To think the problem with wealth inequality is that rich people don't know how rich they are?

It's like trying to catch smoke on here at times.

Neither of those are real situations.

We feel broke, everything is more expensive, things we wouldn’t have thought about spending on - we now give quite a lot of consideration. Although we aren’t huddled under a blanket with the lights off, contextually we don’t feel particularly wealthy and are more careful than ever. Wages in our industry have stagnated, at the same time costs for everything have increased drastically. It’s not a case of shaving off a few caribbean holidays sadly, it’s rethinking larger fixed costs like mortgages and school fees. The latter being a cost we could choose to allow the state to pick up. If lots of higher rate tax payers decide to spend less on things like mortgages, consumer products, school fees etc, growth will continue to nosedive. Reeves has a tough job however she slices the pie. Ultimately people are always in favour of someone with more money than them paying a larger proportion of the country’s taxes, but that will mean services continue to erode, with those paying the least tax being most likely to need the very services that are decaying because of underinvestment.

Article in the Times today saying that people earning six figures 'don't feel rich'.
Because they are surrounded by six figure earning peers they are comparing themselves to people who have more rather than the 90% of the population that have far less

Its also outgoings. Ive got a young guy in my team on 6 figures. His partner earns less. He pays a lot of tax and has huge student loan deductions.He has to put far more into his pension scheme than the older members of the team because they closed the decent pension scheme.

His train to work costs a bomb, he's saddled with a big mortgage. He spent years to save a deposit for a 3 bed house that needed work doing and is now finding tradespeople cost double what they used to.

He doesn't have loads of disposable income. He's got security, property ownership yes, but he clearly does not have the trappings of a wealthy lifestyle. He and his partner are questioning if they can afford kids, as the childcare would be £2k a month & they wouldn't get full 30 hours of childcare funding or child benefit because of what he earns.

Totally agree.

Its all a matter of scale. Even the poorest in this country are rich on a global scale. Very few people are getting their drinking water from rivers in the UK.

Everyone came from something. Good or bad. People arent "nothing". They shape our lives.

Yes of course, I completely agree with you - I hate them, I voted Labour despite being high earner and hell has to freeze over before I vote Tories after Brexit, Boris, Liz, etc.

however the debt does pay for various government outgoings- when tax receipts are not enough. So it can and does pay for benefits and public services - directly or not. So the debt doesn’t appear out of nowhere, it means the government overspends

Here’s my problem. You don’t have to be rich to be happy. I’m not rich, I’m comfortable. But I am very happy. I don’t understand the scrabbling for money. There should be a balance imo.

Warehouses are cold, vast and packed full of stuff to pick and be packaged up to fulfil orders. Orders come in thick and fast. And then Christmas shopping begins, the pace kicks up a few gears and you have to be fit and healthy to keep up.

It doesn't need to be stated in the contract when it's common sense. If you don't want these sorts of jobs to exist, stop ordering crap off the internet.

You too 😊

London does not need levelling down. The regions do need levelling up. The labour govt is already investing some exciting new technologies in the regions.

Wales is set to become a world leader in nuclear technology…
North Wales has been chosen for the UK’s first small modular reactor nuclear power station, marking a significant industrial investment backed by £2.5 billion and supporting 3,000 new jobs in local economy.
There will of course also be mutli billions of private investment in infrastructure.

Scotland in quantum technology
The UK Government has awarded £8.9m to three Scottish universities to help position Scotland and the UK as a “world-leader in quantum”.
One quantum laboratory and two research hubs have secured a share of a new £121m fund. This is part of a 10 year strategy worth £2.5bn. The five quantum tech hubs will be Glasgow, Edinburgh, Birmingham, Oxford and London.

https://www.ukri.org/news/five-hubs-launched-to-ensure-the-uk-benefits-from-quantum-future/

The only part of the op I do agree with is that the people you call rich compare themselves to their peers so may not feel it. Of course they have more disposable income. Do you think they should have the same as someone in low paid employment who takes no risks or makes an active choice to live on benefits? Communism doesn’t work. The reality is that if the wealth creators go, things will be even worse for families already struggling.

The Tories.

I'll never understand wtf it has got to do with anyone else how much money someone has.

Why do people care?

I think if they look honestly as to why they care so much, it is entirely down to envy and resentment.

I have been poor and am now not. I never expected rich people to supplement me when I was poor. I just don't get it.

If you want to be rich, get rich. Why spend your time moaning about other people being rich.

Thank you. I was lucky enough to never have to pay for child care. I do realise how lucky I was.

Wealth inequality is a massive problem, and counting Elon Musk's net worth a dollar at a time would be an unapproachably challenging task for any realistically size team of people to achieve, but I think this post overestimates how much a billion is.

A million people counting one billion dollars would only have to count 1000 dollars each. A teller counting votes in an election would be expected to count a thousand in a few hours at worst - at best perhaps only around one hour.

Yes, be angry, but don't exaggerate.

True. As usual we'll get absolutely bugger-all.

Just so you know a standard (not elite) nursery is 2K a month nowadays 5 days a week / 8-6 pm
for families with 2 kids only 10% discount …
and obviously no free childcare hours until 3 yo

5 years ago it was 1300 pcm

You're assuming we're getting vaseline? More optimistic than me ;)

"Emotional blackmail in support of right-wing ideology. Please excuse me while I throw up."

Lol, feel free.

If the wealthy leave the country (they are), then mass-unemployment will ensue (already started).

After all is said and done, the market is highly-efficient and will respond to things quickly. You get what you wish for, so eat what you ordered. If that's losing your job, then so be it.

The government will continue to make money worthless by printing it, thus deepening the recession. Don't forget Rachel's budget next week, I assume the vaseline will be in the post very soon.

If you genuinely believe that then you are exceptionally naive

They chose to work there. Don't sign a contract if you don't like the terms and conditions.

I wouldn't know as I have never employed either! It really is a different world down there.

Handout implies it is given freely. Most people who receive a benefit will have paid into the system which then gives them a safety net if they fall on hard time.
I am currently unemployed. If I do not find work and my savings are gone I will have to receive UC. I hope none of my friends will regard this as me receiving handouts. Hopefully I will be able to keep my home and support my son.