Are 61% of the cigarettes smoked in New York smuggled? That number ricocheted around the web last week. Whether it's right depends on how much of New York's cigarette sales drop comes from tax evasion, and how much from changes...
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Photographer: Davis Turner/Bloomberg
Smuggling Facts Into the Tax Wars
The Power Ranch community in Gilbert, Arizona Thursday January 12, 2012. (For Bloomberg News/ Laura Segall)
The Recovery Gap, Phoenix Edition
Two stories from Phoenix neatly sum up the mixed economy. Investors and homeowners have benefitted from low interest rates and the Fed's efforts to jump-start the housing market. Investor gains haven't been matched by middle-class income.
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