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Keyword: millionaires

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  • GOP Candidates Inflexibility On Tax Increases Shows They Are Out Of Touch With Americans

    08/12/2011 11:07:25 AM PDT · by Oldeconomybuyer · 40 replies
    ABC News ^ | August 12, 2011 | by Mary Bruce
    Reacting to last night’s GOP presidential debate, the White House said today that the 2012 candidates proved themselves to be out of touch with Americans by saying they would refuse to accept tax increases as part of a debt deal. In Ames, Iowa last night the candidates were asked if they would refuse to accept a budget deal with a 10-to-1 ratio of spending cuts to tax increases. All eight presidential contenders raised their hands. “That’s clearly not where the American people are,” Principal Deputy Press Secretary Josh Earnest told reporters today. “That basically puts these candidates in a position...
  • Millionaires Don't Pay Taxes? 1,470 of America's Richest Didn't, According to IRS

    08/11/2011 10:28:50 PM PDT · by americanophile · 51 replies
    L.A. Weekly ^ | Aug. 8 2011 | Dennis Romero
    Southern California has more millionaires than just about anywhere else in the nation, with L.A. coming in at No. 1, Orange County at No. 4, and San Diego ranking No. 6 in cities with the most seven-figure-plus households in 2008. So maybe we should feel a little guilty, especially as President Obama and the GOP are headed toward draconian federal cuts, the United States' credit rating is down a notch, and the stock market is diving like a conservative congressman in a bathroom stall. Because many millionaires and billionaires, it was revealed today, don't pay taxes like you and me:...
  • Can Everyone Become a Billionaire?

    07/23/2011 7:17:40 AM PDT · by Kaslin · 30 replies ^ | July 23, 2011 | John C. Goodman
    I'm going to tell you something that Barack Obama doesn't understand. And because he doesn't understand it, our country is wasting hundreds of millions of dollars at a time when we cannot afford to waste hundreds of millions of dollars. Time and again President Obama has told us how he intends to solve our health care problems: spend money on pilot programs and other experiments; find out what works and then go copy it. He's also repeatedly said the same thing about education. The only difference: in education we've already been following this approach with no success for 25 years....
  • Reclusive copper heiress leaves $38 million to nurse

    06/23/2011 1:48:16 PM PDT · by Responsibility2nd · 40 replies
    Yahoo ^ | 06/23/2011 | By Liz Goodwin
    A reclusive copper heiress who spent the past decades living in New York City hospitals has left most of her $400 million fortune to charity--and a nurse who was randomly assigned to care for her 20 years ago. The New York Post reports that Huguette Clark did not leave a penny to her family members. The lion's share of her fortune will go to a foundation to promote the arts. She left the biggest chunk of the remaining inheritance--a testament worth about $38 million--to her private nurse, Hadassah Peri. She also left Peri her collection of dolls and dollhouses, which...
  • “Patriotic Millionaires” to Congress: Hurry up and tax us already, please

    06/08/2011 4:44:34 AM PDT · by SeekAndFind · 16 replies
    Hotair ^ | 06/07/2011 | Allahpundit
    A palate cleanser via the Daily Caller dedicated to a very special man who’s still not worried that we’re headed for a double-dip recession. Anytime we write about the “raise my taxes!” crowd I feel obliged to remind them that they’re perfectly entitled to raise their own taxes whenever they like. Here’s the link; every dollar that goes towards paying down the national debt means a little extra tax revenue isn’t going towards interest payments and can therefore be applied elsewhere.Give generously, kids, because guess what? The government added $5.3 trillion in new financial obligations in 2010, largely for retirement...
  • How to un-make a millionaire: first, move to California…

    06/02/2011 5:11:27 PM PDT · by landsbaum · 1 replies
    Say you made a million dollars a year. Congratulations. You made yourself a millionaire. It’s yours. Well, not so fast… How could you un-make yourself a millionaire?
  • Thomas Sowell: Slaves to Words. “Millionaires” aren’t the source of our troubles.

