Word: taxed
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...screwed up.' BARACK OBAMA, admitting errors in his handling of the tax controversy that led Tom Daschle to withdraw his nomination for Secretary of Health and Human Services...
Russia needs foreign companies to plug a huge hole in Putin's economic policies. During his first term, Putin introduced modern tax and corporation laws. But he failed to spur the development of a business infrastructure that would enable Russia to shake its overreliance on energy and metals. Now, as the crisis starts to bite, the Kremlin is reacting by increasing its control over broad swaths of the economy. Through the state-controlled banks, it is bailing out selected business executives who are having trouble paying their debts--including Oleg Deripaska, a metals tycoon who until recently was Russia...
...sort of like those geese criticizing the evacuation plans for US Airways Flight 1549. Their critiques seem even more comical when you see their alternatives. They warn that President Obama's stimulus package will explode the debt--so they want to make George W. Bush's debt-exploding tax cuts permanent. They say Democratic spending plans are full of pork--then they propose an extra $24 billion for the Army Corps of Engineers, the federal equivalent of Oscar Mayer. Let's just say their idea bank could use a bailout...
...there have been more serious critiques of the $900 billion--plus American Recovery and Reinvestment Act--from more serious critics. The stimulus smorgasbord does include some head scratchers, like $246 million worth of tax breaks for movie producers to buy film and $1.4 billion for "rural waste-disposal programs." Principled conservatives worry that it's so big, it will institutionalize Big Government; principled liberals worry that it won't be big enough to resuscitate a flatlined economy. And a bipartisan chorus--including Clinton Administration budget chief Alice Rivlin and Reagan Administration economist Martin Feldstein--has argued that the stimulus package...
...really does matter how the money is spent. But actually, we had that debate in November, and Obama won. This crisis is an ideal opportunity for him to start keeping his campaign promises: providing tax relief and health security to ordinary Americans, restoring our economic competitiveness and reducing our dependence on environmentally disastrous fossil fuels, which increases the power of our enemies. It's hard to imagine when he'll have a better opportunity. Nothing in the historical record suggests that when Congress has more time to deliberate--and more time to confer with special-interest lobbyists and local-interest...