What's Wrong with Wealth?

David Miller posted a powerful statement on this site that's worth reading. I commented, but then realized I'd posted something on my own blog that looked at the problem from a more global perspective. The post follows:

I'm 56 years old. I'm about to go into semi-retirement because over the past 20 years, my wife and I have had jobs that, by any rational standard, have made us wealthy. We're selling our house in one of the most desirable cities in the U.S., and we're going to move either to the Richmond or Chapel Hill area.

Some years back, we were having dinner with some friends. He came from a wealthy family and is a very successful lawyer — he's probably worth $10 or $20 or $100 million dollars. I don't know, but at dinner, he said he thought he was middle class.

At first I was shocked to the point of outrage. He's a conservative Republican and one of the most thoughtful people I know; I'm a liberal Democrat. Then I realized that, in his world, he wasn't wealthy. He knew people with tons more money than he had.

We're both workaholics. Everyone I know thinks they work hard, but I'd be in the office somewhere between 8 and 9, leave at 6 or 7 or 8, and then work another hour or two at home. Before I left the agency I worked for, I couldn't remember a weekend where I didn't work at least 10 or 20 hours. I really did put in 60+ hour weeks. So did my friend. Few people I've known put in those kind of hours.

And because we're very good at what we do, we get paid outrageously large amounts of money — him more than me, but after all, he's a lawyer. I'm just in public relations.

I'm not bothered by the wealth we've accumulated by being fanatical about building our savings before spending anything. I'm proud of my career: Over almost 30 years in PR, I've never been asked to do nor have I ever done anything I think is immoral or illegal — although there are enviros out there who'd disagree. I'm not bothered that I can afford to retire at 56.

But I don't understand how I can do this while 45 million Americans lack health insurance — while 1/4 of America's children live in poverty — while the middle class, the real middle class, is being squeezed so tight that two-income families with two kids making $60 or $70 thousand a year are just barely making ends meet.

Continued on the next page Page 1 — Page 2

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Article Author: Mark Schannon

Crisis/risk/issues management and communications and PR consultant, free-lance writer, aspiring pundit and author. Blogcritics.org asst. ed, politics. Wanted to set world on fire, but bride won't let me play with matches, so I'm counting on upcoming, …

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  • 1 - Temple Stark

    Apr 01, 2005 at 2:36 pm

    There goes my buzz

    Conservative Republican lawyer. They're an endangered species aren't they. Officially listed and everything.

    Good on ya for retirement and wealth. They say I can do that in PR. It gives me the shivers, though. Money isn't the biggest thing for me, though it makes life much easier.

  • 2 - Mark Schannon

    Apr 01, 2005 at 2:54 pm

    Not sure I understand your post, although the tone comes blaring through. I even went to your blog, but that didn't give me any help either.

    So...wanna argue with me, buddy, you gotta be more clear. After all, I'm just a dumb PR guy.

    By the way, I'm not the Republican conservative lawyer, I'm the confused liberal Democrat.

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