    05/17/2011 7:02:11 AM PDT · by SeekAndFind · 10 replies
    National Review ^ | 05/17/2011 | Thomas Sowell
    We could definitely use another Abraham Lincoln to emancipate us all from being slaves to words. In the midst of a historic financial crisis of unprecedented government spending, with a national debt that outstrips even the debt accumulated by the reckless government spending of the previous administration, we are still enthralled by words and ignoring realities. President Obama’s constant talk about “millionaires and billionaires” needing to pay higher taxes would be a bad joke if the consequences were not so serious. Even if the income-tax rate were raised to 100 percent on millionaires and billionaires, it would still not cover...
  • Despite hard times, more millionaires

    05/13/2011 5:33:10 PM PDT · by SeekAndFind · 11 replies
    PhillyBurbs,com ^ | 05/12/2011 | Dr. Mark W. Hendrickson, Grove City College
    Recently, CNN's posted an article bearing the title, "U.S. Millionaires Population Expanded by 8 Percent in 2010." According to the article, there are now approximately 8.4 million millionaires in the United States, and last year's increase was due primarily to rising stock prices, following a 27-percent decline in the number of millionaires in 2008 due to the stock market's plunge that year. What is one to make of this information? There were only a few thousand millionaires in the United States in 1900. One would expect there to be many more today with the enormous economic growth of the...
  • So, Donald Trump, Now That Obama Has Released His Birth Certificate, Release Your Tax Returns

    04/27/2011 7:32:06 AM PDT · by SeekAndFind · 77 replies
    Business Insider ^ | 04/27/2011 | Henry Blodget
    A week ago, Donald Trump said he would release his own tax returns when Obama released his birth certificate. Well, now Obama has released his birth certificate. So, Mr. Trump, when can we see your tax returns?
  • Tax Me, I'm Rich, Says Deep-Pocketed Group of Millionaires Demanding Higher Taxes

    (SUCH MANIPULATION!..ANYBODY THAT WANTS TO, CAN PAY AS MUCH TAX AS THEY WANT TO THE GOVERNMENT....this is mindgame propaganda and I especially love the strategic "criticism" of Obama....contrived! how transparent can you be!) By ALAN FARNHAM April 12, 2011 Patriotic Millionaires for Fiscal Strength--rich guys in favor of raising taxes on themselves and other wealthy people--say they are irritated over President Obama's failure to do just that. Nor do they believe his latest announcement that he intends to try again, says Erica Payne, founder of the Agenda project and coordinator of the Patriotic Millionaires campaign. The president, when a...
  • 'Patriotic Millionaires' Ask to Be Taxed More

    04/13/2011 9:46:06 AM PDT · by SeekAndFind · 64 replies
    National Journal ^ | 04/13/2011 | Ben Terris
    If President Obama's deficit-reduction speech today includes a call to end the Bush-era tax cuts for the wealthiest Americans, there will surely be pushback; Republicans have already begun a preemptive attack on raising taxes. One group of millionaires, however, is saying that they are more than willing to pay more for the good of their country. The “Patriotic Millionaires” penned a letter to Obama, Senate Majority Leader Harry Reid, and House Speaker John Boehner, urging them to “increase taxes on incomes over $1,000,000.” The Millionaires—a group that includes producer and director Doug Liman, actress Edie Falco, the founder of,...
  • There Aren’t Enough Millionaires. The rich can’t fund our deficits

    03/14/2011 7:03:39 AM PDT · by SeekAndFind · 15 replies · 1+ views
    National Review ^ | 03/14/2011 | Kevin D. WIlliamson
    This may sound like a liberal parody of conservative economic thinking, but let me put it out there: America’s problem is that the rich don’t have enough money. There, I said it. Let’s rumble. When it comes to the Scrooge McDuck set, the problem isn’t that they’re not rich enough, it’s that there aren’t enough rich — not enough to do what liberals want to do, anyway, which is to balance the budget by increasing taxes on them. Let’s deploy some always-suspect English-major math: There are lots of liberal definitions of “rich.” When Pres. Barack Obama talks about the rich,...
  • Wealthier Than Thou (How about a tax on pious, sanctimonious multi-millionaires?)

