WHAT Recession? Formula One billionaire's daughter's $5 million wedding.

[Amerigo Vespucci]

It's amazing ... Petra Ecclestone blew $85 million on Candy Spelling's 57,000 mansion, and she could still afford a wedding that rivaled the one recently thrown for those 2 kids in England. Petra tied the knot with businessman James Stunt in Italy yesterday, in the same village where Tom and Katie got hitched. But this wedding was a lot more expensive -- reportedly more than $5 mil -- and a lot grander.

For starters, Andrea Bocelli was there performing "Time to Say Goodbye," the first dance was courtesy of Eric Clapton, and the crowd then danced to The Black Eyed Peas. BTW, Peas don't come cheap -- $2.4 million for the live appearance.

Petra -- the daughter of Formula One billionaire Bernie Ecclestone -- was decked out in a $130,000 Vera Wang special. Guests guzzled wine at $6,500 a bottle -- Chateau Petrus, of course.

Wait till Petra Petra's dad gets the credit card statement.

http://www.tmz.com/2011/08/28/petra-ecclestone-wedding-wed-james-stunt-italy-bernie-ecclestone-the-black-eyed-peas-eric-clapton-andrea-bocelli-paris-hilton-nicky-hilton-tom-cruise-candy-spelling/

[dkf]

1. She is British you know. Don't they pay pretty high taxes there?

[Amerigo Vespucci]

2. I'm guessing she doesn't pay anything no matter where she is

From what I gather, her occupation is "billionaire's daughter." Not sure what the tax rate is on that.

:rofl:

[dkf]

3. Well her father paid taxes and eventually she will have to pay a 40% inheritance tax.

In the meantime she probably is supporting a boatload of people with her spending. Better Daddy has an extravagant daughter who circulates their funds and creates economic activity too.

I love saving money but it's the spenders who make the system work.

[snagglepuss]

4. Massive loopholes in their tax system. Tax avoidence is big business

in the UK.

[dkf]

5. I keep saying the loopholes matter more than the rate.

I guess that is the truth everywhere.

[kestrel91316]

6. I'd much rather see the wealthy spending their money like this, where it

truly trickles down to many middle class folks, than see them "investing" it by buying into companies that serve only to enrich other wealthy people.

Spend! Spend! Spend! Spend like there is no tomorrow!!!! It does none of us any good just sitting in the bank.

[Warpy]

7. This is why new money dies broke

They keep trying to spend and glitz their way into the inherited upper crust and it just never works. All they do is piss working people off while depleting their ill gotten gains.

[thelordofhell]

8. I give it 6 months