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...government's reaction then was to fine companies who broke new anti-pollution laws and, in some cases, give them tax credits for being better environmental citizens. Tax credits do not have much use in a recession when many companies do not pay taxes because they are losing money or do not have the spare cash to modify existing production habits...

Author: /time Magazine | Title: Even Al Gore Can't Bring Attention to the Environment and Recession | 5/18/2009 | See Source »

...Search Why were so many jobs lost? mainly because Halle's local businesses had been rendered uncompetitive by the currency swap and wage increases. That meant economic growth in the east often relied on direct government support, in the form of infrastructure projects, tax breaks for individual investors, direct transfer payments of social benefits for pensioners and the unemployed, and state subsidies for corporate investments...

Author: /time Magazine | Title: What Germany Got for Its $2 Trillion | 5/18/2009 | See Source »

...Washington Targeting Tax Havens President Obama has proposed cracking down on U.S. corporations that use offshore subsidiaries to lower their tax burdens. While most nations do not tax corporate profits earned abroad, Obama says doing so would put some $210 billion in U.S. coffers over the next 10 years. Critics say the change would make it harder for U.S. companies to compete globally and could spur some to relocate overseas. A 2008 report from the Government Accountability Office said 83 of the 100 largest public U.S. companies have subsidiaries in tax havens...

Author: /time Magazine | Title: The World | 5/18/2009 | See Source »

...could have predicted that Jack and I would be running mates in 1996. We didn't always agree, we ran against each other in 1988, and I was never a total convert to some of his ideas. But we agreed on a 15% across-the-board tax cut and reduced federal spending as key components of our campaign. In the end, the power of ideas, enthusiasm about the future, passion for racial equality, positivity and inclusion brought us together. Jack never claimed his ideas were flawless, but he knew that our party, to become a majority, needed new ideas...

Author: /time Magazine | Title: Jack Kemp | 5/18/2009 | See Source »

...Well it was a tough year for us. When we first took office we were faced with high prices of raw materials and oil, followed by the financial tsunami and economic downturn. We took measures to rescue the banking industry. We also reduced the inheritance tax from 50% to 10%. That has had an affect on Taiwanese capital outside of Taiwan. In recent months, that capital has been coming back. We also distributed shopping vouchers to our citizens. That was a very successful program. We also will inject about $20 billion for public construction. (Read TIME's interview with...

Author: /time Magazine | Title: Taiwan's Ma Reflects on His First Year As President | 5/14/2009 | See Source »

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