Not true, as rich folks have accountants and tax specialist that have the rich only spending a small fraction of that wealth, the rest is invested or put into savings....The average yearly spendable amount is usually 5-7% of reserves..
On the contrary, it's very true. Paris Hilton can spend more on a weekend shopping trip than I do in a year. I don't care how much they don't spend.
Well, that should make them better than all of us..
Quality has nothing to do with it. The FACT is that rich people put more money into the economy, hire and pay more people, and make more money available for investment than I do. I simply do not care if they have more than I do, if they earned what they have or it was given to them. I have enough.
The more ostentatious a person is, the more status symbols they flaunt, the more stuff they have, the more they are employing people to make things. Ironically, it is the rich guy who lives simply and doesn't try to outdo his neighbors that isn't pumping money back into the economy.