America is taxing for all but the very rich

Warren Buffett, the world's third-richest man, blasted the U.S. tax system earlier this summer because he pays a lower rate of taxes than his secretary. Buffett said, without trying to avoid taxes, he paid 17.7 percent on the $46-million he made in 2006 while his secretary who made $60,000 was taxed at 30 percent.

Unseemly? Immoral? Outrageous? You bet! This imbalance is a consequence of decades of tax reforms that have benefited those at the top, with a marked acceleration under President Bush.

Secret Document: U.S. Fears Terror 'Spectacular' Planned

A secret U.S. law enforcement report, prepared for the Department of Homeland Security, warns that al Qaeda is planning a terror "spectacular" this summer, according to a senior official with access to the document.

"This is reminiscent of the warnings and intelligence we were getting in the summer of 2001," the official told ABCNews.com. ( That the Bush Administration failed to act on)

U.S. officials have kept the information secret, and Homeland Security Secretary Michael Chertoff said today on ABC News' "This Week with George Stephanopoulos" that the United States did not have "have any specific credible evidence that there's an attack focused on the United States at this point."

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