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millionaires

Published: 12/19/10

Slum-Touring Millionaires Put Off the Ritz in Israel

By  Matthew Kalman - AOL News
Slum-Touring Millionaires Put Off the Ritz in Israel

JERUSALEM -- Ronald L. Gallatin is a retired attorney, a CPA and a former managing director at Lehman Brothers credited with creating some of Wall Street's most ingenious investment instruments. His wife, Meryl, is a prominent philanthropist in Florida charity circles. But when they visit Israel, they prefer hanging around soup kitchens and drug addict drop-in centers rather than fancy restaurants. Over the past seven years, the Gallatins have given more than $2 million of their own money and raised more than $4 million from friends for a charity they set up "to fill in the cracks" left by ...

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Published: 10/28/10

The Majority of US Senators Are Millionaires

By  Steven Hoffer - AOL News
The Majority of US Senators Are Millionaires

(Oct. 28) -- Just in case you thought money doesn't equal power ... More than half of the U.S. senators are millionaires and four more fall just 100 grand short of the million-dollar mark, according to a recent Roll Call analysis. The survey, based on a review of Senate financial disclosure forms filed in 2010, also indicated that the majority of senators saw their fortunes grow during the past year. While many of the senators amassed their wealth through common means, Roll Call actually makes a point of highlighting the recent prevalence of increased wealth by inheritance in the Senate. For ...

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Published: 10/27/10

Moscow's Super-Rich Turn Out for Millionaire Fair

By  John William Narins - AOL News
Moscow's Super-Rich Turn Out for Millionaire Fair

(Oct. 26) -- Once a year, Russia's nouveau riche make even more of a public spectacle of themselves than usual. Never is their conspicuous consumption more conspicuous than it was at last weekend's Millionaire Fair Moscow, where the world's most unnecessary and overpriced wares are gathered for the ogling pleasure of a few hundred elite Muscovites. The sixth Millionaire Fair was held at the Moscow Manege, the Russian capital's most prestigious convention center, located in the middle of a public plaza adjacent to Red Square and the Kremlin. Fewer oligarchs were to be seen than in previous ...

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Published: 08/12/10

Extending Tax Cuts for Rich Would Add $36 Billion to Deficit, Study Finds

By  Christopher Weber - Politics Daily
Extending Tax Cuts for Rich Would Add $36 Billion to Deficit, Study Finds

Extending Bush-era tax cuts for the wealthiest Americans would pad the federal deficit by up to $36 billion next year, with most of that money going to millionaires, according to a congressional analysis released Wednesday. The nonpartisan Joint Committee on Taxation found that households earning more than $1 million annually would receive nearly $31 billion in tax breaks under the Republican plan to keep the tax cuts going, The Washington Post reported. The average millionaire would see taxes reduced by about $100,000 in 2011. The data will help fuel congressional debate over the tax cuts ...

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Published: 06/10/10

Opinion: Elections Are for Rich People

By  Rachel Sklar - AOL News
Opinion: Elections Are for Rich People

(June 10) -- Would Meg Whitman have won the California primary for the governorship if she hadn't spent $71 million of her own money on her campaign? Probably not -- since she was running against another mega-millionaire, Steve Poizner, who spent $25 million of his own money on his campaign. That's almost $100 million spent to buy a millionaire the chance -- just the chance -- to run for office. For a job that pays slightly higher than $150,000. John Corzine. Michael Bloomberg. Mitt Romney. By now, we're used to ridiculously rich people spending ridiculous sums on campaigns. These people are ...

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Published: 02/4/10

Five Reasons to Be Bullish on America

By  Delia Lloyd - Politics Daily
Five Reasons to Be Bullish on America

I recognize that the mood in the U.S. isn't particularly buoyant right now. Between high unemployment rates, a recent near-miss terrorist attack, and the collective angst around the future of health care reform, Americans of all political stripes are pretty gloomy. Which is why I was shocked to meet someone the other night who's betting the farm on America in the long run. He's a British businessman whom I met at a dinner party. And he recently made the very calculated choice to move his wife and two children to New York City . . . for good. As an American who's lived in the U.K. for 3˝ ...

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Published: 10/1/07

Romney's Biggest Donor

By  David Knowles - Politics Daily
Romney's Biggest Donor

Is Mitt Romney, of course. Smart, sensible people disagree on whether it's wise for our political system to allow millionaires like Romney, or billionaires like Michael Bloomberg, to use their vast fortunes to propel themselves into office. For many in our culture, wealth is seen as an indicator of competence, proof of an able management style. To others, privilege is viewed skeptically. Being born with a silver spoon between the gums says more about an entrenched social hierarchy than it does about job qualifications. ...

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