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...DIVORCING. HASSANAL BOLKIAH, 56, Sultan of oil-rich Brunei and one of the world's richest men; from his second wife, former air stewardess Mariam Abdul Aziz; in Bandar Seri Begawan, Brunei. No reason was given for the divorce, which strips her of all royal titles. Rumors had been rife in recent months that the couple were estranged...
...feature a restricted number of staples, about 700 in total. The formula has been a smashing success: in the low-margin world of grocery retailing, where many chains earn a net return of just 1%, Aldi nets as much as 7%. The Albrecht brothers are now among the richest people in Germany. When the euro was introduced, Aldi rounded its prices downward, while many others rounded up. If it comes down to a choice between Germany's paternalistic leaders and Aldi's prices, Aachen's shoppers have no doubt which side they support. "I'm fed up with all these...
This one would go straight to his wallet. In 2002 Greenberg ranked 47th on the Forbes list of the 400 richest Americans, with an estimated worth of $3.3 billion. Much of his wealth was tied up in AIG stock. In 2001, the latest year for which complete data are available, Greenberg owned about 44 million shares of AIG. The company paid 16¢ a share in dividends, meaning Greenberg would have collected $7 million. The President's tax plan would give Greenberg an extra $2.7 million from his newly tax-free AIG dividends. That does not include the dividends he received...
...year, $674 billion tax-cut plan that he believes will stimulate the economy. A central focus of his new tax cuts to bolster growth is the elimination of taxes on stock dividends paid to investors. But because stock owners are disproportionally wealthy, under this new proposal, the richest one percent of Americans would be granted more tax relief than the bottom 95 percent of taxpayers combined. Surely, making the first perogative in tax cuts easing the burden of the rich is not the most effective way to aid citizens who are in dire need of economic relief. Ironically, putting money...
...Bush claimed that “92 million Americans will keep this year an average of almost $1,100 more of their own money.†Using the word “average†to describe a mean tax decrease is deceiving. If the richest taxpayers get tremendous tax breaks, this increases the mean value, making the benefits to poor Americans look larger. The median tax decrease would better reflect the benefit to the “average American,†and would surely be significantly lower...