Because rich people do silly stuff sometimes, like spending $120 million on a painting -- when they could have spent $120 on a decent frame and a replica print.
That $120 million could have been used to fund a whole bunch of mobile tech startups, add multiple production lines on a factory that actually makes stuff in the USA, or capitalize an international mining or energy firm employing thousands of executives, professionals and blue-collar workers. It could have created all kinds of profits (yes, profits. Rich people won't invest in businesses out of the goodness of their hearts) and regional spin-offs for the benefit of the society.
Instead, some rich dude is going to have a $120 million conversation-starter in his living room.
The next time a Republican tells you that we need to give tax breaks to the rich so that they can build the businesses that create jobs, throw this in their face. Rich people can be just as stupid with their money as the rest of us.
Jonathon Narvey is the Editor of The Propagandist...More >>