Quote from Business Adventures: Twelve Classic Tales from the World of Wall Street
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Quote from Business Adventures: Twelve Classic Tales from the World of Wall Street

It (the income tax law) was, however, subjected to a succession of rate reductions and amendments, one of them being the elimination, in 1865, of its progressive rates, on the arresting ground that collecting 10 per cent on high incomes and lower rates on lower incomes constituted undue discrimination against wealth.

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Insane: mother jailed for letting 9-year old play alone

The Economist has a special on helicopter parents. Unbelievable: “In South Carolina this month Debra Harrell was jailed for letting her nine-year-old daughter play in a park unsupervised. The child, who had a mobile phone and had not been harmed in any way, was briefly taken into custody of the social services.” How are kids…

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What is the opposite of competition?

For Europeans the answer is "solidarity", for Americans it is "monopoly" (from the Economist: Charlemagne – Single Market Bargianing): "A FEW times a year, Charlemagne has the luck to teach students at a European management school in Paris. It is an enlightening experience (for your columnist, at least). One popular question has been why some…

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Spin!

Germans don’t like McCain.  Still was it really necessary to print this picture (right)?  But what is particularly interesting was the subtitle: In the Rheinische Post the descriptionwas "McCain making faces at Obama" (unfortunately, I found this only in print, not online). In Hamburger Abendblatt, it was described as "Obama tripping". In both cases, the…