Word: riche
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Dates: during 1980-1989
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...running back John McNiff earning Ivy League Sophomore of the Year honors. Unanimous selections for the first team were guard Mike Davis, Garrett, defensive tackle Steve Hillegeist, linebacker Franco Pagnanelli and cornerback Frank Leal of Princeton, running back Bryan Keys of Penn, linebacker Mitch Lee of Cornell and safety Rich Huff of Yale...
Within the United States today, the richest one percent of the population now owns over half the wealth in this country and the richest 10 percent owns over 80 percent of the wealth (excluding home ownership). The gap between the rich and the poor is growing wider. Further, with the recent "merger mania" and the incredible growth of huge, multinational corporations, a handful of corporate executives now exercise unprecedented power over the economic life of the nation...
What does it mean to the concept of honest political "debate" when, in the 1980's both parties supported huge tax breaks for the rich and large corporations, when both parties supported major cutbacks in funding for education, housing, environmental proection and desperately-needed social services, when both parties supported major increases in military spending and the 8-year-old C.I.A.-Contra was against Nicaragua...
American museums have in fact been hit with a double whammy: art inflation and a punitive rewriting, in 1986, of the U.S. tax laws, which destroyed most incentives for the rich to give art away. Tax exemption through donations was the basis on which American museums grew, and now it is all but gone, with predictably catastrophic results for the future. Nor can living artists afford to give their work to U.S. museums, since all the tax relief they get from such generosity is the cost of their materials. Thus, in a historic fit of legislative folly, the Government began...
Like many another entrepreneur, Bond had never given much thought to art until he got rich. "This Pie-casso, now," he asked an Australian museum man over dinner in Sydney in the early 1980s, "is he worth having?" But a major impressionist collection was what Bond hankered after. He knew this could not possibly come cheap. He didn't care. He was, in short, a dealer's dream: Billionaris ignorans, a species now almost extinct in the U.S. but preserved (along with other ancient life-forms) in the Antipodes...