Word: taxed
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...gearing up for that possibility. Sasol executives have already toured Montana and Illinois to gauge interest, conducted discussions with firms such as General Electric and sought out lawmakers in Washington, DC, to talk about investing in the U.S. President Bush and Congress nudged matters forward this summer by creating tax-incentives and loan guarantees that make investing in coal-conversion plants less risky financially...
...shops, pulling down corrugated shutters and tugging on the padlocks to make sure they're secure. A two-month-old dispute between Gambia and its enveloping neighbor Senegal has cut river crossings, the lifeblood of Farafenni's business, to a trickle. "This is hurting both of us," says port tax collector Karamo Marong, counting out a thin clump of sweaty bills that is his day's meager haul. "And it's ordinary people who suffer." At issue is not just bureaucracy but the crazy quilt of borders stitched across the continent by Europe's colonial powers during the scramble...
...will get their first full picture of current and future health-care costs of public employees. That's when new accounting rules go into effect requiring governments to itemize health-care spending and forecast costs for coming years. The change in bookkeeping will either set off a wave of tax increases, reductions in government services or both. Lest anyone think state and local retirement-plan sponsors may emulate those in corporate America and simply walk away from the promised health-care benefits, think again. More than once, courts have ruled that health benefits promised to government workers (among them judges...
Truth to tell, the 401(k) was never intended as a retirement plan. It evolved out of a tax break that Congress awarded to corporate executives in 1978, allowing them to defer part of their salaries and cut their tax bills. At the time, federal income-tax rates were much higher for upper-income individuals--the top rate was 70%. (Today it's half that.) It wasn't until several years later that companies began to make 401(k)s available to most employees. Even then, the idea was to encourage saving and provide a tax shelter, not to substitute...
...works at a nearby office of H&R Block, the tax- return service. "I do everything there," she says. "I am the receptionist. The cashier. I open the office, close the office. I'm the one who takes the money to the bank. I do taxes." A widow, she lives alone in an apartment building for seniors. Her four children help with the rent, but she is reluctant to accept anything more. "All my children are great, but I do not like to ask them for anything," she said. "I'm waiting for myself to get old, when I will...