    01/07/2011 6:24:17 AM PST · by SeekAndFind · 14 replies
    Weekly Standard ^ | 01/07/2011 | Stephen Hayes
    During the final two months of 2010, the United States enjoyed what was perhaps the most sustained public discussion of debt and deficits in a generation. Erskine Bowles and Alan Simpson, the co-chairs of President Obama’s National Commission on Fiscal Responsibility and Reform, released their provocative report. Former Clinton administration budget director Alice Rivlin and noted Republican deficit hawk Paul Ryan put out a comprehensive debt reduction proposal. Mitch Daniels, governor of Indiana and a potential 2012 Republican presidential candidate, offered specific proposals to reform the entitlements that are most responsible for driving the country deep into the red. My...
  • Millionaires to Obama: Tax us (reverse peristalsis alert)

    11/19/2010 12:50:30 PM PST · by chickadee · 49 replies · 1+ views
    Yahoo ^ | 11-19-10 | Rachel Rose Hartman
    Anti-tax activists everywhere have been loudly arguing for an extension of George W. Bush-era tax cuts for the wealthiest Americans in the United States. Now a group of millionaires is arguing the opposite. More than 40 of the nation's millionaires have joined Patriotic Millionaires for Fiscal Strength to ask President Obama to discontinue the tax breaks established for them during the Bush administration, as Salon reports. "For the fiscal health of our nation and the well-being of our fellow citizens, we ask that you allow tax cuts on incomes over $1,000,000 to expire at the end of this year as...
  • Europe, a place fit for politically correct millionaires?

    10/01/2010 11:17:24 AM PDT · by WesternCulture · 3 replies
    10/01/2010 | WesternCultue
    According to numerous media sources and several highly esteemed philantropic organizations all over the World, Europe, Canada, NYC, LA, certain corners of South East Asia and Australia boast the best surroundings for eco-friendly prosperity and success found on this planet. Especially Europe does. If we are to trust the experts in this field, conditions for successful human life are better in Scandinavia and Central Europe than anywhere else on Earth. Being Scandinavian, I won't deny I enjoy reading about how foreigners praise my corner of the World and talk of our our nations as an enviable place in which to...
  • 7 Millionaire Myths

    08/15/2010 2:55:20 PM PDT · by prisoner6 · 55 replies ^ | August 15, 2010 | Claire Bradley
    We all have are preconceptions about millionaires: they're tax evaders who just inherited their money from rich Aunt Flo, and they hang around the golf course all day with their snobby, elitist friends. So what's the average millionaire really like? Here are seven millionaire myths, and the real facts about the ones who seem to have it all.
  • Al Gore’s Net Worth Jumps From $2 Million in 2000 to $100 Million in 2008

    So what has Al Gore gained from his Big Green escapades? >>According to public disclosure information, Gore was worth somewhere between $1 million and $2 million in 2000. Not quite eight years later, Gore is estimated to be worth somewhere in the neighborhood of $100 million. While I ordinarily would applaud such financial gains from such a short period of time, I can’t help but to question just how it happened. When you look out at what Al Gore has done, it’s evident that he figured out on a way to capitalize on the creation of Big Green while becoming...
  • (Top 10)Countries with the Most Millionaires

    06/21/2010 8:09:38 AM PDT · by greatdefender · 4 replies
    Business Week via Yahoo! ^ | June 20, 2010 | Venessa Wong
    As the financial markets rebounded in 2009 and developing markets continued to grow, lost wealth around the world returned. Despite the volatile global economy, many households gained or regained millionaire status last year, according to a new report by the Boston Consulting Group. The study finds global wealth increased 11.5 percent in 2009, to $111.5 trillion, just short of 2007 levels. When measuring assets under management -- cash deposits, money market funds, listed securities, and onshore and offshore assets, but not wealth attributed to investors' own businesses, residences, or luxury goods -- the U.S. continued to lead with more than...
  • Sarah Palin's Earnings Over 9 Months Estimated at $12 Million

    04/13/2010 6:47:06 PM PDT · by pissant · 63 replies · 1,758+ views
    CBS ^ | 4/13/10 | Brian Montopoli
    Former Alaska governor has earned roughly $12 million since stepping down from her job as Alaska governor at the end of July, according to a "conservative estimate" on the part of ABC News. Palin had been making $125,000 per year as Alaska's governor. The controversial 2008 Republican vice presidential nominee was reportedly paid $7 million for her book "Going Rogue," mostly after she stepped down. She is said to be getting $250,000 per episode for her television series on the Learning Channel and charge up to $100,000 deliver a speech, which she does regularly. ABC News writes that Palin's earnings...
  • Sarah Palin Has Earned an Estimated $12 Million Since July

