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...Something In The Air Farmers in New Zealand protested outside the country's parliament against government plans to tax cattle's gas emissions. Politely dubbed the "flatulence tax," the levy would raise around $4.5 million for research aimed at cutting the methane output of the country's livestock...

Author: /time Magazine | Title: Biz Watch | 9/7/2003 | See Source »

...fears, it will be hard for Sweden to use the fiscal tools of government spending to correct the problem. But such abstractions are not foremost in voters' minds. The real opposition to the euro is political. The fright scenario is: the European Union will eventually adopt measures to harmonize taxes, which will mean a cutback in high-tax countries like Sweden. The government will respond by cutting the budget, which will translate into slashing public-sector jobs like teachers and nurses. These jobs are held mostly by women, which helps explain female hostility to the euro. "We would give away...

Author: /time Magazine | Title: The Euro's Big Test | 9/7/2003 | See Source »

...Democrat Phil Bredesen, a self-made millionaire, won the seat telling voters they?d never hear a peep out of him about an income tax to balance the budget. But Bredesen quickly realized the one-cent sale tax hike wouldn?t be nearly enough to cover the budget shortfall. ?The problems were more severe than I thought they would be,? he says. So Bredesen, who?s refusing a salary, took a meat cleaver to the budget, slashing $400 million and 847 state jobs. State officials may even repossess library books - including Dr. Seuss - from rural schools that haven?t paid...

Author: /time Magazine | Title: The Fall of Our Governor's Discontent | 9/6/2003 | See Source »

...Montana?s tax base also has shrunk, which has forced deep cuts in education, health and welfare programs. And the biggest blow for Martz came from what ended up being an ill-advised utility deregulation approved by her predecessor, Gov. Marc Racicot, who went on to chair the Republican National Committee, then Bush?s reelection committee. Before deregulation, the state?s residents enjoyed the nation?s fifth lowest utility rates from Montana Power Company. But then the unregulated company sold off its generation and transmission equipment and plowed the $2 billion in profits into a telecom subsidiary that went bankrupt...

Author: /time Magazine | Title: The Fall of Our Governor's Discontent | 9/6/2003 | See Source »

...When Tennessee was staggered by budget shortfalls in 2001, then Republican Gov. Don Sundquist proposed an income tax for state residents instead of another hike in the sales tax, which was already one of the highest in the country. The GOP all but disowned him, conservative talk show hosts began vilifying him and a mob gathered on the Capitol?s steps in Nashville hurling rocks that crashed through his window. An embittered Sundquist settled for another penny hike in the sales tax then left office when his term ended last January, refusing to campaign for the Republican candidate who wanted...

Author: /time Magazine | Title: The Fall of Our Governor's Discontent | 9/6/2003 | See Source »

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