If there is one idea that everybody seems to agree on while peering over the fiscal cliff, it is that we should close the loopholes that riddle the tax code. It is offered as a painless way to raise money, like fixing a leak or ending some unfair privilege. But there is a problem with this consensus. Many of the things the government promotes with loopholes are truly valuable to lots...
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Changing of the Guard: Signals of a More Open Economy in China
Label: WorldCarlos Barria/ReutersIn November, Xi Jinping made his official debut as party chief at the 18th party congress, which military officers attended. BEIJING — In a strong signal of support for greater market-oriented economic policies, Xi Jinping, the new head of the Communist Party, made a visit over the weekend to the special economic zone of Shenzhen in south China, which has stood as a symbol of...
Many Mobile Apps for Children Fall Short on Disclosure to Parents, F.T.C. Report Says
Label: TechnologyHundreds of mobile apps for children fail to provide parents with basic information on the kinds of sensitive information the apps collect and share about their children, said a new federal report Monday. Only 20 percent of children’s applications found on portable computers and smartphones provided disclosures about their data collection practices, according to a staff report from the Federal...
Mind: A Compromise on Defining and Diagnosing Mental Disorders
Label: LifestyleThey plotted a revolution, fell to debating among themselves, and in the end overturned very little except their own expectations. But the effort itself was a valuable guide for anyone who has received a psychiatric diagnosis, or anyone who might get one. This month, the American Psychiatric Association announced that its board of trustees had approved the fifth edition of the association’s...
Mind: A Compromise on Defining and Diagnosing Mental Disorders
Label: HealthThey plotted a revolution, fell to debating among themselves, and in the end overturned very little except their own expectations. But the effort itself was a valuable guide for anyone who has received a psychiatric diagnosis, or anyone who might get one. This month, the American Psychiatric Association announced that its board of trustees had approved the fifth edition of the association’s...
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Fear of Fighting Haunts Once-Tranquil Damascus
Label: WorldMuzaffar Salman/ReutersA portrait of President Bashar al-Assad outside the venue of a charity concert by the Syrian National Symphony Orchestra in Damascus on Nov. 21. DAMASCUS, Syria — Business has been terrible for Abu Tareq, a taxi driver, so last week, without telling his wife, he agreed to drive a man to the Damascus airport for 10 times the usual rate. But, he said later, he will not be doing...
Bits Blog: Facebook Likely to End Experiment With Democracy
Label: TechnologyA half-million Facebook users have told the social network they do not want the company to change its privacy policy. Sounds impressive, right? Well, the only way that crowd will get its way and the status quo remain intact is if an additional 300 million people vote thumbs down before Monday. Odds of that happening? About zero.Facebook says the changes to the policy are minor and beneficial for users....
New Taxes to Take Effect to Fund Health Care Law
Label: LifestyleWASHINGTON — For more than a year, politicians have been fighting over whether to raise taxes on high-income people. They rarely mention that affluent Americans will soon be hit with new taxes adopted as part of the 2010 health care law. The new levies, which take effect in January, include an increase in the payroll tax on wages and a tax on investment income, including interest, dividends...
New Taxes to Take Effect to Fund Health Care Law
Label: HealthWASHINGTON — For more than a year, politicians have been fighting over whether to raise taxes on high-income people. They rarely mention that affluent Americans will soon be hit with new taxes adopted as part of the 2010 health care law. The new levies, which take effect in January, include an increase in the payroll tax on wages and a tax on investment income, including interest, dividends...
As Recovery Inches Ahead, Banks Face a New Reckoning
Label: BusinessThe nation’s largest banks are facing a fresh torrent of lawsuits asserting that they sold shoddy mortgage securities that imploded during the financial crisis, potentially adding significantly to the tens of billions of dollars the banks have already paid to settle other cases. Regulators, prosecutors, investors and insurers have filed dozens of new claims against Bank of America, JPMorgan...
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