    04/13/2010 7:45:31 AM PDT · by Zakeet · 120 replies · 2,712+ views
    ABC News ^ | April 13, 2010 | Matthew Mosk
    Pundits can debate the political costs and benefits of Sarah Palin's decision to step down as Alaska governor, but the monetary advantages of leaving her $125,000-a-year public service post are beyond dispute. Since leaving office at the end of July 2009, the 2008 Republican vice presidential nominee has brought in at least 100 times her old salary – a haul now estimated at more than $12 million -- through television and book deals and a heavy schedule of speaking appearances worth five and six figures. That conservative estimate is based on publicly available records and news accounts. The actual number...
  • GM Chief Gets $9 Million Pay Package ('GOVERNMENT MOTORS' CEO Gets $9 Million Pay Package)

    02/19/2010 4:15:41 PM PST · by kcvl · 12 replies · 406+ views
    'GOVERNMENT MOTORS' CEO Gets $9 Million Pay Package...
  • Taxing The Rich, Wealthy Avoid New Jersey, Study suggests high-tax states pay a stiff price

    02/04/2010 6:48:13 PM PST · by Coleus · 20 replies · 903+ views
    Forbes ^ | 02.04.10 | Ashlea Ebeling
    A new study suggests that states that target the rich for tax hikes may pay a stiff price.  It's not just that some wealthy people may flee those states. The bigger problem is that they won't move there.  At least that's the implication of a new analysis of wealthy folks' movements into and out of New Jersey from 1999 through 2008. In all, the state suffered a $70 billion net outflow in wealth from 2004 through 2008, compared with a $98 billion net inflow in the prior five years. The Garden State's reversal in fortune was due to a large...
  • Katie Couric Gets Some of Her Own Class Warfare Medicine for $14m Salary

    02/03/2010 9:17:24 AM PST · by Nachum · 26 replies · 1,871+ views
    Newsbusters ^ | 2/3/10 | Lachlan Markay
    Katie Couric may be getting a taste of her own populist medicine. When the Dow hit 10,000 last October, she (and other network news personalities) used the opportunity to bemoan massive payments to Wall Street bankers. But now the populist sentiment has turned on her. She faces dramatic pay cuts as CBS News downsizes Couric, shown in a, er, file photo at right, "makes enough to pay 200 news reporters $75,000 a year! It's complete insanity," one CBS News insider told the Drudge Report. "We report with great enthusiasm how much bankers are making, how it is out of step...
  • The Pathology of the Rich Socialist

    12/12/2009 10:56:38 PM PST · by neverdem · 40 replies · 2,132+ views
    American Thinker ^ | December 13, 2009 | Selwyn Duke
    People such as George Soros and Michael Moore certainly talk a good game, but the next Mother Teresa they are not. Mother Teresa never criticized the free-market system; wealth just wasn't for her. Soros and Moore are quite the opposite. They will never take a vow of poverty and dedicate themselves to helping the poor. They just want our civilization to take a vow of poverty and become poor. This has caused many to wonder: How can someone preach socialism while being the most rapacious "capitalist" imaginable? Well, I have a theory about this. It has often been observed that...
  • The Man Who Quietly Bankrolled the ACLU (David Gelbaum quits - $19 million annually *POOF* gone)

    12/10/2009 7:52:17 PM PST · by Libloather · 18 replies · 1,465+ views
    Gawker ^ | 12/09/09
    The Man Who Quietly Bankrolled the ACLUOne man's annual donation apparently made up 25% of the operating budget of the American Civil Liberties Union. And that guy, David Gelbaum, had a bad year. So... hope you didn't need to sue the government in 2010. Gelbaum gave the ACLU $20 million, anonymously, every year. But he will be unable to make that donation this year, forcing the organization to scramble to solicit donations that they'll have to share with state chapters. Gelbaum is an ex-hedge funder who retired a couple years ago to become a reclusive investor in green technology and...
  • Senator John Kerry out million$

    12/05/2009 12:59:53 AM PST · by raccoonradio · 43 replies · 2,211+ views
    Boston Herald ^ | 12/05/09 | Dave Wedge
    The nation’s richest senator - the Bay State’s own John Forbes Kerry - has been knocked down a few notches after seeing his fortune sliced by one-third by the fiscal meltdown that ripped down Wall Street. Kerry’s personal net worth plunged from an estimated $336 million in 2007 to $208 million in 2008, according to a study by the Washington-based Center for Responsive Politics. The Boston Democrat’s staggering losses dropped him from first to third among the wealthiest senators, trailing Herb Kohl (D-Wis.) and Mark Warner (D-Va.) “So does this mean Senator Kerry is now arriving in Nantucket by ferry...
  • Millionaires Club

