At some point, extra incomes don't go to sate desires but to attempt to buy status through 'positional goods' - like the hottest car on the block. The problem is that there can only be one hottest car on the block.
Sentiment: NEGATIVE
I had the notion that, OK, so now we have all of this wealth, we could buy not only one expensive car, we could buy all of them. As soon as you realize that you could buy all of them, then none of them are particularly interesting or satisfying.
I think true economic class unhappiness comes from when across the street someone has a new Cadillac and you can't get that.
You have to let the market reward effort and skill. But a system in which inequality of incomes constantly increases over time is worrisome.
The percentage you're paying is too high priced While you're living beyond all your means And the man in the suit has just bought a new car From the profit he's made on your dreams.
Driving with one foot on the accelerator and the other on the brake is likely to get you nowhere, but certainly will burn out vital parts of your car. Similarly, cutting taxes on the middle class, but increasing them on the 'rich' is likely to result in an economic burnout.
The boom for luxury goods is unending. There are people who never have to worry about whether they can afford something they like. In one part of the world or another there will always be someone with money to spend on luxury.
I think that we're so generous in some of our social problems that people are unwilling to get a job outside in the heat. Rather than get 15 dollars to go get roofing, they'd rather get 9 or 10 dollars in benefits.
Wealthy individuals are known for spending their money wisely. This means living below their means by skipping the McMansion and impractical luxury vehicles.
These days an income is something you can't live without - or within.
Having an actual income can expand your romantic horizons toward the more appealing end of the spectrum.