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...What counts is where you were when the work was being done." Experience: Treasurer since 1996 Prime Minister John Howard's anointed successor has shown he can wait for the top job - but for how much longer? Praised for piling up budget surpluses and introducing a Goods and Services Tax, Costello is set to be Coalition leader by the next election. Though a witty performer in Parliament, he often seems dour outside it, and is yet to test his popularity with voters as a potential national leader - or map out what kind of P.M. he would be.

Author: /time Magazine | Title: Meet the Frontbenchers | 11/16/2007 | See Source »

...Green as their hearts may be, for most Australians the environment seems to be a less pressing election issue than the economy or health care. Howard and Rudd are offering voters big tax cuts, and financial help with everything from first-home purchases to children's dentistry. Their rhetorical flourishes differ, but both are staking their political future on the belief that for now, at least, Australians fear storm clouds on the economic horizon more than their absence from the skies...

Author: /time Magazine | Title: Water Worries | 11/16/2007 | See Source »

...fact that the President has vowed to veto the measure has made Democrats even less willing to go out on a limb. "Why risk losing all those contributions when the President's going to veto it anyway?" said Bob McIntyre, head of Citizens for Tax Justice. Since there won't be enough votes to override a veto, this Congress will likely have to pay for the tax fix the old-fashioned way: by adding to the deficit...

Author: /time Magazine | Title: The Dems' Tax (and Spend) Dilemma | 11/15/2007 | See Source »

...Republicans, for their part, are unified in their opposition to any tax hikes - even threatening a filibuster if the Dems were to bring up the House bill. "The last thing the American people need right now is a massive tax increase which would be a dangerous jolt to our economy," said Senate Minority Leader Mitch McConnell. "Congress must pass a responsible fix to this middle class tax hike, the AMT; a fix that doesn't replace one massive tax increase on Americans with another." Some G.O.P. staffers say a "clean" bill could pass the Senate this week, meaning a bill...

Author: /time Magazine | Title: The Dems' Tax (and Spend) Dilemma | 11/15/2007 | See Source »

...Many Dems are so loath to cede the high fiscal ground painstakingly won from the G.O.P. that they are willing to hit Wall Street with a new tax. But others have very parochial reasons to want to protect private equity. Senator John Kerry, for example, was opposed to a version of the bill that was floated this summer and only came out for this latest iteration with some fairly significant caveats. "We should do it in [a way that] avoids unintended consequence[s] and harm to other similarly structured partnerships in other fields," Kerry said. In Massachusetts the private equity...

Author: /time Magazine | Title: The Dems' Tax (and Spend) Dilemma | 11/15/2007 | See Source »

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