    11/17/2009 6:19:01 AM PST · by Graybeard58 · 19 replies · 698+ views
    Waterbury Republican-American ^ | November 17, 2009 | Editorial
    One in every 100 Americans have a net worth of $1 million or more, but millionaires are much more common on Capitol Hill; 237 members of Congress, or 44 percent, claim the distinction, according to, though it's likely many more are millionaires. As corrupt Democratic Sen. Christopher Dodd and Democratic Rep. Charles Rangel of New York have demonstrated, members are allowed to undervalue their foreign real-estate holdings without consequence. Further, rules made by members for members exempt their residences (at home and in Metro Washington) and six-figure congressional incomes from disclosure and thus the net-worth calculation. Meanwhile, as joblessness...
  • Report: 237 millionaires in Congress

    11/06/2009 8:11:20 PM PST · by guitarplayer1953 · 34 replies · 1,379+ views
    Politico ^ | 11/06/09 | Erika Lovley
    Talk about bad timing. As Washington reels from the news of 10.2 percent unemployment, the Center for Responsive Politics is out with a new report describing the wealth of members of Congress. Among the highlights: Two-hundred-and-thirty-seven members of Congress are millionaires. That’s 44 percent of the body – compared to about 1 percent of Americans overall. CRP says California Republican Rep. Darrell Issa is the richest lawmaker on Capitol Hill, with a net worth estimated at about $251 million. Next in line: Rep. Jane Harman (D-Calif.), worth about $244.7 million; Sen. Herb Kohl (D-Wis.), worth about $214.5 million; Sen....
  • Wealthy homosexual activist advises ‘active measures’ against religious opponents

    10/16/2009 4:42:27 AM PDT · by NYer · 48 replies · 2,293+ views
    cna ^ | October 16, 2009
    David Bohnett Los Angeles, Calif., Oct 16, 2009 / 03:55 am (CNA).- Delivering an acceptance speech for a GLSEN award, a wealthy homosexual activist has attacked Catholic leaders, saying they are among his movement’s “greatest adversaries.” He called on his allies to combat “head-on” religious organizations opposed to homosexual causes and to take “active measures” against them. At its Oct. 9 Respect Awards event in Los Angeles, the Gay, Lesbian and Straight Education Network (GLSEN) honored David Bohnett, the cable network HBO and screenwriter Shonda Rhimes with its Lifetime Achievement Award. They were awarded for what GLSEN called “their...
  • Who Wants to be a Millionaire?

    10/10/2009 3:55:56 PM PDT · by Graybeard58 · 7 replies · 771+ views
    Forbes ^ | 09.30.09 | William Baldwin
    Socialists will find much to be appalled by in this issue of FORBES. The combined net worth of our featured plutocrats comes to 2.4% of the country's total. Confiscate the loot and you'd have some real money to spread around. Not that it will stop a committed redistributionist, but the chart of wealth here puts the lopsided results of the economy in a slightly different light. On the horizontal scale we have Bill Gates on the left. People with $50 billion on hand are scarce. Lower the bar to $1 billion, though, and rich people are a dime a dozen....
  • Filmmaker Says Capitalism Has Wrecked His Life

    10/04/2009 12:21:07 PM PDT · by John Semmens · 55 replies · 2,161+ views
    Though he has profited by over $50 million selling his product in the marketplace, left-wing filmmaker Michael Moore contends that capitalism hasn’t done him any good. “If I made all that money, where is it?” Moore asked. While wags may jibe that there is ample evidence that Moore has put a large portion of his profits into augmenting his personal girth, Moore contended that “a system that allows a person to frivolously spend on items that endanger their health, like America does, victimizes people.” Moore argued that “a socialist government like Cuba would’ve still let me make movies, but would...
  • Millionaire Filmmaker Michael Moore: ‘Capitalism Did Nothing For Me’

    10/01/2009 1:13:48 PM PDT · by jmcenanly · 32 replies · 995+ views
    CNS News ^ | Thursday, October 01, 2009 | Nicholas Ballasy
    Documentary film director Michael Moore, who has become a millionaire thanks to the profits from his movies, told that “capitalism did nothing” for him. spoke with Moore on the red carpet at the Uptown Theatre in Washington, D.C., on Tuesday night before the premiere of his upcoming documentary, “Capitalism: A Love Stor
  • Multi-Millionaire Radical Michael Moore Says "Capitalism Did Nothing for Me" - Video 10/1/09

