Villainous One Percent Dept: The poor should stop whining, says luxury CEO.

[HughBeaumont]

http://finance.yahoo.com/news/poor-stop-whining-says-luxury-160846180.html?vp=1

Bud Konheim has a message for all of the 99 percenters: You're luckier than you think.

Konheim, CEO and co-founder of luxury-fashion company Nicole Miller, said on CNBC's " Squawk Box " on Wednesday that Americans not in the top 1 percent would be considered wealthy in most of the world. He said the 99ers should stop complaining and understand how lucky they are.

"We've got a country that the poverty level is wealth in 99 percent of the rest of the world," he said. "So we're talking about woe is me, woe is us, woe is this." He added that "the guy that's making, oh my God, he's making $35,000 a year, why don't we try that out in India or some countries we can't even name. China, anyplace, the guy is wealthy."

Konheim's comments are sure to provoke the inequality crusaders. After all, here is the wealthy CEO of a luxury company that sells $800 sequined dresses and $250 clutches saying that people who make $35,000 a year should be grateful.

(snip)

But as we all know, wealth is relative to those around you-and the costs of the country and city or town that you live in. Even Konheim would admit that $35,000 may go a long way in rural India or China, but it would be a struggle in many parts of the U.S.

Article was written by Robert Frank, the . . . are you ready . . . CNBC Wealth Editor.

Do we REALLY have a correspondent solely dedicated to reporting on and defending the extremely wealthy?

Can you say "Propaganda Arm", kids? I knew you could.

[CanonRay]

1. If you can't afford food, or a roof over your head, or medical care

it doesn't much matter which country you're in. Poverty sucks in all languages.

[HughBeaumont]

2. This is the sort of thing old Bud doesn't seem to get:

[Armstead]

3. Back to the 80's and Robin Leech and "lifestyles of the Rich and Famous" I guess

except even more politically repugnant today

[PowerToThePeople]

4. "inequality crusaders"?

[jsr]

5. Poor people should shut up and eat their Beluga and drink their Henri Jayer

[BootinUp]

6. Lets compare Bud to feudal lords next. nt

[Swede Atlanta]

7. This guy is dumber than a box of rocks....

No one questions that $35K would make someone a relatively wealthy person in many developing countries.

That argument is totally specious and Mr. asshole knows it.

The issue relates to the cost of living. In a country like Central African Republic, Vietnam or Afghanistan $35,000 would enable you to live a fairly comfortable life.

But in this country $35,000 does not a wealthy man make. In 2012 the national average monthly rent was just over $1K a month. When you factor in the impact of sales and other use taxes plus any income tax and then ordinary expenses for somewhat nutritious food, basic transportation including maintenance and insurance, health insurance, clothing, something to sit on, utilities, etc. there is precious little left over for any luxuries such as saving for a child's college, putting away some money for a rainy day or, heaven forbid, putting away some money for retirement.

That is what is so mind boggling. The 1% don't understand what it is like to live an ordinary American's life or how hard it is to make ends meet or save for a college education, a rainy day fund or for retirement.

[safeinOhio]

8. "$35,000 may go a long way in rural India"

and they also put a bullet in the head of corrupt business men and bill the family for the bullet.

[MisterP]

9. can you imagine the horrible things and screaming maniacs a Wealth Editor would have to witness?

[hobbit709]

10. Bud needs a short ride in a tumbrel.