As countries like Greece and Spain struggle under huge debts that are impoverishing its people, the elites around the world are getting richer and richer. This documentary looks at the ever widening gap.
There are customers that have up to 100 vehicles in their garage, Torsten Muller-Otvos from Rolls Royce tells us. A Rolls Royce is worth about half a million dollars and last year Rolls Royce sold more vehicles than ever before in their 100-year history, but then the luxury industry knows no crisis.
Since 2009 the rich have become on average 6 percent richer each year.
So while one in six Americans currently has no health insurance, Manhattan’s 58 billionaires have gotten richer. As Manuel Koch points out the ratio of return expected by the rich has totally shifted, “People used to be happy making three million profit. Today companies like Apple account for 6 billion profit. That’s profit! Not turnover.” However despite their greater income the super-rich aren’t too happy about the though of their tax loopholes being closed. In their minds they give back, even if its not through taxes.
“I know a lot of rich friends who have charities…when they reach a certain level they give back to the community. So I believe less tax is always better than too much.” As the world struggles through a financial crisis and the globe-trotting elite continue to grow wealthier, there is not much evidence they have their communities interests at heart.