Why the 1 percent don't feel rich

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  • Jamescmeyer Midwest City, USA, OK
    April 8, 2014 7:34 a.m.

    The problem with "rich" is that it's comparative: Economics is ultimately a matter of managing scarcity, which exists no matter how much you make or are worth. As outlined in the article and by other commentators,"rich" people face many of the same difficulties and problems other people do, just on a different economic scale. As difficult as things may seem for someone not making much living in the United States, a person from many other countries, even considered "rich" in that country would scoff at the indecency and insatiability of people who have phones, refrigerators, and air conditioners considering themselves "poor". Meanwhile there are people who have literally nothing but the clothes on their back but who would sacrifice even that to help another in somehow more need than them.

    I think Fred44 said it best. In addition, economics and production are not a zero-sum game; rather than fume at "rich" people for being rich(which -does not- preclude my becoming rich), I would think it more prudent to work, seek education, and set myself and my children up for what they have.

  • Fred44 Salt Lake City, Utah
    April 7, 2014 5:55 a.m.


    Working hard and making a lot of money are also two different things. There are certainly those that work hard that make a lot of money, but there are those who work hard that don't make a lot of money. There are those who where born on third base and don't have to work hard, and there are those like hedge fund managers who produce nothing, manipulate a system with other peoples money and make a lot of money.

    We should not glorify nor demonize a person simply based on the size of their bank account. The more important question is what have you done with the gifts you have been given to make this world a better place.

  • informed? Utah, UT
    April 6, 2014 9:24 p.m.

    Being happy and being rich are two different things. What is sad is that many get confused about the two.
    Having lots of money does not mean one is happy. Being happy does not mean one is rich.
    I do not have a problem with anyone working hard and making lots of money, as long as it is an honest work.
    What I do think is wrong, is when someone works very hard and others who do not work as hard, complain about the money that the one who works hard makes.
    That being said, happiness comes from complying with true principles and if that person has an excess, good for him, for he will likely give a lot of it away to help others.

  • averageguy WASHINGTON, UT
    April 6, 2014 5:30 p.m.

    Come on somebody, anybody...define rich.

  • Mark B Eureka, CA
    April 6, 2014 5:19 p.m.

    Pro athletes get paid plenty, no question. I can, however, generate a little sympathy for them because their peak earning years come early in life, and are few compared with others we think of as "rich".

  • UteMiguel Go Utes, CA
    April 6, 2014 5:15 p.m.

    Seems most of the commenters didn't read the article. The bottom of the 1% don't feel rich because they don't make enough money to stop working. It's not that hard to understand. You're not truly "rich" if you have to keep working (for many one percenters, 60-100 hours a week). Even if they get rid of the nanny, the nice car, and the private schools, they still can't stop working. So in that sense they're exactly like the middle class.

  • Howard Beal Provo, UT
    April 6, 2014 3:59 p.m.

    I'll get out my violin now...

  • mcdugall Murray, UT
    April 6, 2014 3:38 p.m.

    Is society suppose to feel sympathetic that the 1%, those who make more than ~400K /yr, because they don't have the income live an even more lavish lifestyle? Ha, ha, ha. Adjust your lifestyle, the opulence the rich enjoy is more than the 99% of the world enjoys.

  • JoeCapitalist2 Orem, UT
    April 6, 2014 3:28 p.m.

    I'm not sure what the exact measurement that makes one in the 1% or not? Is it one's income level for the current year, or it is accumulated assets? Some people may have a high income this year, but only be able to sustain that for a few years. Many athletes may make $500K to $1M but only have a career in that for a couple of years.

    Many in the 1% are small business owners who may be having a few good years, but know that they are just a mistake or two away from losing it all. Taxes, insurance rates, and regulations are constantly eating into profits. The recent recession wiped out a lot of wealth among those in the 1%. Some recovered, others didn't.

    Although having a couple million $ may be much better than what the average person has, it doesn't mean that you are on easy street for the rest of your life. Now for the billionaires...that is another story.

  • casual observer Salt Lake City, UT
    April 6, 2014 12:04 p.m.

    As ex-NBA center Patrick Ewing said when questioned why he was in distress because of the NBA strike, "Professional basketball players need a lot of money because they spend a lot of money." It's not a compelling argument for either professional athletes or the 1%, who are often one and the same.

  • no fit in SG St.George, Utah
    April 6, 2014 11:37 a.m.

    Most likely, they are comparing themselves with people who are even wealthier than they are.
    Human nature.

  • Eliyahu Pleasant Grove, UT
    April 6, 2014 7:45 a.m.

    Should we all weep for the unfortunate millionaires who can enjoy the things that the rest of us can only dream of because they can't have even more? Happiness is not having what you want. Rather, it's being satisfied with what you have.

  • Kings Court Alpine, UT
    April 6, 2014 7:37 a.m.

    This is a ridiculous, apologist article. If the one percent don't feel rich when their incomes have been rapidly rising, then what must the 99% feel like when they've had stagnant or declining wages.

  • LovelyDeseret Gilbert, AZ
    April 4, 2014 10:17 p.m.

    That logic seems convoluted.

    I still don't know exactly how rich is defined.

    Is it the person that can borrow billions? The person who has no debt?