Word: wealth
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Dates: during 1980-1989
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...dream. Says Louis DeSantis, who has sold New York lottery tickets at his Lower Manhattan newsstand since 1967: "People know they're not going to get rich on what they're making, so they invest a dollar and wish." But despite well-publicized accounts of overnight wealth (see box), a person is about 31½ times as likely to be killed by lightning as to win New York State's Lotto jackpot. "Sure, somebody wins," says Myron Powell, a retired Congregational minister who fought against the Massachusetts lottery a decade ago. "But 900,000 people lose, most...
...dealing with Mexico's endemic corruption. He has created watchdog offices for public spending and jailed Jorge Diaz Serrano, former president of the state-owned PEMEX oil giant, on charges of defrauding the company of $34 million. He has also allowed the government to investigate the suspicious wealth of former Mexico City Police Chief Arturo Durazo Moreno, and confiscated some of his ostentatious properties...
...given up sit-down dinners for 40 in favor of buffets for ten and less expensive champagne (Veuve Cliquot instead of Dom Perignon). The elderly count in Provence dwells in one wing of an otherwise shuttered château he hesitates to sell because of the government's "wealth tax" of up to 2.5% on assets over...
...consumption and not on what they put in. To protect the poor, personal exemptions would be double those under the current income tax, and the tax rate for the bottom income brackets would be lower. The estate and gift tax would be restored to check the growth of dynastic wealth. Americans would thus be encouraged to save and invest during their lifetimes, and the Government would at their death recoup some of the taxes forgone...
...exhibit is called the "Wealth of the Ancient World." And the fortune that bought it is one of the largest in the modern world. Eight years ago, Multimillionaires Nelson Bunker Hunt, 58, and William Herbert Hunt, 55, set out to build the finest collection of Greek corns possible. The 166 pieces in the show, which also includes priceless vases and Hellenic and Roman bronzes, have already been on display in Detroit, Fort Worth and Richmond, Va. Last week they came to Dallas, the Hunts' home town, and the brothers dropped by the new Museum of Art for a look...