may not be able to subdue. After Smith's husband was found to have submitted claims for two pornographic movies, her Cabinet future looked uncertain. Blears, too, has been tarnished by allegations that she failed to pay the capital gains tax on the sale of property she had officially designated as her second home, in order to claim the MPs' second-home allowance on it. The two women could have meekly awaited their fate in the reshuffle long planned to reassert Brown's authority after Thursday's elections. Their decision to jump...