"The 100 richest people in the world earned enough last year to end extreme poverty suffered by the poorest on the planet four times over..."

"Extreme wealth was 'economically inefficient, politically corrosive, socially divisive,' the report said."

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"15 Frugal Billionaires Who Live Like Regular People."

Fascinating and really cool. Got us going talking about why someone would do this (other than being nutty). Highlights:

1. Warren Buffet, worth $46 billion, "still lives in the Omaha, Nebraska, home he bought for $31,500 more than 50 years ago." And Carlos Slim Helú, chairman and CEO of Telmex, worth $69 billion, has lived in the same modest house he's had for the last 30 years. Christy Walton, worth $27.9 billion raised her son in an 1896 Victorian house so he could have a normal life and, after her husband died in a plane crash, donated the house to charity.

2. Chuck Feeney, co-founder of Duty Free Shoppers Group, gave away $4 billion, leaving himself with (currently) $2 million, and he orders the second-cheapest wine on the menu. David Cheriton, worth $1.3 billion says he's "quite offended" by people who build big mansions, thinks "there's something wrong" with those people, and recently bought a Honda Odyssey.

3. Ingvar Kamprad, the founder of IKEA, worth $3 billion, claims to drive a 15-year-old Volvo and alway fly economy. He eats in cheap restaurants and has his house furnished with IKEA stuff.  More on him here, including a picture of his unassuming ranch-style house.

He always does his food shopping in the afternoon, when the prices in his local market start to fall....

Explaining his frugal nature, he said: "I am a bit tight with money, a sort of Swedish Scotsman. But so what?

"If I start to acquire luxurious things then this will only incite others to follow suit. It's important that leaders set an example. I look at the money I'm about to spend on myself and ask if Ikea's customers could afford it."

But Kamprad's image may be a big fake, and who knows about those other characters? The modest image helps the company's reputation, and they don't want to attract the attention of tax collectors, government regulators, and criminals (e.g., kidnappers).

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Chief Justice Roberts informs Congress that the federal judiciary is scraping by on a mere $7 billion a year.

$7 billion! Why, if that were one person's entire fortune, he'd only be #50 on the Forbes list of richest Americans. He'd only just butt ahead of Charles Butt.

The Chief stressed the bargain we the people are getting:

“Yes,” he went on, “for each citizen’s tax dollar, only two-tenths of one penny goes toward funding the entire third branch of government!”

In the report, Chief Justice Roberts said the judiciary was doing what it could to cut costs in rent, salaries and computer services...

The federal courts went to great lengths last year in trying circumstances, notably after Hurricane Sandy. “As just one example,” he said, “the United States District Court for the Southern District of New York conducted emergency hearings in Lower Manhattan the day after the storm hit, working in a building without heat or hot water that was only sparsely lit by gas-fueled emergency generators.” Though Chief Justice Roberts did not say so, the Supreme Court also showed fortitude the day the storm hit, hearing arguments when the rest of official Washington was closed.

I could think of quite a few ways to economize on the federal courts — things Congress could do. The courts are forced to handle the cases that fall within their jurisdiction, but Congress could target litigation-generating laws for repeal.

ADDED: Another way to increase that "two-tenths of one penny" proportion would be to reduce spending on things that are not the judiciary.

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