A year in the life of Joe Billionaire

A billionaire's household budget

Because Joe Billionaire accumulates 4,000 median American incomes, a $4,000 expenditure for Joe Billionaire is the same fraction of income as $1 for a median American earner. Let's call $4,000 one "Joe buck," or J$1. Joe Billionaire's annual income is J$50,000. Thus, a $2,000-vacation package costs J$0.50, proportional to a half-dollar from a middle-class income. At this scale, a generous annual food budget comes to J$3. One year's tuition at a prestigious university costs J$15. An extended stay in a top-quality hospital might run J$50. For J$150, Joe Billionaire can pick up a large middle-class home in most parts of the United States. If that's too modest, a week's income buys a mansion in Rancho Palos Verdes, California. Who needs student loans, health care and mortgages?

Joe Billionaire can and does purchase goods and services not available to the rest of us. J$2,500 builds a media mouthpiece. Comparable political donations may be followed by a Cabinet appointment. Unlike a tithing purchase for you or me, a one-time J$5,000 donation for Joe Billionaire has no effect on spending power. We're speaking of a scale where lavish living costs a few hundred Joe bucks. Next year will bring another J$50,000.

Matters of perspective