When the Wealthy Feel Bad About Being Rich

Over lunch in a downtown restaurant, Beatrice, a New Yorker in her late 30s, told me about two decisions she and her husband were considering. They were thinking about where to buy a second home and whether their young children should go to private school. Then she made a confession: She took the price tags off her clothes so that her nanny would not see them. "I take the label off our six-dollar bread," she said.She did this, she explained, because she was uncomfortable with the inequality between herself and her nanny, a Latina immigrant. She had a household income of $250,000 and inherited wealth of several million dollars. Relative to the nanny, she told me, "The choices that I have are obscene. Six-dollar bread is obscene."An interior designer I spoke with told me his wealthy clients also hid prices, saying that expensive furniture and other items arrive at their houses "with big price tags on them" that "have to be removed, or Sharpied over, so the housekeepers and staff don't see them."  Continue reading...