The term for this type of purchase is "WALL POWER".  The individuals that buy art in this league are all very, very wealthy.  They all have several mansion homes, private jets and yachts.  Having a $50 million painting casually hanging on a wall is one's way to show their status to others that also have "silly money".

Let's redistribute all the private wealth in the USA equally to every citizen.  Guess what, in 10 years we would be back to the same inequities.  Some individuals are workers, savers, investors, builders and entrepreneurs.  They will soon have the redistributed wealth of the others; those who are lazy, unmotivated, sat...more

It is easy to point a finger at the "rich" because none of us feel we are the "rich". The same "rich" people have already paid huge income, self employment, and state taxes BEFORE they die.      Does anyone pro estate tax realize the federal income tax rate before the Kennedy tax cuts was 85% on any income over $250,...more

Another myth that should be examined is that if one leaves their wealth to others in the form of a trust there is no estate tax.  THIS IS JUST NOT TRUE.  A trust simply avoids the costs of probate, not the costs of estate taxes.  In fact, if one skips a generation (leaves the wealth to a grand child instead of the chil...more

Does Liz have a private consulting job with the I.R.S.?  It sure sounds like it from her flippant attitude.  Her hidden point is we should be happy and pleased to (using the new liberal buss word for taxes) “contribute” to the bottomless spending pit in D.C.

The Tuskegee Air Men NEVER fought in the Pacific Theater, and contrary to popular urban myth,  they lost many bombers under their escort.      While it had long been said that the Redtails were the only fighter group who never lost a bomber to enemy fighters, [12] suggestions to the contrary, combined with Air Force ...more