From Andrew Tobias: Ordinary Americans, Bush Administration Style.
Back in the days when a hundred thousand dollars then had the same place in the American income distribution as a million dollars today, Republican politicians Nelson Rockefeller talked about "the average guy, making a hundred thousand a year." The Bush administration seems to have the same viewpoint: when they talk about somebody owning a "travel business," they don't mean she owns a four-person travel agency in a strip mall--they mean she owns the Radisson Hotel chain and TGI Friday's.
Posted by DeLong at August 22, 2002 08:15 AM | TrackbackAndrew Tobias - Money and Other Subjects:
THE WACO ECONOMIC SUMMIT
John R: “On PBS a few minutes ago, Treasury Secretary Paul O'Neill tried to play down criticism that the forum's attendees aren't representative of everyday people. He cited attendee Marilyn Carlson, ‘who owns a travel business. She should be able to give us perspective about what it means to be on the front lines.’ Well, Marilyn Carlson's ‘travel business’ is the Carlson Companies, the privately-held conglomerate that owns the Radisson hotel chain, TGI Friday's, and a dozen other entities. (See carlson.com.) She's the daughter of the late Curt Carlson, the wealthiest person in Minnesota. That's the Bush administration view of what it must be like to be on the front lines?”
In 2000, Forbes estimated Marilyn Carlson's net worth at $1.3 billion, making her the 218th richest person in America. I'd love to live in Paul O'Neill's America, I just don't think I can afford the price of admission.
Posted by: Nick on August 22, 2002 05:24 PMCommon folk. Lots of common folk. Lots of common folk have $1.3 billion.
Posted by: on August 23, 2002 09:19 AMI suppose 218 would be considered "lots" in some circumstances...
Posted by: Nick on August 23, 2002 11:34 AMA billion here, a billion there. Wish I were invited.
Posted by: on August 24, 2002 01:02 PM