    10/01/2009 12:01:36 PM PDT · by Federalist Patriot · 19 replies · 619+ views
    Freedom's Lighthouse ^ | October 1, 2009 | BrianinMO
    Here is video of radical leftist Michael Moore - who has made millions with his films that trash America - actually saying that "Capitalism did nothing for me." Here is a man who has thrived in a Capitalist society who hates the very economic philosophy that enabled him to do whatever he wanted to do. Yet, he is doing everything he can do to destroy the American Economic System that made it possible, not only for him, but for everyone. He is too stupid to even recognize that capitalism is what built a nation that allowed him to even have...
  • Forbes 400 Richest Americans- Almost all of America's wealthiest citizens are poorer this year.

    10/01/2009 1:56:44 AM PDT · by dennisw · 13 replies · 1,224+ views
    yahoo ^ | Wednesday, September 30, 2009 | Forbes
    America's super rich are getting poorer. For only the fifth time since 1982, the collective net worth of The Forbes 400 — our annual tally of the nation's richest people — has declined, falling $300 billion in the past 12 months from $1.57 trillion to $1.27 trillion. Faltering capital markets and real estate prices, along with divorce and fraud, pushed the fortunes of 314 members down and drove 32 plutocrats off the rankings. Hurt the most: Warren Buffett, America's second-richest citizen. The Oracle of Omaha dropped $10 billion from his personal balance sheet as shares of Berkshire Hathaway fell 20%...
  • America's Richest Lose $300 Billion In A Year

    09/30/2009 7:48:58 PM PDT · by Dallas59 · 9 replies · 664+ views
    Sky News ^ | 09/30/2009 | Sky News
    merica's richest people are getting poorer, according to this year's Forbes 400 list. The annual ranking of the 400 wealthiest US citizens shows their net worth has dropped by $300bn, from $1.57 trillion to a paltry $1.27 trillion. That includes a loss of nearly $40bn for the top ten alone. The decline can be attributed to the global economic crisis, which has affected the capital and housing markets, as well as fraud and divorce, causing 314 returning members to record a loss. Warren Buffett, who remains at number two, was the worst affected by the world recession, losing $10bn over...
  • Gov. Rick Perry's wealth fueled by land deals

    09/26/2009 11:45:28 AM PDT · by BuckeyeTexan · 27 replies · 1,378+ views
    DallasMorningNews ^ | 09/26/2009 | AP
    Gov. Rick Perry never had much money growing up, and he has spent most of his adult life in public office, drawing a part-time salary as a legislator and relatively modest earnings in statewide office for the last quarter century. But thanks to his investments and a series of private land deals, some that took advantage of his political connections, Perry has squeaked over the millionaire line, records examined by The Associated Press show. Perry's Democratic opponents have suggested that Perry traded on his power and influence to turn a buck. Now that he is in a tough primary for...
  • Wall Street’s New Gilded Age (Wall Street players thrive, Main Street dives)

    09/12/2009 7:07:27 AM PDT · by SeekAndFind · 21 replies · 1,271+ views
    Newsweek ^ | 9/12/2009 | Niall Ferguson |
    Since its birth, the United States has grappled with the problem of an over-mighty financial sector. With the exception of Alexander Hamilton, the Founders' vision was of a republic of self-reliant farmers and small-town tradesmen. The last thing they wanted was for New York to become the London of the New World—a mammon-worshiping metropolis in which financial capital and political capital were rolled into one. That was why there was such resistance to creating a central bank, and why—despite two attempts—we have no Bank of the United States to match the Bank of England. That was why populists railed against...
  • Fortune helped fuel Kennedy family legacy, agenda

    08/31/2009 12:16:55 PM PDT · by presidio9 · 72 replies · 2,703+ views
    Associated Press ^ | Sun Aug 30, 2009 | STEVE LeBLANC
    Sen. Edward Kennedy's family fortune not only fueled his brothers' presidential campaigns and his eight terms in the U.S. Senate, it also helped drive the family's liberal legacy and forge Kennedy's lifelong crusade for universal health care. Just how wealthy was Kennedy when he died Tuesday at the age of 77 after a yearlong battle with brain cancer? Untangling a family fortune that reaches back to the early days of the past century is murky business, but the annual federal financial disclosure reports Kennedy was required to file provide at least a' partial glimpse into his personal capital. As a...
  • Congressman forgot to report millions on taxes

