Breakingviews

 
OK, millionaires would. But selling out the 250,000 super-rich by taxing them at Clinton-era rates might be the political compromise needed to avert the fiscal cliff. It would only raise a third less than hiking rates on Americans earning $200,000 but snag 2 mln fewer taxpayers.

Election reveals clear calculus: 47 pct > 1 pct

Ultra-wealthy candidates and supporters - from the billionaire Koch brothers and their man Mitt Romney to pro wrestling maven Linda McMahon - learned the hard way that money can’t buy everything in America. Voting rights can be a great equalizer in a land of income inequality.

O-Burma trip rewards reformists for job half done

Including Myanmar in the president’s first post-re-election trip abroad is reward for dramatic reforms and cultivates a key ally in the U.S. pivot to Asia. But it’s sure to antagonize China’s new leaders - and could reduce pressure on Myanmar to make to make even tougher changes.

Review: Embracing the psychopath within

“The Wisdom of Psychopaths” is a good read lurking within a bad one. Amidst the showboating, Kevin Dutton’s book mines brain science to make a cogent case that some psychopathic traits - seen in CEOs, traders and monks as well as serial killers - are not only necessary, but good.

Lonmin doesn't have to surrender to Xstrata - yet

The big platinum miner spurned 25 pct owner Xstrata’s demand for management change in return for backing its $817 mln rights issue. It can afford to, for now: the fundraising is underwritten and Xstrata is probably loath to be diluted. But after this battle, Lonmin faces a war.

U.S. deal lawyers not as valuable as they may think

Financial markets are indifferent to the legal terms of U.S. public company mergers, new research shows. That may be because most transactions close regardless of the fine print. M&A; attorneys have uses, but agonizing over detailed wording isn’t the best way to serve clients.

Russian economy could lose in state energy grab

Vladimir Putin is reneging on his own government’s privatisation pledges and seems intent on structuring the industry around two national champions, Gazprom and Rosneft. Investors tempted by the Russian energy sector should start applying a heavy Kremlin discount.