Word: taxed
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That doesn't bode well for George W. Bush's ambitious second-term agenda, which includes reforming the federal tax code, partially privatizing Social Security and probably naming at least one Supreme Court Justice. To make any of that happen, Bush will have to work with the opposition. But he is getting less of a honeymoon from Democrats after winning an election with a clear majority than he did after winning one decided by the Supreme Court. Leaders of both parties mouth the usual platitudes about wanting to work with the other side, but they are not backing...
...money matters too, and even within the G.O.P. there are sharp disagreements--over, for instance, how the government will cover the shortfall in Social Security revenue promised to today's seniors during the transition to private accounts. Some favor borrowing the money, while others think taxes need to be raised or benefits cut to avoid adding to the deficit. The President, while opposing tax hikes, has yet to deliver a concrete proposal. "If you can fix this thing without pain, sign me up," says Republican Senator Lindsey Graham. And if you can escape the propaganda war over Social Security...
...believe the real India is affluent and mainly concerned with the good things in life. But the true India consists of millions who are deprived of life's basic necessities. The country's rich have shirked their responsibility to the poor. The wealthy still find ways to avoid paying taxes, evidenced by the number of income-tax cases against well-known citizens. The affluent are also failing the country by not contributing directly to the society from which they have derived their wealth. A lot of Indians could assist others by offering a minuscule part of their talent?doctors could...
Watch the Hands Will oil unite Russia and China in a way that communism never did? Yukos watchers assumed that the Russian oil titan, neutered by massive tax bills and the jailing of its CEO, would end up in the hands of the Russian government. But last week Russia's Energy Minister, Viktor Khristenko, announced that a 20% stake in the new business may be sold to China's state-oil company CNPC...
...Year's Eve at Yuganskneftegaz's Siberian HQ to claim the keys. Meanwhile, in Houston, Deutsche Bank is challenging the temporary bankruptcy protection won earlier by Yukos lawyers hoping to stave off the sale. The bank argues that Texas law has no place in a Russian tax dispute. The ruling prompted Putin to crack: "I am not even sure the judge knows where Russia is," but a procedural hearing is set for this week. Yukos' lawyers say that even if the sale is a done deal, the company would seek damages against anyone helping in the sale of assets they...