2.09.2009

Lifestyles of the Rich and Famous

So, I know I always link to articles from the NY Times, but I think this one is worth it.

I can't decide if it is supposed to be sarcastic or not. If not, I find it really hard to be compassionate toward the excessive pleasures that have found there way into the "needs" category. Are they really making the argument here that rich people need to keep up the same lifestyle because it is what's expected of them by other rich people; that image is everything and must be maintained?

Really, do you need that personal driver? Do you really need that house in the Hamptons or those two or three vacations a year? I really don't begrudge someone for taking vacations (God knows I love vacations), but to justify it as a need that is being infringed upon by these salary caps is beyond me. Also, these caps only apply now to those companies that are seeking government funding which signals to me that despite their lavish lifestyles, these corporate leaders are not doing such a great job anyways. Should they be pitied because their lives might be burdened a little bit because of what might be poor management on their own parts?

These and other questions abound. I would love to hear what everyone else thinks, especially J, the capitalist.

1 comment:

Grawlix said...

Before J jumps in to pretend he knows something about economics and finance, I wanted to share this analysis of this article from dKos. It compares $500k in New York to the salaries of "overpaid" Midwestern union workers who are expected to agree to wage cutbacks in order to save their industries