Bud Konheim, CEO and co-founder of luxury-fashion company Nicole Miller, launched a scathing attack on North America's poorest population by claiming that they should stop moaning and be grateful that they do not live and work in China and India.
In a CNBC TV interview, Konheim became the latest in a long list of old ultra-wealthy Americans – dubbed the 1%- that have hit back at 99% of the population over the cost of living crisis.
"We've got a country that the poverty level is wealth in 99% of the rest of the world," said Konheim.
"So we're talking about woe is me, woe is us, woe is this. The guy that's making, oh my God, he's making $35,000 a year, why don't we try that out in India or some countries we can't even name. China, anyplace, the guy is wealthy."
In the US, you need around $500,000 in annual income to be in the top 1%.
According to a poll on CNBC's Inside Wealth blog, a staggering amount of people agree with Konheim.