Bud Konheim - CEO and co-founder of the luxury-fashion company Nicole Miller - had the following words for 99 percenters when speaking on CNBC's Squawk Box yesterday:
"We've got a country that the poverty level is wealth in 99 percent of the rest of the world. So we're talking about woe is me, woe is us, woe is this. [That] guy making, oh my God, he's making $35,000 a year, why don't we try that out in India or some countries we can't even name. China, anyplace, the guy is wealthy."
What this delusional man is forgetting is that the numbers he mentioned don't mean a thing without context. In the countries he listed (and other unnamed ones), the cost of living is much cheaper than in the U.S. Over the past several years, the top 1-2% in this country have experienced a very large majority of the income increases, while the middle- and lower-classes' incomes have been rather stagnant - all while the costs of living have increased. In other words, while the top 1-2% have flown by life at an even easier rate in recent years (and by flown by, I mean that both figuratively and literally - in their private jets), it has become increasingly difficult for citizens in the lower- and middle-classes to provide the bare essentials for them and their families, let alone to enjoy some free time with their loved ones with extra funds. Most of these people and families are now living paycheck-to-paycheck, and while a worldwide cruise may be taken for granted by people like Bud Konheim, a cheap meal at McDonald's is seen as a special occasion for most other families. If Bud Konheim can live the next year on just $35,000 in this country, while taking care of his family, taking care of his health (and theirs), and honestly say he's happy, I'll remove this blog and with it, the criticism of his commentary. But, considering the man is a millionaire and appears to take for granted what many lack, I have a hunch he wouldn't make it a week without saying, "Where did all my money go? I have how much left? WHAT?!? How can people live like this?" Exactly...
http://www.huffingtonpost.com/2014/02/12/bud-konheim_n_4776616.html
"We've got a country that the poverty level is wealth in 99 percent of the rest of the world. So we're talking about woe is me, woe is us, woe is this. [That] guy making, oh my God, he's making $35,000 a year, why don't we try that out in India or some countries we can't even name. China, anyplace, the guy is wealthy."
What this delusional man is forgetting is that the numbers he mentioned don't mean a thing without context. In the countries he listed (and other unnamed ones), the cost of living is much cheaper than in the U.S. Over the past several years, the top 1-2% in this country have experienced a very large majority of the income increases, while the middle- and lower-classes' incomes have been rather stagnant - all while the costs of living have increased. In other words, while the top 1-2% have flown by life at an even easier rate in recent years (and by flown by, I mean that both figuratively and literally - in their private jets), it has become increasingly difficult for citizens in the lower- and middle-classes to provide the bare essentials for them and their families, let alone to enjoy some free time with their loved ones with extra funds. Most of these people and families are now living paycheck-to-paycheck, and while a worldwide cruise may be taken for granted by people like Bud Konheim, a cheap meal at McDonald's is seen as a special occasion for most other families. If Bud Konheim can live the next year on just $35,000 in this country, while taking care of his family, taking care of his health (and theirs), and honestly say he's happy, I'll remove this blog and with it, the criticism of his commentary. But, considering the man is a millionaire and appears to take for granted what many lack, I have a hunch he wouldn't make it a week without saying, "Where did all my money go? I have how much left? WHAT?!? How can people live like this?" Exactly...
http://www.huffingtonpost.com/2014/02/12/bud-konheim_n_4776616.html
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