This is an interesting viewpoint. Should the price of a beer be higher for you as an IT worker who can afford to fly than the same beer served to an unemployed person? If not why not? If this question is irrelevant then the ability of someone to pay for Jet fuel is irrelevant also. The Lear owner might also argue that his time is many times more valuable than yours, too!
The guy in the Lear might have a deadline to meet, and was probably looking to conserve every pound of fuel. There is a big debate to be had, but it is certainly true that business aviation adds value to the economy, and arguably should get priority.
Why do you fly? Is it for pleasure? If so surely the go around and extra 5 minutes for a circuit gave you even more pleasure!
Well, imagine the same situation applied to road traffic. I have a green light, driving alone in my VW on a pleasure trip. Waiting at the red light is a large transport truck carrying...oh shall we say beer. Arguably the transport truck is providing a greater economic benefit than my pleasure ride. Do we therefore allow him to go on the red, even though I have the green, and the right-of-way? If we did that, then traffic would be sheer chaos. On the other hand, if we put in rules of the road based on safety priorities, rather than situational priorities, then we have order. Exceptions are made for emergency vehicles.
In my case, I was flying for night currency, doing my 5 night takeoffs and landings. No other reasons; arguably that's so I can carry passengers at night for their...and my...good pleasure but the purpose of the flight was strictly currency.
What was asked of me was to execute a night go-around, a procedure that is not without risk. True, it was a valuable exercise for me to practice, but IMHO, it was an unreasonable request especially since I was on a touch-and-go, not a full-stop landing with backtrack; the delay would be minimal. As was mentioned, the rules of the air were written to ensure order. Of course, if he had preceded his callsign with "medevac", I would be obliged to give the right of way. But just for his good pleasure, I think it was within my right to insist on not having to do a night go-around just so he could make his boss happy about saving a few pennies on fuel burn...or due to poor planning and not taking on enough fuel (his destination was Montreal, about 10 minutes away in the Lear...).
In the event, I did, relucantly go around; and added a circuit to my flight.
To put it into perspective, I was once landing when Canada's Prime Minister was in the circuit, in a Citation. I was ahead of the Citation in the circuit. I knew who was on-board (it was obvious from all the RCMP security vehicles on the field; the former PM had a summer residence close to my home field, CZBM). I offered to let him go first, but the pilot said "no, you're ahead of us and have plenty of time to land, we'll extend our downwind". Rather gallant of them. Of course in that case I was the one (in part at least) footing the bill...my tax dollars at work.