Word: riche
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Dates: during 1980-1989
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...America," Stage Designer Boris Aronson once said, "you are a genius at 18 and finished at 30." Aronson seemed almost finished at 60, yet when he died at 80, in 1980, he was widely recognized as a genius. The Theatre Art of Boris Aronson, by Frank Rich with Lisa Aronson (Knopf; 323 pages; $75), shows why. The authors (respectively, the drama critic of the New York Times and the artist's widow) use photos and Aronson's vivid sketches and paintings to document the bulk of his more than 100 designs, including Broadway's The Crucible, The Diary of Anne...
...Venice beach, effective next year. Normally liberal Venice, says City Council Aide Rick Ruiz, has become "caught between its conscience and the impact the homeless have on everyday lives." A more cynical view comes from one of the town's few conservative Republicans, who says, "The liberals got rich...
...separation of church and state so seriously, the only holiday it celebrates is the winter solstice. The children sing solstice songs ("Joy to the world, the sun has sunk"?). All in the name of pitting one extreme against the other. Pumping like a bellows, Captain Midlife adds his fine, rich baritone (still pretty fine, pretty rich, don't you think?) to carolers rocketing their voices up, up into the stars...
...mortgage interest that can be deducted. The U.S. mortgage-deductibility provision, contends Economic Commentator Robert Kuttner, is not only antisaving, but inflationary and inequitable as well. Wrote Kuttner in his 1984 book The Economic Illusion: "The effect is to fuel ; housing speculation, drive up prices, and to disproportionately help rich people lower their tax bills. This has the perverse consequence of pricing housing beyond the means of poorer people, and at the same time it soaks up savings that might better be used elsewhere...
...appreciation of real estate values in the 1970s tended to lull U.S. homeowners into the belief that they did not need financial savings as well. The roaring bull market of the 1980s has also contributed to that attitude by creating a so-called wealth effect in which stockholders feel rich on paper. The catch is that home values and stock prices can fluctuate, often cruelly, even though their growth seems so dependable during some periods. Says John Godfrey, chief economist for Barnett Banks of Florida: "If the stock-market crash did anything, it showed us that we can't count...