Word: wealthier
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...idea appears to have the support of both Budget Director Richard Darman and Treasury Secretary Nicholas Brady. Darman is intrigued with the idea because he knows he must raise taxes on wealthier Americans if he is to win Democratic support for Bush's cherished reduction in the capital-gains tax; he also knows that Bush is loath to raise income taxes to achieve this. Brady, on the other hand, has long objected to the quick turnover of securities by stock- and bondholders. Ever since he headed a blue-ribbon panel that investigated the 1987 Wall Street crash, Brady has waged...
True to expectation, Bok leaves Harvard a stronger and wealthier institution than when he came to it. Bok restored stability to a campus ripped apart by the '60s, overseeing unprecedented expansion of facilities and programs such as the creation of the John F. Kennedy School of Government. In 20 years, Bok increased the endowment five-fold to about $5 billion--the highest by far of any institution of higher education in the world...
While some worry that an all-cash plan would encourage well-to-do students to eschew house dining halls, many of the college's wealthier students are already spending more time at Elsie's and Pinnochio's than in dining halls...
...would he? Remember, Rawls wants us to choose our political institutions without knowing in advance what place we'll end up holding in the world we design, so it's not enough to say that citizens of the wealthier society are better off "on average." Each of us has only one life to live, and there is no evening-out process that can allow us, the 99 comfortable members of the Pretty-Good Society, to justify our choice to the wretched hundredth, or to ignore the connection between our wealth and that individual's poverty. Again, the real-world intuition...
...money is in real estate, and so is much of the money of most of the successful stockbrokers I know (they sell stocks; they buy real estate). Even if there are fewer baby boomers entering the new-home market, the population continues to grow, and as it becomes wealthier, it will want more living space. So don't buy the new conventional wisdom unreservedly. But even in Los Angeles, where the whole point is to spend more than you can afford, rising values are no longer a given. So it's more important than ever not to buy a house...