Word: beached
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Dates: during 1990-1999
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...second major advantage of a fully-funded system is that it provides individuals with a greater rate of return. A brief example, drawn from work by William Beach and Gareth Davis at the Heritage Foundation, will help me to explain this point. Consider an average household consisting of two 30-year-old working parents with children. In today's dollars, that couple will pay approximately $320,000 in payroll taxes over their lifetime, and will receive $450,000 in benefits during their retirement. This represents an annual rate of return of 1.23 percent. In other words, the Social Security system...
Opponents of privatization argue that the existing Social Security system redistributes income from the rich to the poor, and consequently, is a good deal for most low income families. Nothing could be farther from the truth. According to the work by Beach and Davis, low income families receive only slightly higher returns than the average income household. They earn 1.85 percent on their "investment" in the current system, which is far below the five percent return offered by an investment in a balanced portfolio of government bonds and stocks. Moreover, some minorities earn negative returns in the current system...
Spring is upon us, and rap impresario SEAN ("Puffy") COMBS' sap must be rising. He decided to make love en plein air (but not, interestingly, with the mother of his newborn son). Alas, Combs, who thought he was enjoying the privacy of Donald Trump's Palm Beach, Fla., Mar-a-Lago Club, had strayed onto the sand of the veddy conservative Bath & Tennis Club. A B&T member took offense at the frolicking and sent a club official to stop it; according to the Palm Beach Daily News, an unabashed Puffy blasted the official for "ruining his concentration." A spokeswoman...
Looking at this scenery while flipping through the Ec-10 sourcebook may inspire you to join House crew--or to take a nap. Dotted with blankets, chairs and picnic baskets, on sunny days the river bank might aptly be named Harvard Beach. But bring a friend; the peaceful sanctuary of the River is easily disturbed by the stray shady character strolling along Memorial Drive...
...known jewel of the Balearic Islands. Its attractions tend to be subtler but are often deeper. Over 4,000 years of its inhabited history, Phoenicians, Carthaginians, Romans, Arabs, French and British have come and left their various imprints on Minorcan life, enriching its language and architecture. More than a beach vacation, Minorca is a 270-sq.-mi. museum, filled with ancient treasures. As many as 1,000 archaeological sites dot the countryside. Most of the monuments--including Bronze Age structures and early Christian basilicas--are integral features of the landscape, unfenced and open to all. From the circular stone constructions...