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...expense of other industries," says Chan, who stresses that small- and medium-size businesses cannot match the high salaries offered by the casinos. The local government evidently agrees: In his annual policy address on Nov. 11, Ho announced a $1.3 billion stimulus package of infrastructure improvements, income tax cuts, and cash handouts of roughly $640 per citizen. "Anything that allows the industry some breathing room is good," says Lam. "This is a good time to rest, and to re-think policies...

Author: /time Magazine | Title: Dark Days Ahead for Macau, Asia's Las Vegas? | 11/14/2008 | See Source »

...personal rapport with ordinary Americans that F.D.R. and Reagan had - and he has the communication skills to do it - liberals will probably hold sway in Washington until Sasha and Malia have kids. As that happens, the arguments that have framed economic debate in recent times - for large upper-income tax cuts or the partial privatization of Social Security and Medicare - will fade into irrelevance. In an era of liberal hegemony, they will seem as archaic as defending the welfare system became when conservatives were...

Author: /time Magazine | Title: The New Liberal Order | 11/13/2008 | See Source »

...Obama has said building an alternative-energy economy will be his top priority. The question is, How bold is he willing to be about that? Actually, there are a lot of questions: How much of the stimulus plan he proposes in January will be devoted to immediate middle-class tax relief, and how much to investing in the future? What would a plausible alternative-energy plan look like...

Author: /time Magazine | Title: What a New Energy Economy Might Look Like | 11/13/2008 | See Source »

...quid pro quo: they would have to increase fuel-efficiency standards in their cars at least 4% per year and make major investments in new battery technology for plug-in hybrids. • A green-infrastructure fund to make existing public buildings more energy-efficient and provide homeowners with tax breaks to do the same. "This could help revive the construction industry," Hendricks says...

Author: /time Magazine | Title: What a New Energy Economy Might Look Like | 11/13/2008 | See Source »

...Tax credits for companies that produce wind and solar energy and energy conservation products like fiberglass insulation. According to Hendricks, there are companies ready to build wind farms in the Midwest and solar farms in the Southwest if they can be guaranteed that there will be a market for their products even if oil prices drop. • Construction of a new "smart" electric grid to deliver the power generated by wind, solar and geothermal plants in rural areas to the major population centers. This would be a down payment on the $400 billion over 10 years that Al Gore...

Author: /time Magazine | Title: What a New Energy Economy Might Look Like | 11/13/2008 | See Source »

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