Live Simply

Jesus instructed us that we are to love our neighbours as ourselves. Is it possible to do that if we live in luxury while other people go without basic necessities? When scripture tells us that we cannot serve God and money, that the love of money is the root of every kind of evil, and that it is more difficult for a rich man to enter the kingdom than for a camel to pass through the eye of a needle, should we simply dismiss these warnings as not applying to our own conditions? Does the Catholic Church have a clear teaching on these matters?