With all of those, money is moving from the rich person to pilots, crew, maintenance staff, laborers, builders.
Gulfstream is an excellent example of this in action. Gulfstream jets can double the price over comparable products from brands like Bombardier or Cessna. And all of the crew, maintenance, training, and other operating costs can easily double as well. And, IMHO at least, there’s nothing about the Gulfstream aircraft that justifies this extravagant expense. As far as I can tell, the Gulfstream name is a machine that transfers money from unsuspecting and vain rich people straight to Gulfstream and a few aerospace workers.
DaddleDew@lemmy.world 5 days ago
I would argue that the fact that they are using labor and resources that would normally serve a large number of people to serve only themselves due to the sheer extravagance of their needs increases costs for everyone else thorough increased scarcity.
CarbonIceDragon@pawb.social 5 days ago
To be fair, if they really were just living lavishly and not using their wealth to amass more wealth like some kind of wealth black hole, then the extreme expenditure of such a lifestyle would one day drain their money dry, since they couldnt possibly actually earn enough to live like that. Were it not for the effect of wealth begetting more wealth, the issue you refer to would eventually solve itself.
some_designer_dude@lemmy.world 4 days ago
This why we start taking at 100% over a certain amount. They can keep living lavishly indefinitely while everyone else gets to benefit from putting money to actual use.