But very seriously, it goes through life; the drum major instinct is real. (Yes) And you know what else it causes to happen? It often causes us to live above our means. (Make it plain) It's nothing but the drum major instinct. Do you ever see people buy cars that they can't even begin to buy in terms of their income? (Amen) [laughter] You've seen people riding around in Cadillacs and Chryslers who don't earn enough to have a good T-Model Ford. (Make it plain) But it feeds a repressed ego.
You know, economists tell us that your automobile should not cost more than half of your annual income. So if you make an income of five thousand dollars, your car shouldn't cost more than about twenty-five hundred. That's just good economics. And if it's a family of two, and both members of the family make ten thousand dollars, they would have to make out with one car. That would be good economics, although it's often inconvenient. But so often, haven't you seen people making five thousand dollars a year and driving a car that costs six thousand? And they wonder why their ends never meet. [laughter] That's a fact.
Martin Luther King Jr., 1968 https://kinginstitute.stanford.edu/king-papers/documents/dru...