Word: taxed
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...DIED. JOHN COWPERTHWAITE, 90, Hong Kong's hard-nosed financial secretary from 1961-1971; in St. Andrews, Scotland. A disciple of 18th century economist Adam Smith, Cowperthwaite reduced the government's role in the economic affairs of the then-British colony, eliminating tariffs, lowering income tax to a maximum of 15% and slashing bureaucratic red tape. Hong Kong flourished under this policy of what he called "positive non-intervention," leading economist Milton Friedman to hail him as the embodiment of laissez-faire economics. "I did very little," Cowperthwaite said of his part in Hong Kong's prosperity...
...these factories, equipped with second-hand equipment from China, has allegedly counterfeited such brands as Mild Seven, Dunhill and Benson & Hedges. According to the report, another factory in Rajin employed 120 people and was run by Chinese supervisors and technicians; North Korean officials were allegedly paid a "tax" on the factory's cigarettes, which were then exported in fishing vessels owned by a Taiwan crime syndicate. Indeed, the report claims that a chief attraction of running such a business in North Korea is that the "regime's willingness to allow dedicated, deep-sea smuggling vessels to use its ports provides...
...have told TIME that Bush will describe the world as full of change in the economy, demographics and technology-and he?ll tout his ideas as ways of giving Americans tools to deal with this tumult. He?ll repackage several longstanding ideas-like tort reform and making permanent the tax cuts that are due to expire in the coming years-as essential to the American economy. He?ll also tout health care reform-especially the idea, endorsed by politicians from Hillary Rodham Clinton to Newt Gingrich, to use technology to lower health care costs-but avoid getting mired in details...
...popularity of such Conservative campaign pledges as strengthening the military and reducing the gst from 7% to 5% suggests that the mainstream has already shifted rightward. As in other Western industrial powers, traditional support in Canada for government social spending is now tempered by worries about high taxes, devalued retirement portfolios and personal financial security--particularly in the bulging boomer generation whose oldest members are entering their 60s. Canada's center-left political parties have taken note of the trend: the Boxing Day shooting in Toronto left even the New Democrats scrambling to articulate a tough-on-crime policy. Jason...
Will Congress expand HSAs? President Bush wants to raise contribution caps and expand eligibility. But the plan's tax benefits will already cost at least an estimated $92 billion in its first 10 years. Bush will argue that's a small price to pay for better and broader health care, but even a Republican Congress that agrees--and loves to create tax-free accounts--may hesitate to foot such a big bill...