Your comments also dovetail with a recent article in the NYT (that I blogged about at http://tinyurl.com/yz6wgey) reagarding the growing animosity toward the rich and the soak-the-rich tax trend.

One of the fears noted in the Times piece is that this anti-rich attitude is affecting young people and stifling their desire to be creative and make money.

My philosophy, despite my emotional conflict mentioned earlier, is that money or having a lot of it is not inherently nor automatically bad. But we do need to be cognizant of using our money well, regardless of how much or little we have.

I used to work at a company where I was paid a lot of money, probably considered “rich” by many people’s standards. I never started a business and hired people. What percentage of people that have lots of money (rich) have actually started businesses and hired people.

I don’t know the answers to these questions, but I would like to know whether all the people that generally throw that statement around really know either.

A young, earnest college student was very involved in local liberal politics, aghast at the gap in income and lifesyle between the poor she saw in public housing near her Ivy League campus, and the grand homes on the “other side of the tracks”. She felt strongly that redistributing this wealth through taxation was the only fair solution.

At home over Thanksgivng break, she was sharing her new enlightenment with her family (who paid for her tuition and car) as well as discussing her concerns about her roomate, who was in damger of flunking out. The roomate had a fondness for late night frat parties, Jack Daniels at 10 am, and rarely went to class.

Her father suggested: “Why don’t you go to the Dean and offer to give one of your Grade Points to your friend. The she would have a 2.0 and you would still have a 3.0″?

The daughter replied, “That isn’t fair. I never miss class, I only go out on Saturday nights, and study all the time!! Why should I give up my hard-earned 4.0 average to her because she doesn’t study?!?”

“Exactely” replied her father with a smile.

I teach the children of the uber-wealthy. And I am not jealous at all. I drive a 10 year old ford, my students drive new BMWs. My house could fit in their living rooms, and they have seen places I can only dream to go.

Yes, some hard-working parents are gone sometimes 12-14 hours a day. And it shows. I have a closeness with my kids, after quitting an amazing job and going part time, that money cannot buy.

The one and only thing that I find mildly irksome is the built in opportunities that these kids get. It’s great that they do, but many do not appreciate their place of privilege. I have heard many of them say that if you are poor, you are either lazy or stupid, or made poor choices. I ask myself- what choices did a middle schooler make to end up in a world class public school, or a lousy school? None. And their opportunities in life will likely follow accordingly, no matter how hard they work, or smart they are. No “entre”.

What bothers me is how people give anecdotes about those who rise above as evidence. I would not want “outstanding achiever” to be the standard by which we are all measured. If it were, then why aren’t all the privileged kids out there being Bill Gates and changing the world? Out of the self-made wealthy – the money is typically gone 3 generations down.

And to the Prada handbag comment-I think mild indulgence is normal, but immersing oneself in indulgences is vulgar. When I lived in Brooklyn, it always bothered me that the local Bishop had a heated driveway, but people went hungry on the same block.

Some folks, however, might assume this man is flaunting his money because they are struggling to make money to pay for a place to live. They might think it is just incredible that what they have paid for their homes is what this man has paid for a vehicle just to take him back & forth to work and to the grocery store. Might seem a bit much to them.

That’s just my thought on how someone might think/feel when watching a luxury type vehicle like that go by.

Indeed. this is the issue. How you earned your money, for example–how you choose to use it to better the world which allowed you to earn it. If it is via exploitation or outright fraud, or theft, not so good. The suspicion is often that people do make money off the blood/sweat/more of others because it IS the case–white collar fraud and theft are rampant. It’s one thing when someone creates a company and then compensates those who actually “build” and maintain it…but that is often not the case. It isn’t just the owners who struggle for years to build a company. One person, no matter how great, cannot build a huge company. It takes LOTS of people.

Ethical behavior is an issue for people at any point on the soci-economic scale.

Unfortunately, we live in a world where you are penalized for your lack of wealth (small businesses can’t get discounts that big businesses get, therefore they can’t compete and they can’t make money) daily, no matter how hard you try. The less you have, the less you can get and the more it will cost you.

