Befitting my red-green pedigree, I have long been wary of left critiques of the existing state of affairs that focus on income and wealth inequality, since the implicit political message is that more equitable distribution of Land Rovers and designer handbags would be some kind of drastic improvement.
But when the disparities become so mind-bogglingly obscene, putting those of the Gilded Age to shame, I seriously wonder why there aren't armed retinues or paramilitary squads penetrating the fortresses of these world-class assholes and committing unspeakable acts. JG Akita, Japan Michael Perelman posted: "take Oracle's founder, Lawrence J. Ellison. Mr. Ellison's net worth last year was around $16 billion. And it will probably be much bigger when the list comes out in a few weeks. With $16 billion and a 10 percent rate of return, Mr. Ellison would need to spend more than $30 million a week simply to keep from accumulating more money than he already has, to say nothing of trying to spend down the $16 billion itself. He spent something like $100 million on his Japanese-style mansion in Woodside, Calif., making it among the more expensive private residences ever built. But that is only about three weeks worth of the interest he earns on his wealth. And a house doesn't actually spend down his net worth because it is an asset that can be resold. At least part of the $100 million is just a different way of saving. Mr. Ellison would have to spend that $30 million a week - $183,000 an hour - on things that can't be resold, like parties or meals, just to avoid increasing his wealth. While somebody might be able to spend like that - Paris Hilton, maybe - it certainly wouldn't be easy, and it can't explain why the super-rich accumulate." _________________________________________________________________ Win a Zunemake MSN® your homepage for your chance to win! http://homepage.msn.com/zune?icid=hmetagline
