I was being kind. Its more like 20 years behind Thr cigar smoking hasn't been popular among the wannabes in the US since 1995. In addition, conspicous consumption is long out of style unless you are a rapper from the hood. Surf
Despite all their money they do what is in style.... what better way to illustrate that their only special feature is that they ended up with a pile of money in life.
Not to validate or invalidate any points made, but talking of cigars reminded me of this scene in the Floored: Into The Pit documentary, reminiscing of "the good old days": http://bit.ly/1zCAZPv 19 minutes 9 seconds in
These look like "nouveau rich" posing to make themselves feel better. How many billionnaires in the lot?
The base salary of Apple chief executive Tim Cook was increased by almost 43% in February last year, according to the technology giant. Mr Cook's salary rose to $2m (£1.3m) from $1.4m, and his total remuneration more than doubled to $9.2m in 2014. The base salaries for other executives were also increased by over 14% to $1m, the company said in its annual report. Apple's New York-listed shares had hit a record high last year, while almost 40m iPhones were sold. The increase to Mr Cook's salary was the first since November 2011. He became chief executive in August that year following the death of Steve Jobs. In the report, Apple said the increases were given after reviewing data provided by its independent compensation consultant about the arrangements of its competitors. The executive team's bonuses were also increased to a maximum of 400% of the member's salary. Windfall for Ahrendts In November, Apple was worth more than $700bn after its stock hit a record high of $119.75. The stock was trading at $112.29 in New York on Friday, valuing the company at $658bn. Angela Ahrendts, the former Burberry chief executive who joined Apple last year in the newly created role of senior vice-president, retail and online stores, was awarded a bumper package worth just over $73m (£48.6m). Former Burberry chief executive Angela Ahrendts was awarded a package worth $73.3m last year by Apple The total included share options worth $37m to compensate for those she lost by leaving Burberry, along with $33m given as a "golden hello". Ahrendts' base salary was $1m, and she was also paid a $1.6m cash bonus and a hiring bonus of $500,000. Total compensation for Luca Maestri, Apple's chief financial officer, topped $14m - also exceeding Mr Cook by a substantial margin. However, Mr Cook was awarded a pay package worth $378m when he took the top job - mostly comprised of share options that he will receive in 2016 and 2021. Meanwhile, Apple said that Millard "Mickey" Drexler, who has been a director on its board since 1999, will step down in March. The former boss of Gap and chief executive of J Crew was a close ally of Mr Jobs and was credited with Apple's push into opening its own retail stores. Drexler's replacement has not yet been announced. Did the thousands nearer the bottom of the financial heap get pay awards ? If they did it was so small as not worth a mention. An annual Wealth Tax on millionaires of 10% is long overdue
$1,000,000 at todays expected conservative return is about 4%. So that's an annual income of 40k if you retire with 1 million dollars. And you want to tax that at an extra 10%? And for those of us that have no earned income so no government tax shelter have paid taxes on it every year already. And you want more?
I was thinking more of keep your first million but pay tax on the next and above. You will hardly even notice the loss plus there is the churn factor. People going off to sleep on their capital savings would probably keep trying longer. Plus your primary residence would be exempt ( don't want the rich living rough do we ? )
we want more people retiring earlier, not working longer. Jobs are still in short supply, and every time someone retires a new one (their old one) opens up and so it goes on down the line