The Rich | featured news

What millionaires moving to save on taxes says about them, and us

You can tell a lot by a country by how it deals with a new world of a plutocratic elite for whom national boundaries are but arbitrary lines on a map. And you can tell a lot about individual members of that elite by how they choose to deal with a world in which countries compete for their affections with low taxes.


France's 'rich tax' means Paris mansions for sale

French Mansion

France’s new 75 percent income tax on the rich may not be popular with millionaires. But it’s being cheered by another group: Paris real-estate buyers. Real estate agents say that the number of multimillion-dollar real-estate listings in Paris has jumped more than 25 percent over last year – due in part to the threat of the new income tax. More than 400 new listings have come onto the luxury real-estate market over the past six months, they say.


Romney’s class warfare

Now, at least, there can be no doubt about who is waging class warfare in this presidential campaign. Mitt Romney would pit the winners against the “victims,” the smug-and-rich against the down-on-their-luck, the wealthy tax avoiders against those too poor to owe income tax. He sees nearly half of all Americans as chumps who sit around waiting for a handout.


Finally, A Billionaire Defends The Billions That She Earned

Clearly tired of being dissed, vilified and attacked for her wealth, the outspoken Ms. Rinehart wrote an article full of unapologetic statements of economic truth. A choice sample: “There is no monopoly on becoming a millionaire. If you’re jealous of those with more money, don’t just sit there and complain. Do something to make more money yourself—spend less time drinking, or smoking and socializing and more time working.”

Senh: Of course, Forbes would defend her controversial statement.


Majority in U.S. say rich pay too little in taxes

As the income gap between rich and poor widens, a majority of Americans say the growing divide is bad for the country and believe that wealthy people are not paying enough in taxes, according to a new survey. The poll released Monday by the Pew Research Center points to a particular challenge for Republican presidential candidate Mitt Romney, whose party's policies are viewed by a wide majority as favoring the rich over the middle class and poor.


Tax havens help rich hide $21 trillion, study shows

Thanks to lax international tax rules the world’s super rich have siphoned at least $21 trillion into secretive tax-free havens, according to a study by UK campaign group Tax Justice Network.


Most Americans Support Tax Hike For The Rich

Barack Obama

Americans support raising taxes on the rich by a two-to-one margin, with many believing an increase would both help the economy and make the tax system fairer, according to a Pew poll released Monday afternoon. Forty-four percent of adults surveyed said that raising taxes on incomes above $250,000 would help the economy and increase fairness, while 22 percent said it would hurt the economy and 21 percent that it would make the system less fair.


New details about Romney's wealth confirm F. Scott Fitzgerald's quip about the rich

Romney Vacation

News sources report that Mitt Romney's financial portfolio has included an offshore company in Bermuda that remained invisible to voters. But it may be images of the Romney clan vacationing at their $8 million summer compound on a lake in New Hampshire that have more impact... Photos of the Romney clan riding jet skis and a large power boat on vacation in New Hampshire this week led Boston Globe columnist Joan Vennochi to wonder if this was Mr. Romney’s “John Kerry moment” or perhaps proof of F. Scott Fitzgerald’s famous line about the rich: “They are different from you and me.”


Obama hits political notes in 'Buffett Rule' speech

President Obama used a Tuesday speech to not only push legislation enacting the so-called "Buffett Rule," but also outline his vision for the economy versus Republican presidential rivals.


Occupy Protesters Plan March From New York To D.C.

Occupy Protesters Plan March From New York To D.C.

Occupy Wall Street is going on the road – a two-week walk to Washington. A small group of activists plans to leave Manhattan's Zuccotti Park at noon Wednesday and arrive by the Nov. 23 deadline for a congressional committee to decide whether to keep President Barack Obama's extension of Bush-era tax cuts. Protesters say the cuts benefit only rich Americans.

Senh: It doesn't look good. Barack Obama has already pulled the millionaires' tax on his jobs plan to get the Republicans to pass it. Let's see if the Occupy movement can make a difference.


Subscribe to this RSS topic: Syndicate content