Skip to main content

Do you ever wonder about the super rich? Not the everyday, "ordinary" rich making salaries of $500,000 a year, but the super rich? The ones making millions per year and the ones with net worths in the $$$billions?

Why do they fight so hard to hang on to their 15% tax rates when it wouldn't even make a dent in their lifestyle if they had to pay 50%?

An eye-opening column in the NYT today provides insight into the psychology of the super rich. It's written by one who knows--an ex-trader who used to make those multi-million dollar bonuses.

He's says he's a recovering "money addict". And he recognizes the harm that money addiction does to our economy.

You should read the whole article, but here are a couple of gems.

Like alcoholics driving drunk, wealth addiction imperils everyone. Wealth addicts are, more than anybody, specifically responsible for the ever widening rift that is tearing apart our once great country. Wealth addicts are responsible for the vast and toxic disparity between the rich and the poor and the annihilation of the middle class.

Only a wealth addict would feel justified in receiving $14 million in compensation — including an $8.5 million bonus — as the McDonald’s C.E.O., Don Thompson, did in 2012, while his company then published a brochure for its work force on how to survive on their low wages. Only a wealth addict would earn hundreds of millions as a hedge-fund manager, and then lobby to maintain a tax loophole that gave him a lower tax rate than his secretary.

The op-ed writer, Sam Polk, originally wanted to be like the billionaires in his office, but he gradually grew disillusioned with them and the emptiness of his and their contributions in life.

He started a non-profit organization called "Groceryships" which provides grocery "scholarships" to help needy people eat healthy diets with fruits and vegetables instead of a diet of cheap junk foods.

Polk doesn't think all rich people are addicts. His yardstick is whether a rich person can see that they have enough.

But for the addict, no amount of money is enough!

P.S. Thanks for the Rec list! A nice surprise when I checked in this morning!

Originally posted to Happy Days on Sun Jan 19, 2014 at 08:12 PM PST.

Also republished by ClassWarfare Newsletter: WallStreet VS Working Class Global Occupy movement.

Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags


More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

bink, Thumb, trillian, Mimikatz, mndan, madmsf, emal, RunawayRose, karlpk, LynChi, cotterperson, xynz, red moon dog, Matilda, hubcap, niemann, eyeswideopen, TracieLynn, EricS, wonkydonkey, annrose, susakinovember, Time Waits for no Woman, liberaldregs, Geonomist, roses, askyron, splashy, dksbook, wader, Redfire, pat bunny, TiaRachel, johanus, Damnit Janet, laughingriver, Frankenoid, Major Kong, zerelda, Hillbilly Dem, solesse413, vivadissent, Armand451, Gowrie Gal, NoMoreLies, democracy inaction, sc kitty, ChemBob, Brooke In Seattle, YucatanMan, bleeding blue, Sun Tzu, where4art, ladybug53, blue jersey mom, bunsk, Ekaterin, xaxnar, esquimaux, cookseytalbott, Naniboujou, The Hindsight Times, NCJan, blue in NC, anninla, SingerInTheChoir, CA Nana, shaharazade, bstotts, john07801, Positronicus, yoduuuh do or do not, karmsy, Via Chicago, certainot, millwood, pioneer111, rmonroe, revm3up, also mom of 5, wayoutinthestix, OleHippieChick, Funphil, elwior, lineatus, tofumagoo, Cassandra Waites, petulans, mattc129, WearyIdealist, Glacial Erratic, greengemini, cantelow, maryabein, susanWAstate, geebeebee, Leslie in KY, IreGyre, citisven, Just Bob, smileycreek, oceanrain, Man Oh Man, estreya, gramofsam1, Kristina40, Egalitare, Jaimas, Betty Pinson, MsGrin, nosleep4u, Its a New Day, catlady, Onomastic, bgblcklab1, slowbutsure, NormAl1792, Ojibwa, tardis10, Grandma Susie, blackjackal, SouthernLiberalinMD, caryltoo, Laurel in CA, SuWho, KansasNancy, LefseBlue, orpurple, FloridaSNMOM, reginahny, BusyinCA, lunachickie, ItsaMathJoke, OooSillyMe, Windowpane, Robynhood too, Ray Pensador, Lily O Lady, countwebb, Alhambra, nice marmot, solarbay, marcr22, tampaedski, Dodgerdog1, wyckoff, JustBeKos, joegoldstein, LiberalLoner, SoCalSocialist

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site