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...income tax does raise an important question that both Obama and McCain failed to fully answer during the current campaign: How the heck are we going to finance our government? The question has been looming for a while because of the chronic deficits of the Bush years and the soon-to-escalate demands on Social Security and Medicare. It has gained urgency lately, with Washington committing vast sums to fighting financial panic and with more deficit-financed emergency aid surely...

Author: /time Magazine | Title: Time to Pay the Price | 10/31/2008 | See Source »

Networks began exit polling--surveying people leaving voting locations about the ballots they cast--in the 1960s, and it soon became a common tool to predict winners before votes were tallied. But after NBC reported Ronald Reagan's 1980 victory over Jimmy Carter hours before polls closed on the West Coast, Congress held hearings on whether the practice depressed voter turnout, and networks vowed not to project a state's winners until polls close. (Exit polling is protected by the First Amendment...

Author: /time Magazine | Title: A Brief History Of: Exit Polls | 10/31/2008 | See Source »

Joining them soon may be Senator Ted Stevens, Alaska's senior Republican, who was found guilty on Oct. 27 on seven felony counts related to $250,000 of unreported gifts from influential constituents. Stevens, whose political trademark was his immense success at bringing home the bacon--$3.4 billion in federal earmarks for Alaska since 1995--was convicted by a jury in Washington for making false statements about gifts like his new massage chair, a pricey sled-dog puppy and, most of all, massive renovations to his home that were largely comped by Bill Allen, the disgraced CEO of Veco Corp...

Author: /time Magazine | Title: Last Stand | 10/31/2008 | See Source »

Before his conviction, Stevens was locked in a tight re-election race with Anchorage mayor Mark Begich; after the jury returned a verdict, Stevens' poll numbers dipped. But even if Stevens does eke out a victory, he is already facing calls from across his party to resign soon afterward. Both John McCain and Sarah Palin called on Stevens to step down after the election. Under Alaska law, a resignation would set in motion a chain of events leading to a special election to replace him 60 to 90 days later. If he chooses not to resign and his appeals fail...

Author: /time Magazine | Title: Last Stand | 10/31/2008 | See Source »

...Furman was appointed to head the first atomic-intelligence effort and was soon able to report that the Germans had not gotten very far in building a bomb. Two years later, he accompanied Little Boy's uranium core from Los Alamos, N.M., to Tinian Island and watched the Enola Gay take off on Aug. 6, 1945, with its historic payload...

Author: /time Magazine | Title: Robert Furman | 10/31/2008 | See Source »

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