Word: taxed
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...time, not money, is only part of what threatens nonprofit budgets for years to come. Traditional bastions of financial support have plenty of their own problems. Corporations and foundation endowments have been crushed by the stock market. State governments, a key source of fee-based support, are seeing slumping tax revenues. On top of all that, Obama has proposed to reduce tax breaks for wealthy people's contributions...
Members of Congress are talking up bills to levy a 90% or 100% tax on current bonuses at AIG and other financial-industry wards of the state. But if such selective tax increases are constitutional - and it appears that they can be - another approach would make far more sense (I am brazenly stealing it from financial blogger Steve Randy Waldman): impose a less punitive (50%?) but retroactive tax on the past four years of bonuses above a certain amount ($1 million?) paid out by any financial institution that receives a bailout. That is, spread the net wider to catch...
...retroactive tax would hit people who had nothing to do with the bets that pulled their firms under - but that's not all bad, because in the future it would give executives reason to keep a close eye on risks being taken elsewhere in their companies. Yeah, there are complications - the main one being that lots of highly paid employees of AIG, Citigroup and the like are overseas and not subject to U.S. taxes. But it's worth a try. If nothing else, it would give the outraged American electorate the sense that the responsible parties are paying for something...
...moral arguments and instead emphasized the social and economic costs of teen pregnancy. Researchers working with the National Campaign to Prevent Teen and Unplanned Pregnancy have calculated that in 2004 alone, teen pregnancies cost U.S. taxpayers more than $9 billion in health care, foster care, public assistance and lost tax revenue. The cost for South Carolina taxpayers that year came to $156 million...
...Does the comparatively modest nuisance caused by Thursday's action mean Sarkozy and the government can simply ignore the striking? Given the enormous turnout and rising public anger, pundits warn the answer is: No. Though Sarkozy granted $3.5 billon in additional tax cuts to workers following January's walk-out, unions denounce that as a pittance compared to the $35 billion poured into business investment under the government's economic stimulus package and $468 billion in aid handed to French banks and finance groups. The protesters now have three main demands: that major funding be given to employees to increase...