Word: exemption
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This issue is not one of fairness per se, though many argue that it is not fair for a tax-exempt institution, perhaps the wealthiest university in the world, to make what some estimate to be a 600 percent profit (rather than the current estimated 30 percent) at the expense of Cambridge residents...
...father suffered substantial losses in the property market. "She felt she had to live on her meager pension and Social Security. She never spent any of it on herself." She kept some money in savings accounts, but Fay encouraged her to invest in money-market funds and tax-exempt bonds. By the early 1980s her cash flow from interest and dividends was more than $200,000 a year, which she used to buy more tax-exempt notes and bonds. These accounted for 30% of her portfolio at the time of her death...
Harvard can contribute still further, however, because of its hefty financial endowment and tax-exempt status on most other buildings, he said...
...hatchet job designed to finance a $245 billion G.O.P. tax cut for the wealthy. The acrimony between the two parties grew more bitter still when the American Medical Association announced it was endorsing the G.O.P. plan. The apparent quid pro quo: Republicans agreed to spare doctors from fee reductions, exempt them from certain antitrust restrictions and cap large malpractice awards...
While Israel naturally draws the lion's share of Gazan criticism, Arafat and his Authority are not exempt from it. "The Chairman thinks ideologically," says a human-rights worker who, revealingly, does not want to be named. "He is focusing on the basic principle, namely Palestinian independence. He's not interested in day-to-day problems, in infrastructure where we are starting from below zero. The few changes for the better have been trivial, cheap cosmetics. Paving a few roads, some improvement in education and public health--that's it." More trenchant complaints focus on corruption and nepotism...