"Unearned Income" Heirs of the NYT:Face Tough Times

The American Thinker reports:

Just as the Sulzberger family starts getting used to a 75% cut in their dividend income, more bad news accumulates for the New York Times, their principal source of wealth and prestige. Collectively receiving about $25 million a year, reportedly the bulk of their income, they now will be forced to pinch pennies and survive on under $7 million in what progressives like to call "unearned income." Since there are 27 heirs, that means an average heir goes from ~$1 million a year to merely a quarter mill, making them still rich enough to be "rich" according to Obama, but merely middle class by New York City standards.

Ouch!