Word: yachted
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Forbes' rise in the polls has led to a case of me-tooism among his G.O.P. rivals, several of whom quickly announced their flat-tax plans last week even while attacking Forbes' scheme as favoring, in Pat Buchanan's barb, "the boys down at the yacht basin." Buchanan and Senator Phil Gramm offered single-rate tax plans that would retain the popular deductions for mortgage interest and charitable contributions and would tax investment income. A long-shot candidate, self-made tire magnate Morry Taylor, asks why Forbes would charge him nothing on the $15 million he collected last year...
...denounced Steve Forbes' flat-tax plan, for example, as something "drafted on the back of a menu . . . with the boys down at the yacht basin." But his own tax plan would cut inheritance and capital-gains taxes as well as income taxes for the wealthy. The legendary rationale for this kind of tax cut is that if you pump enough wealth uphill, sooner or later some of this money will trickle down to ordinary people in the form of decent-paying jobs. But this can't work when there are, as Buchanan himself says, "two economies" instead of one. Downsizing...
Though they don't lack for cash to pay bills, the royals continue to dun the nation for upkeep on some of their drawing rooms and castles, not to mention the royal train and yacht. All told, the House of Windsor was a $69 million drain on the British treasury last year. Priced at the equivalent of a major theme park, the Disney-Windsor deal could be worth several billion to the government, which also would get a royalty on the royal revenues. The Windsors would be doing something to earn their keep, besides opening Parliament and holding egg rolls...
What is it about the ocean and media moguls? Ted Turner, Robert Maxwell and now RUPERT MURDOCH have all made news on the water. Murdoch, an avid sailor, helped Oracle CEO Larry Ellison win Australia's most prestigious yacht race, the Sydney to Hobart. Although he described his role as "acting as a bit of ballast," Murdoch also took turns at the grinder, in the galley and at the helm during the three-day race. And all this while injured. A few days before the race, Murdoch caught his right index finger between the sail and the boom...
Forbes' competitors have already gone to some lengths to attack him. An aide to a rival campaign leaked word that Forbes' 151-ft.-long yacht, the Highlander, features among its art collection a photograph by the late homosexual artist Robert Mapplethorpe. (Well, yes, but it's a seascape.) Another operative in the same campaign found a waitress in New Hampshire who claims that Forbes left a miserly $2 tip on a $45 lunch bill; others in the party added $6. If these tactics are an indication of the weeks to come, the race is likely to be brutish as well...