    08/28/2009 11:06:29 AM PDT · by Heather Hogue · 22 replies · 960+ views
    Examiner ^ | August 28, 2009 | Heather Hogue
    Charles Rangel (D-NY) failed to disclose millions on his taxes, including a $1 million dollar house. The list of forgotten disclosures goes on and on...for years...
  • Top Democrat fund-raiser for Obama, Hillary arrested

    08/25/2009 5:16:11 PM PDT · by RobinMasters · 72 replies · 5,154+ views
    WorldNetDaily ^ | August 25, 2009 | WorldNetDaily
    Hassan Nemazee, a multimillionaire Iranian-American investment banker and top Democratic Party fundraiser, was arrested today by federal law enforcement authorities in New York City and charged with engaging in criminal fraud for his role in arranging a $74 million dollar loan from Citibank, Bloomberg reported. U.S. Attorney Prett Bharara in New York City and FBI investigators told Dow Jones Newswires the 59-year-old Namazee applied for the Citibank loans for Nemazee Capital Corp. by giving Citibank "numerous documents that purported to establish the existence of accounts in Nemazee's name at various financial institutions containing many hundreds of millions of dollars." According...
  • Rangel’s Wealth Jumps After Disclosure

    08/25/2009 1:56:24 PM PDT · by thought · 13 replies · 830+ views
    House Ways and Means Chairman Charles B. Rangel , already beset by a series of ethics investigations, has disclosed more than $500,000 in previously unreported assets. Among the new items on Rangel’s amended 2007 financial disclosure report were an account at the Congressional Federal Credit Union worth at least $250,000, an investment account with at least $250,000, land in southern New Jersey and stock in PepsiCo and fast food conglomerate Yum! Brands. None of those investments appeared on the original report, which was filled out by hand and filed in May 2008. According to the original report, Rangel’s net worth...
  • Annie Leibovitz, photographer of stars, faces ruin

    08/23/2009 9:09:22 AM PDT · by OldCorps · 154 replies · 6,501+ views
    Breitbart ^ | August 23, 2009 | unk
    Annie Leibovitz is as famous as the people she photographs but now the genius behind the lens is close to financial ruin -- a victim, some say, of her own relentless artistic ambition. Among the qualities making Leibovitz, 59, the most sought after portrait photographer in the world are legendary perfectionism and the pouring of resources into lavish sets. Over the course of her long career, nothing has been too extreme in Leibovitz's pursuit of the perfect picture. She put former action icon and current California Governor Arnold Schwarzenegger on top of a mountain, submerged black actress Whoopi Goldberg in...
  • Obama Vacations Where the Elite Meet

    08/23/2009 10:45:06 AM PDT · by nickcarraway · 34 replies · 1,488+ views
    NBC ^ | Sun, Aug 23, 2009 | NIA-MALIKA HENDERSON
    As the health care debate rages on, President Barack Obama will begin a week-long vacation Sunday in Martha’s Vineyard, an enclave of liberal royalty far from middle America, where his approval numbers are starting to stall. Already, at least one group on the right is taking a jab at Obama over his beach vacation — at a 28-acre farm, said to rent for up to $50,000 a week. Obama has struggled against the perception that he has trouble connecting with average voters, and some are questioning his choice of a getaway spot for the well-to-do. “The danger for President Obama...
  • Rise of the Super-Rich Hits a Sobering Wall

    08/21/2009 7:35:53 AM PDT · by Cheap_Hessian · 53 replies · 1,253+ views
    The New York Times ^ | August 20, 2009 | David Leonhardt and Geraldine Fabrikant
    The rich have been getting richer for so long that the trend has come to seem almost permanent. They began to pull away from everyone else in the 1970s. By 2006, income was more concentrated at the top than it had been since the late 1920s. The recent news about resurgent Wall Street pay has seemed to suggest that not even the Great Recession could reverse the rise in income inequality. But economists say — and data is beginning to show — that a significant change may in fact be under way. The rich, as a group, are no longer...
  • Wealthy Hollywood producer paid for NKorea flight

    08/05/2009 9:59:15 PM PDT · by kcvl · 11 replies · 1,116+ views
    A wealthy Hollywood producer paid for the flight that carried former President Bill Clinton and two American journalists home from North Korea, a California businessman confirmed Wednesday. Stephen Bing, a close Clinton friend and longtime Democratic fundraiser, is the plane's owner, said Marc Foulkrod of Burbank, Calif., chairman of Avjet Corp., the company that manages the aircraft. Foulkrod said the Federal Aviation Administration "at the highest levels" cleared the flight plan, which required an exception because U.S. planes are not allowed to fly into North Korea. The effort to set up and clear the flight only started four to five...
  • Are Millionaires All They’re Cracked Up to Be?