Inherent skill, talent, etc. only go so far. Capitalism is great in theory. Not so great in reality as we’ve seen.

Lots of great people never make it in business while some real frauds do get ahead. So being “rich” or “poor” financially is no real barometer of anything.

IMHO, so much of the anger and envy comes from the differences in how people with/without money are treated. If you have money, you getthe opportunities, the goodies, etc. that are just shoved at the well-off. While much of that is often subsidized by the poor.

I have to laugh when you see these celebrities given all the free gifts and swag at events for companies who basically sell their stuff to the middle-class and poor. Pathetic.

These people, who have money, rarely want to pay for stuff. That’s why people get upset and angry.
(Mr. Big Shot Actor. You make money cause we go to your movies. When we stop going, see how much you’ll have.)

Same with the heads of companies who run them into the ground, put workers out of jobs and keep selling companies to make profits for themselves, while dumping pension fund obligations on the taxpayers and paying themselves off with incredible contracts, even when they lose money. (Can you say major airlines? Meanwhile, the pilots and other employees are deprived of pensions, benefits and have their salaries reduced. Hello. THESE people ARE the airlines. Not the suits in an office with software plotting prices.)

The world is unfair. Unfortunately, the literal price of that unfairness, in jobs, opportunities, healthcare, housing, has become so challenging (and the gap so wide) that hard-working people have become resentful, with cause.

Millions of people do their jobs, and more. Work hard and smart. Never get raises or advancement (always some excuse) even as the heads of a company manage to get more perks. You wonder why people are upset and jealous?

how would you feel if all you did each day was make someone else wealthy? Cause that is what millions do every day with no benefits, including healthcare.

All work has meaning. All people have value. Money is not the measure of a man or woman.

People talk this talk, but they don’t walk it.

No wonder people are depressed and frustrated.

There’s nothing wrong with having nice stuff. But flaunting it, as so many do, or assuming YOU are better than others, as many do, is where the problems come in.

People with money judge those without and find them lacking. It’s been interesting to watch the “victims” of the Madoff scandal. Especially the most vocal ones, who want the government to pay them for what they lost. THIS is why regular people go crazy: If you’re STUPID and greedy (no, it doesn’t apply to everyone who invested, but it applies to a lot of them) and you lose money, why is it suddenly the taxpayers’ problem–you don’t need to be a wharton grad to know you NEVER put all your money into a single investment? It’s not YOUR problem when working people can’t get healthcare or affordable housing, is it. Now, all of a sudden, you know what doing without and loss is all about. Welcome to the real world.

Is there anyone who can give me a clear definition of “over the top” cars? Like… What? BMW’s? Mercedes’? Just any sports car?

Last night when I was working, I had a customer come in for a battery. I noticed the Porsche crest on one of his keys, looked up and saw a Cayenne parked outside. So I asked if it was his. He replied that it was his wife’s, so I told him that she had very good taste in cars. He replied back that he had a 911 himself! Very nice guy, very unassuming; looked to be retired and wearing just plain old clothes. Now, I can’t guess as to the price of the 911, because that requires more specifics, but the Cayenne is a ~$95k SUV new. Obviously very well off, but extremely nice.

Over the top though? Hardly. From the brief conversation we had he loves his 911 and understands that Porsche built that to be a driver’s car — they’re meant to be driven and enjoyed. I can’t wait to get my own Porsche 911. I’ll be ready for all the envy with that, people already give us a bunch of flak for our 8 year old Honda. (Many seem to think she’s brand new, but she’s been out for ten years.)

This is just something weird I struggle with when it comes to money — people hating on cars because they don’t understand the attraction for some of us to them. Heaven forbid you drive something nice, because then you’re “flaunting money.” Even if you really love the car and bought it to enjoy yourself. (Because you can afford to do so.)

There is a lack of ethics and personal responsibility in both the rich and poor populations.

Behavior needs to be separated from wealth.