In celebration of Labor Day, here is vital new data about the American Upper Class. A new study provides details about a very special segment of the super-rich in America, the people owning jet airplanes outright or fractionally. The New Jet Set "are super-rich, big-time spenders – and this is the first time the details of their spending activities have been available to the public," boasts the report. Some 661 of these people were interviewed, giving us fascinating information on how the super-rich spend their money. These are the upper crust of the huge number of wealthy Americans – the elitists that also control our political and economic system. Their average annual income was $9.2 million in 2005, and their average net worth was $89.3 million.
My objective in presenting this data is to add some punch to the message of gross economic inequality that is a scourge on American society. Millions of working- and middle-class Americans should seriously think about these people and their big-spending ways. This Upper Class is doing everything they can to increase their obscene wealth at the expense of the vast majority of Americans. So, here goes – the following are the average amounts of money spent in 2005 by America's economic aristocracy, with the number of people reporting spending in a category given in parentheses:
Jewelry (588) $248,000 Watches (214) $147,000 Clothes and accessories (592) $117,000 Personal stays at hotels and resorts (432)$157,000 Events at hotels/resorts (485) $224,000 Spa services (381) $107,000 Cruises (136) $138,000 Villa/chalet rentals (183) $168,000 Experiential travel (109) $98,000 Home improvements (494) $542,000 Wines and spirits (563) $29,000 Luxury cars (104) $226,000 Fine art (200) $1,746,000
The report was careful to emphasize that all of its figures were probably too low, because the super-rich economic royalists are unlikely to know the specific amounts they spend on things. They just spend, without dwelling on costs.
Personally, I look forward to a sorely needed Class War right here in the land of lost opportunity. That's what Labor Day should become: A lament about ordinary Americans laboring in a system diseased by economic inequality. Celebrations should become neighborhood and town meetings where people discuss and plot the overthrow of our nation's economic aristocracy. Our enemies are not just overseas, they are our homegrown economic elites and royalists. Let's put some fear into their plump bodies and bloated minds. We're fed up and we're not going to take it anymore – that's what Labor Day should be about.
www.delusionaldemocracy.com
Joel S. Hirschhorn is the author of Delusional Democracy - Fixing the Republic Without Overthrowing the Government (www.delusionaldemocracy.com). His current political writings have been greatly influenced by working as a senior staffer for the (more...)
The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
If Republicans lose control of Congress in 06, or the Presidency in 08, the plutocracy could conceivably crash the market in a rush to take profits on their MIC holdings. Some of the most astute plutocrats have probably started doing so already and are busily wire transferring their profits to foreign banks. The rabble is getting restless.
The Bush regime and Republican congress will do all they can to broaden the war, and no one should be surprised if the U.S. or Israel nukes Iran before the midterm election. But that will open a whole new can of worms and no matter what they do, their dreams of perpetual war are economically unsustainable and Military Industrial Complex stocks are going to drop precipitously. To be followed by an overall market drop due to a belated realization of impending political instability right here in the U.S.of A.
We are in uncharted territory because the masses have lost confidence in both political parties. Things could get ugly.
Heavens, who's going to protect the plutocrats now?
by
rabblerowzer (0 articles, 0 quicklinks, 0 diaries, 227 comments) on Saturday, Sep 2, 2006 at 9:15:07 PM
(0+)
Want to post your own comment on this Article?
How would you rate this?
You must be logged in (if signed up) to do ratings.
It's free to signup! And easy. And takes just a minute or two....
Contact Author
View Authors' Articles
(0+)
Must Read (0) 
Well Said (0) 
News (0) 
Touching (0) 
Funny (0) 
Supported (0) 
Interesting (0) 
Inspiring (0) 
Valuable (0) 
