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...squabble over the richest 1% is both symbolic and a bit silly. Obviously, any across-the-board tax cut is going to deliver the biggest dollar savings to the wealthiest Americans - they are after all the ones paying the most tax. Bush's conservatism tells him that no one should have to hand over more than a third of his paycheck to the Federal Government and that a big tax cut strangles future government spending, stimulates the economy and, yes, trickles down. But he knows he can't sell the tax cut by talking about the fairness of giving high...
When a man knows he is to be hanged in a fortnight," quipped essayist Samuel Johnson, "it concentrates his mind wonderfully." For Liechtenstein, the tiny banking haven snuggled on Switzerland's eastern border, concentration seemed in order last June. After years of cajoling, the world's richest nations had placed the principality on a blacklist of countries that failed to adopt sufficiently tight rules to deter money laundering. Although no specific misdeeds were mentioned, the designation by the Financial Action Task Force on Money Laundering would have made dealings with those countries difficult for major foreign banks. Banking and related...
...FATF was established by the world's seven richest nations in 1989. The principality is not alone in being prodded for failing to do enough to stop the flow of dirty money. In June this year, a French parliamentary committee lambasted Monaco, another tiny kingdom-cum-tax-haven, for imposing so few financial controls that "money laundering can thrive." Last February Austria narrowly escaped being booted out of the FATF, which has grown to 26 member governments and two regional organizations, by agreeing not to permit any more anonymous savings accounts to be opened. Even Israel was scolded...
...about the media posts e-mail from media professionals. (A recent topic: a schoolyard fight between journalists and p.r. agents in which the reporters accused the flacks of being overly aggressive and underinformed.) Investment bankers prefer vault.com where they can keep tabs on which of their colleagues is getting richest and who's sleeping with whom. On greedyassociates.com young lawyers gripe about working conditions and compensation. And truckers can compare rigs and routes on truckinlife.com...
Giving the world's richest nation a break on its dues isn't popular among the poorer U.N. members, and how they vote may depend on how Congress votes on another piece of legislation this month. The White House wants to give the U.N. $739 million next year for its peacekeeping operations, which have been growing in number. A tightfisted Congress, however, seems ready to spend only $500 million...