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America's industrial success produced a roll call of financial magnificence: Rockefellers, Morgans, Astors, Mellons, Fricks, Carnegies, Goulds, du Ponts, Belmonts, Harrimans, Huntingtons, Vanderbilts, and many more based in dynastic wealth of essentially inexhaustible proportions. John D. Rockefeller made $1 billion a year, measured in today's money, and paid no income tax. No one did, for income tax did not yet exist in America. Congress tried to introduce an income tax of 2 percent on earnings of $4,000 in 1894, but the Supreme Court ruled it unconstitutional. Income tax wouldn't become a regular part of American Life until 1914. People would never be this rich again. Spending all this wealth became for many a more or less full-time occupation. A kind of desperate, vulgar edge became attached to almost everything they did. At one New York dinner party, guests found the table heaped with sand and at each place a little gold spade; upon a signal, they were invited to dig in and search for diamonds and other costly glitter buried within. At another party - possibly the most preposterous ever staged - several dozen horses with padded hooves were led into the ballroom of Sherry's, a vast and esteemed eating establishment, and tethered around the tables so that the guests, dressed as cowboys and cowgirls, could enjoy the novel and sublimely pointless pleasure of dining in a New York ballroom on horseback. ↗
Of course, running a coalition government in a country like India is a difficult task. More so when Congress leads the coalition, since most of the political parties were anti-Congress. To have a coalition, to run a coalition government, you require a lot of adjustments, a lot of flexibility. ↗
Tony Blair and Gordon Brown committed to John Major's spending envelopes in 1997. No-one said that Tony Blair and John Major were identical. This happens quite often that parties actually, despite all the sound and fury, agree on the overall need to make sure that we live within our means as a country. ↗
Voters tell politicians what they want through the ballot box. Constantly second-guessing them by speculating whether the parties should gang up on each other misses the point. ↗
#ballot box #box #constantly #each #gang