    07/27/2009 2:37:56 PM PDT · by Jbny · 20 replies · 1,942+ views
    Commentary Magazine ^ | 7/27/2009 | Max Boot
    In trying to pay for the Democrats’ grandiose health-care plan, President Obama has endorsed the concept of a “millionaires’ surtax.” Leave aside for a moment the consideration that not even this would raise the revenues necessary to pay for the Democrats’ designs; they will be forced to increase taxes on those earning considerably less than $1 million a year. Still, it’s clear why they’ve focused on milking millionaires as the way to fund their plans. Millionaires are seen as the symbols of excess — far removed from the “middle class” to which all politicians pay obeisance. Surely they can afford...
  • Corzine Seeks Campaign Donations After a Decline in His Wealth

    07/16/2009 5:30:31 PM PDT · by reaganaut1 · 11 replies · 621+ views
    New York Times ^ | July 18, 2009 | David M. Halbfinger
    Of all the gloomy economic indicators since the Wall Street collapse, perhaps the most startling one seen by New Jersey residents is this: Gov. Jon S. Corzine with his hand out. Mr. Corzine, 62, famously spent $60 million of his own money on a record-shattering Senate race in 2000, then $43 million more laying siege to Trenton four years ago. But now, after a costly divorce and a steep decline in his net worth, Mr. Corzine, the onetime chief executive of Goldman Sachs, is in the unfamiliar position of seeking donations to help foot the bill for his campaign. It...
  • More Millionaires Ring the Bay (12,590 New Millionaires in the Bay Area)

    07/16/2009 4:48:11 PM PDT · by nickcarraway · 10 replies · 362+ views
    NBC Bay Area ^ | Thu, Jul 16, 2009 | JACKSON WEST
    As the economy struggles, and most of us with it, a few more join the seven-figure clubThe number of millionaire families in the Bay Area jumped 10.2 percent, from 123,621 to 136,120, according to a report from Merrill Lynch and Claritas. Similar gains were won by the wealthy in Los Angeles and San Diego, according to The World Wealth Report. What, no word on Fresno? Scott Anderson, a senior economist with Wells Fargo, takes issue with the report. "As a reading of the health of California's wealthy, I'm not sure that's the best indication to go by," Anderson told the...
  • Flashy Va. Businessman Vanishes, Leaving Huge Debts Behind (Steals from Banks Leaves Country)

    07/16/2009 9:39:39 AM PDT · by khnyny · 17 replies · 2,021+ views
    The Washington Post ^ | July 16, 2009 | Derek Kravitz
    Subtlety was never one of Osama El-Atari's strong suits. The son of Jordanian immigrants was a self-described "car nut" who racked up a fierce number of speeding tickets across Northern Virginia. He told a reporter that he owned two Lamborghinis, two Ferraris and a Rolls-Royce Phantom, among other vehicles, and that his insurance bill was $18,000 a month. One car dealer said El-Atari would occasionally bring a chauffeur to dealerships. The Loudoun County restaurateur tried to show off his wealth whenever he could, by donating thousands to local political candidates or purchasing expensive sports memorabilia at charity galas. He told...
  • Hawaii: Most millionaires per population (MD, NJ, CT and VA round out top 5)

    07/13/2009 12:44:24 PM PDT · by SeekAndFind · 9 replies · 740+ views
    Hawaii continues to lead the nation in the percent of millionaires per overall population. Phoenix Marketing International of New York defines a millionaire household as one with $1 million or more in investable or liquid assets, excluding sponsored retirement plans and real estate. The marketing firm announced Friday the number of millionaires in the U.S. has declined by 14 percent over the past two years. But 6.4 percent of Hawaii’s households, or 28,363, are millionaires. That’s down from 7.26 percent in 2008 but still high enough of a percentage to lead the nation for the second year in a row....