Word: taxed
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Dates: during 2000-2009
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...bottom line is that the Louvre has a lot more money to play with than in the past. Its annual acquisition budget has jumped from $4.5 million in 2004 to $36 million last year. Changes to French tax law in 2003 have helped: companies now have big fiscal incentives to make donations. But Loyrette has also built out the tiny three-man fund-raising department that Rosenberg set up in the late '90s into a full-time operation with 19 staffers. And the Louvre is about to launch a U.S.-style endowment fund - the first in France - using the money...
...global sport of tax evasion has its moments of intrigue, but it's usually well worth playing, as trillions of dollars in assets find their way to Caribbean shores and Alpine enclaves, safely hidden from the world's tax authorities by no-tell bankers. Or so many ultra-rich Americans have long assumed...
...Birkenfeld is caught up in the latest in a series of efforts by the feds to crack down on wealthy tax cheats and the bankers, accountants and lawyers who help - and in fact, often convince - them to set up offshore accounts not properly reported to the IRS. (It is legal to have an offshore account; hiding it is the no-no.) On Thursday the Senate's Permanent Subcommittee on Investigations will hold a hearing on how banks in offshore tax havens may be helping Americans evade taxes. The hearing adds momentum to efforts already under...
...spending and balance the budget by 2013. He has yet, however, to back up that bold promise with the details of just of how he plans to accomplish it. And economists are skeptical that he can, especially if he also stays true to his commitment to extend the tax cuts that were George Bush's signature economic achievement...
...attempt to embrace two conservative economic models at once isn't helping his credibility. On the one hand, McCain argues for fiscal discipline, with his promises to end wasteful pork-barrel spending (which he mentioned five times during his appearance in Ohio). On the other, with his commitment to tax cuts, he embraces supply-side economics, which maintains that short-term deficits don't really matter...