Friday, June 27, 2014

Rich vs. Super Rich


Hillary Clinton has dug herself into a public-relations hole with her statements about not being wealthy. And she then doubled down by saying that she and Bill were not "rich" because they pay an ordinary income tax rate ... a snide reference to Mitt Romney who mostly pays a capital gains rate.  The Clinton's easily qualify as being rich ... or in the 1% club. Hillary was surely confusing being rich with being super rich. And when these two were in the White House or in the State Department they certainly lived like they were super rich ... possibly this is one reason that they want these circumstance back

The world knows that the Clinton's are easily plutocrats with their large government stipends, secret service protection, two mansions, their multi-million dollar book advances and their six-figure speaking fees. One might also include daughter Chelsea in this category ... she who lives in a $10.3 million apartment and earns $600,000 per year for very little productive work ... see: National Review Story. And add to all of this Clinton wealth, the mega-million dollar (mostly Arab-funded) Clinton Foundation which is a bottom-less honey pot for this family and their large posse of hanger-ons.

But the question does pose itself ... what does being super rich really mean. That old saw that you are not rich if you have to ask the price of anything ... doesn't cut it anymore. So I have constructed what I think would be a newer and better set of tests to determine if one is truly a member of the 1% of 1%-ers ... or super rich.

- If you never wear the same clothes twice
- If your butler has a butler
- If you no longer go to St Barth's because of all the hoi polloi
- If you live off of the interest on your interest
- If you buy a sports team just so you can get the best seats
- If you promise not the bequeath anything to your children
- If you call for higher taxes on the wealthy
- If Warren Buffet asks you to lunch
- If your chauffeur drives his own Maserati
- If your yacht has its own helicopter
- If there are rooms in your mansions that you have never visited

Although they are now only rich, I have no doubt that the Clinton's are well on their way to being super rich and, if they reside once more at 1600 Pennsylvania Avenue, they will make our current lush-loving residents there look like pikers.

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