Taxes

London has more foreign billionaires than anyplace else in the world. Why? Because they pay less in taxes than they would in other large, developed countries. But that tax break is fostering resentment among less-affluent Brits. Stephen Beard reports.

Next week, lawmakers will be voting on a wide array of budget bills. Odds are President Bush will veto anything he thinks spends too much or that hints of a tax increase. But to succeed, says commentator Jeff Birnbaum, he'll need a little help from his friends.

It's going to cost some $250 million to repair the collapsed highway bridge in Minnesota and there are already calls for more federal funds to fix other bridges around the country. So where's Congress going to get all that cash? Jeremy Hobson reports.

The federal government has offered New York City $354 million to pay for Mayor Bloomberg's proposal to charge a fee for vehicles entering the busiest areas of Manhattan. The mayor says it will be good for the economy. Bob Moon reports.

As stands full of baseball fans dream of catching Barry Bonds' record-breaking home run ball, attorney and commentator Conrad Teitell reminds us that finders may be keepers, but Uncle Sam wants his cut.

The IRS is cracking down on hospitals that get tax breaks for providing charity care after a study finds many facilities spend just 1 percent of their revenue helping those who simply can't pay. Helen Palmer reports.

Faced with a budget impasse, Pennsylvania Gov. Ed Rendell sent home state employees, except for "essential" public servants such as police, firefighters, and lottery and gaming workers. Alisa Roth reports.

With The Blackstone Group going public today, Kohlberg Kravis Roberts may be next. But Congress is looking into how private-equity earnings are taxed. So how can anyone know what the companies will be worth? Steve Tripoli reports.

Homeowners in some 21 states are holding their breath, hoping for reform that'll bring property tax relief. Four states have already slashed property taxes. But not everyone shares the joy, particularly schools and other local agencies that rely on tax dollars. Dan Grech reports.

Profits are soaring at private equity firms around the globe, but as more and more jobs are cut and news of their substantial tax advantage makes headlines, private equity's popularity keeps sinking further into the mud. Stephen Beard has details.