Friday, July 01, 2005

 

Friday Pig Blogging: Where are all the professional moralizers when you really need them?

Meaning no disrespect to actual pigs (sus scrofula), of course.

From The Daily Reckoning:
Even if most Americans are facing lean times ahead, the "uber wealthy" intend to continue throwing their uber wealth around.

The "Elite Affluent" (net worth of $10 million+) plan to boost their spending this summer, according to a survey conducted by Elite Traveler/Prince & Associates. These wealthy individuals, for example, expect to spend an average of $317,000 renting yachts, a 19% increase over last summer's yacht-rental expenditures.

"Increased spending by the Elite Affluent provides trickle down economic benefits," beams Douglas D. Gollan, President and Editor-in-Chief of Elite Traveler, the luxury lifestyle magazine of the Elite Affluent which is distributed worldwide aboard private jets and mega-yachts. "The amount of money spent by the Elite Affluent segment of the population is really staggering...[which] is very good news for the luxury segment of the economy."

Happily, even after the uber wealthy spend hundreds of thousands of dollars on jewelry, "experiential excursions" and booze, they still have a few pennies left to toss toward charitable causes. Though the elite affluent will spend six times more money on yacht rentals as on charitable giving, their gifts to charity will still total more than $50,000 apiece.

Thank goodness for trickle-down economics.
So let's by all means eliminate the estate tax; goodness knows, we wouldn't want any of these rich rich rich (and therefore, by current compassionate conservative standards, wonderful perfect deserving) folk not to be able to rent their precious $317,000 yachts next summer.
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