Word: taxed
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Dates: during 1980-1989
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...stock-market crash. Last week, however, Bilzerian finally made what will probably be his most lasting mark on Wall Street. In the first jury verdict to arise out of the Government's three-year crackdown on insider trading, Bilzerian was convicted on nine counts of securities fraud and tax violations...
...biggest employer left is the local school district, which pays no taxes, is $11 million in debt and plans to lay off a quarter of its teachers for the next academic year. The tax base has eroded from $175 million in 1965 to less than $50 million. Property values are so low that the town's tallest structure, the vacant twelve-story Spivey Building, was sold for $25,000. The number of retail businesses is less than 200 and steadily declining. The population, once 80,000, has shrunk to 55,000, 97% black and two-thirds on welfare...
...remain determinedly upbeat, citing an ambitious $437 million plan for developing the East St. Louis riverfront that would include a cargo port, recycling center and high- rise apartments overlooking the river and downtown St. Louis. But no work has been done on the project for three years, and the tax-exempt status of the bonds sold to finance it is under review by the Internal Revenue Service. "I'm still optimistic," Officer insists. "We'll haul ourselves up by our bootstraps." But attorney Rex Carr, a lifelong resident of the city, has a dimmer view. "East St. Louis today doesn...
Members of the House and Senate took in more than $9 million in honorariums last year. The more powerful the legislators, the more invitations come their way. Freshman Representatives without a good committee assignment hardly get invited at all, but Dan Rostenkowski, whose committee writes the tax bills, collected the most money of all, $222,500. Jim Wright so easily surpassed the $34,500 that legislators are allowed to keep for personal use that he allegedly used sales of his book to get around the limit...
...book deal that is at least as unorthodox as Wright's. When Gingrich co-wrote Window of Opportunity in 1984, he formed a limited partnership and gathered $105,000 from 21 conservative supporters to underwrite the project. Window sold only 12,000 copies, but the lost investments turned into tax write-offs for the backers. Gingrich's wife Marianne was paid a salary of $11,500 for her work in helping establish the partnership. Democrats filed a formal complaint about the book deal with the House ethics committee in April; Common Cause joined in last month, and Gingrich expects...