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...financial firms, including Citigroup and J.P. Morgan Chase, moved their employees to other locations around the city and to nearby Jersey City, N.J. Government officials persuaded Goldman Sachs to erect a building near ground zero, but at a cost of more than $1.6 billion in Liberty Bonds--low-cost, tax-exempt bonds issued by the city and state governments. The city and state provided an additional $150 million in tax breaks...

Author: /time Magazine | Title: A New Blueprint | 5/8/2006 | See Source »

...double-shot lattes, banana bread and babycinos that will in due course rest on six separate bills. They are an exclusive club, to be sure; some 3,000 wealthy stay-at-home mums-married to bankers, doctors or entrepreneurs who make $A250,000 or more a year-receive Family Tax Benefit (B). It's not as if they're desperate for the $A3,300 Howard channels their way. But they'll take it nonetheless, because "it's not welfare." Even housewives deserve a tax break. And we all know it takes a fortune to raise a child these days...

Author: /time Magazine | Title: Meet Howard's Welfare Mothers | 5/8/2006 | See Source »

...warns, would define down definitions of "rich" and "wealthy." On the government's own figuring, lowering the eligibility limit to annual incomes under $A125,000 would save "less than $100 million." Each year the FTB system grows, as revenue is churned back into middle Australia. Rather than adjusting the tax scales, so that everyone gets a share of so-called "bracket creep," FTB has become a very conspicuous component of family accounting. This financial year, according to the Treasury, 40% of families will receive more in cash benefits than they pay in personal income tax...

Author: /time Magazine | Title: Meet Howard's Welfare Mothers | 5/8/2006 | See Source »

...viewers. But he's one of the few lawmakers willing to publicly encourage cutting back. The President's four-point plan to reduce gas prices includes no mention of encouraging personal conservation - even though he has in the past pushed measures that create incentives to do so like giving tax breaks for making energy conserving home improvements. And at Bush's meeting with lawmakers on Wednesday, "everybody listened to everyone else and then we left," says Democratic Senator Jeff Bingaman, the ranking Democrat on the Senate Energy and Natural Resources committee, but "the meeting was inconclusive in that we didn...

Author: /time Magazine | Title: The Oil Fix Congress Won't Touch | 5/4/2006 | See Source »

...course, any real sacrifice means short-term inconvenience, if not outright pain. For the hardest hit and essential sectors of the economy, the government can find ways to create an appropriate gas tax credit structure that will also avoid creating a regressive tax. But, ultimately, even the short-term increase in gasoline prices that would result from a new excise tax is but a pittance of the price that America would pay years down the road when the price of a gallon has reached double digits, national consumption has not decreased, and no good gasoline alternative is available...

Author: By The Crimson Staff | Title: Medication for an SUV Nation | 5/2/2006 | See Source »

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