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...Budget flexibility would help prevent bureaucrats and politicians from making things worse. To make things better, the administration needs to get Japan back on the road to structural economic reform. Since Fukuda became Prime Minister last September, he has not shown much enthusiasm for reform. Now is the time to review this nonagenda. A good place to start would be tax cuts. Japan's effective corporate tax rate of 40% is the highest among developed economies; it should be reduced to 35% or even less. This would not only enhance the international competitiveness of Japanese firms but also give incentives...

Author: /time Magazine | Title: Stop the Rot | 8/28/2008 | See Source »

...children. "I want to ease their workload," says Isa, who aims to secure an NRL contract within two years. Says team-mate Penese: "Family comes first for me. Dad's been a taxi driver since we got here [16 years ago]. I just want to get Dad off the road...

Author: /time Magazine | Title: Power Play | 8/28/2008 | See Source »

...never did. LSD is too strong to take. I write about it in the book. They take it once, and for years afterward, they have these flashbacks. Just driving over a bump in the road on a motorcycle can do it. I tried marijuana once...

Author: /time Magazine | Title: 10 Questions for Tom Wolfe | 8/28/2008 | See Source »

...True, he doesn't do it very often. But he has given compelling speeches that wrapped powerful arguments in lyrical language about honor, battle and victory. His convention speech has a different purpose: it must welcome and then reassure. It must show in plain language not one party's road to victory but what a McCain presidency would mean to all Americans. This is not the sort of convention the GOP does naturally. But in this difficult year, the Republicans must gallop, not walk, along a different path...

Author: /time Magazine | Title: Cue the Ticket Splitters | 8/28/2008 | See Source »

...comes from and I know what he believes.' " After 19 months of hope and change and a summer in which he's been roundly criticized for not sufficiently defining himself, Obama seems finally, belatedly ready to set the record straight - even if he is taking a long and winding road getting to Denver...

Author: /time Magazine | Title: Obama's Slow March to Denver | 8/26/2008 | See Source »

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