Max Baucus, declaring himself “unconstrained” by electoral politics for the first time since coming to Congress in 1975, placed a 20-month clock on his efforts to push a tax-code rewrite through the U.S. Senate.
Is the U.S. tax code an instrument of torture? At almost 4 million words, it is 14 times as long as the collected novels of, say, Franz Kafka. It has been changed 4,680 times since 2001 -- more than once a day, according to the IRS Taxpayer Advocate. And it takes taxpayers (individuals and businesses) more than 6 billion hours to complete their filings.
The trial that will determine the extent of any liability London-based BP Plc and its partners must face for the April 2010 Gulf of Mexico oil spill is set to begin today in federal court in New Orleans.
<p>Mardi Gras, with its masquerade balls, beads, and floats is a financial fest for New Orleans. One million people will jam the city's streets during the two weeks leading up to Fat Tuesday (Feb. 21), says Jennifer Day at the New Orleans Convention & Visitors Bureau. In 2011, those visitors had a $300 million economic impact on the city, accounting for 1.5 percent of New Orleans' gross domestic product, according to a study of Mardi Gras prepared by Toni Weiss, an economics professor at Tulane University.</p> Source: Photograph by Gerald Herbert/AP