Apparently smaller bonuses this year are causing all kinds of angst for the Masters of the Universe on Wall Street.
Schiff, 46, is facing another kind of jam this year: Paid a lower bonus, he said the $350,000 he earns, enough to put him in the country’s top 1 percent by income, doesn’t cover his family’s private-school tuition, a Kent, Connecticut, summer rental and the upgrade they would like from their 1,200-square- foot Brooklyn duplex.
“People who don’t have money don’t understand the stress,” said Alan Dlugash, a partner at accounting firm Marks Paneth & Shron LLP in New York who specializes in financial planning for the wealthy. “Could you imagine what it’s like to say I got three kids in private school, I have to think about pulling them out? How do you do that?”
Not to mention the hassle of having to search all over to buy discounted salmon at $5.99 a pound or not going on ski vacations to Aspen or to the Mardi Gras or having to make do with just a one month vacation instead of the usual four. And that’s just a sample of the ‘hardships’ they complain about.
Mitt Romney is a perfect example of someone who has lived his entire life within this kind of wealthy class and has no idea of what life is like for ordinary people. This is why he is so tone-deaf about remarks about his wealth and makes oblivious comments such as that he too has feared getting a pink slip or that he is currently unemployed. This is the kind of thigh-slapping humor that people in his class indulge in amongst themselves, because they are secure in their vast wealth.
In a weird way, I understand what these people are saying. It is never easy to lower one’s lifestyle, whatever the starting point may be. What I don’t understand is how they cannot realize how self-indulgent and even infuriating such comments sound to the vast majority of people who are unemployed or barely employed or even to the middle class. Why don’t they restrict their whining only to their close circle of people in the same upper income bracket and not go blabbing to the press? Do they really want the tumbrils to come after them?