Word: superrich
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2000
Sort By: most recent first
(reverse)
While most people can imagine affording a vacation in Tuscany, how many can manage to settle there? Certainly only the superrich can afford a big farmhouse with breathtaking views or a medieval castle with an inviting tower. Yet those with limited funds may find a decent apartment in a small town, such as Montalcino, for $300 a month...
...junk the estate tax, which currently reaches rates as high as 55%. The House passed a repeal bill in June, and with few changes, the Senate signed off on it last month. President Clinton has vowed to veto the bill, which he calls a tax break for the superrich, and there does not appear to be enough support for an override. Still, the issue promises to have legs...
...resistance to repeal has deep populist roots that are hard to dig out. And there is no point denying it: repealing the estate tax would benefit the superrich. Short of communism, any plan to get rid of a tax that many see as immoral is bound to help billionaires. So what? The barrels of ink spilled on this point miss the mark...
Still concerned about the privileged getting too big a break? Take solace in the fact that the current repeal bill would hit the superrich with an additional levy on capital gains that common folk will never see. So it would not be a total free ride for the well-to-do, while for small-business owners, it would be welcome relief...
Worried Democrats in Congress, backed by the White House, proposed an alternative that would raise the amount that can be inherited tax-free from $2 million to $4 million and would exempt farms altogether. That, Democratic leaders hope, would keep the debate focused on the estates of the superrich. It's classic Clinton: embrace the popular parts of the plan of your opponents, and make them defend the unpopular parts. It was rejected last week...