Wednesday, December 30, 2015

Bashing Billionaires, Front-Paging Affluenza

The MSM, or at least the NY Tines, has decided: Great wealth is uncool. 

For the Wealthiest, a Private Tax System That Saves Them Billions, the article Jim Gust spotted online, was the front-page lead in today's print edition. Below the fold, surely not by coincidence (and not the sort of tabloid fodder the Times generally front-pages) was the capture of Ethan Couch, ‘Affluenza’ Teenager.
His case made national headlines twice: The first time was when a psychologist testified for the defense that Mr. Couch had “affluenza” and was too influenced by privilege and his parents’ permissiveness to know right from wrong.
The second was when a judge appeared to accept the argument, handing down a sentence of 10 years' probation, not prison.
We'll be watching a number of trends in the new year: The demand for lower investment costs. The rise of socially responsible investing.  The craze for unicorns, Warhols and other alternative assets. Could the growing distaste for people making $10 million, $100 million or more prove to be a bigger wealth-management story in 2016?

1 comment:

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