I don't buy it either. The U.S. spends over $100 Billion a year on food stamps alone, and who knows how much on other welfare programs. To think that $240 Billion would wipe out poverty worldwide is ridiculous. Incidentally, if the $240 Billion were spent on poverty programs instead of Rolls Royces and other luxury items, what would happen to all the people who work in factories making those luxury products? Libs can't bring themselves to think about those kind of unintended consequences.
And, by the standards Oxfam (or the World Bank) uses to define “extreme poverty”, leaving aside the mentally ill homeless who can’t or won’t take either state benefits or charity at the levels offered, there is no extreme poverty in the U.S.
Not a terribly good argument. Luxury products, by definition, are produced in small quantities and employ comparatively few people, as opposed to products intended for mass consumption.
I understand your point, but as a percentage of the total economy of the world luxury products are a small factor.
As I expect can be quickly shown by comparing the worldwide employee count of Rolls and Lamborghini to that of Toyota and Ford.