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...consequences of these problems at the top of the housing market cannot be underestimated. Congress and the Administration have decided to push more of the tax burden to the high end of the income brackets. Whether this is morally or economically defensible won't matter much if the total tax dollars that comes from people making over $250,000 a year is well below budget. Even if the federal government has a perfect track record of holding to its expense plan for the next two years, IRS receipts could be off by tens of billions of dollars. (See pictures...

Author: /time Magazine | Title: During a Recession, Being Rich Loses Its Luster | 5/8/2009 | See Source »

...Hair” has been nominated for a total of eight Tony awards this year, including Best Actor and Best Revivals of a Musical. The 2009 ceremony will be held on June...

Author: By Manning Ding, CRIMSON STAFF WRITER | Title: Paulus Gets Tony Nomination for ‘Hair’ | 5/8/2009 | See Source »

Chase, Chevy •utter and total lack of public demand - or even, really, tolerance - for the return to network television of is ignored by NBC, which announces plans for the weekly infliction on viewers of in the new show Community, whose ratings are guaranteed to be miniscule at first and shrink dramatically once audiences are exposed to the noxious presence...

Author: /time Magazine | Title: Paul Slansky's Weekly Index of the News | 5/8/2009 | See Source »

...newly imposed government capital requirements on their own, either by selling off parts of their business, converting loans into stock or participating in the fledgling government-led effort to get toxic assets off their balance sheets. And those that are short on cash won't need more in total than the $110 billion to $135 billion the Treasury still has from the original $700 billion in TARP funds that Congress gave the Bush Administration for bank rescues last fall. "There is a reassurance in clarity," Geithner said at a briefing on Thursday...

Author: /time Magazine | Title: Stress Tested: Has Geithner's Bank Confidence Game Worked? | 5/8/2009 | See Source »

...untold fortunes from the national coffers for their personal use - even donations to French political parties of all stripes. According to the Transparency International complaint that Desset has decided to investigate, the Bongo and Sassou-Nguesso families hold 70 and 111 bank accounts in France respectively, and own a total of 31 pricey homes or buildings in and around Paris. They also boast entire fleets of cars in France. Listed in the Obiang Nguema family's holdings are two luxury automobiles and a $44.2 million private jet (though the Equatorial Guinean first family has snubbed Paris' real estate market...

Author: /time Magazine | Title: The Enrichment of Africa's French Allies | 5/8/2009 | See Source »

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