To think rich people steal money all the time and that’s often why they’re rich?

[MyAmusedOpalCrab]

We hear so much about “hard work” and “smart investments” but let’s be honest, so many rich people didn’t get wealthy by being ethical. From dodgy business practices to exploiting workers, tax dodging, insider deals and straight-up corruption, wealth often comes at someone else’s expense.

Governments bail out billionaires while ordinary people struggle to afford rent. CEOs cut wages and benefits while pocketing massive bonuses. Huge corporations find loopholes to avoid taxes while the rest of us get squeezed.

Obviously not every rich person is a thief but AIBU to think that a lot of them are? That the system is rigged in their favour and they keep getting richer by bending or outright breaking the rules?

Just because one is less than the other, doesn't make it right.

But the material effects - the actual impact on societal resources which ultimately impacts us all - is much greater from the one than the other. So surely we should be directing our attention to that. Just as a question of expediency - there are only so many hours in a day where we can best use our energies.

And leave the pontificating about morals for a time when we have excess energy and resources to devote to it. Maybe then we can bring greater focus to Brenda claiming a higher rate of DLA than she should. For example. Once we've sorted out the multi million pound heists on covid money, post office systems, water company payouts, train operating company payouts, housing benefit funds to slumlords etc.

Exactly this. If you increase the wealth of poorer people they spend the money, putting it back into the economy and benefitting everyone. Increase the wealth of the rich and they hoard it. Benefitting nobody but themselves. Or they buy up more assets, inflating the costs for everyone else and making everything unaffordable for the rest of us.

That’s what they want. The people who profit from your taxes I mean.

I’d rather help a few fraudsters to ensure those who are genuine claimants don’t go without (as many are now) than facilitate profit by fraud (pretending that fraudulent claims cost more than MP pay rises, perhaps).

Why not? They won’t miss it. Look at Bill Gates.

Warren Buffet and Bill and Melinda Gates are not your usual billionaires though.

No, unfortunately they’re not typical. The world would be in better shape if they were.

No. Tax assets. Simple.

Income tax is inherently I fair anyway. As is VAT. because they're only paid on earnings not wealth (income tax) or purchases (VAT) or which poor people need to spend the bulk of their money. Whereas rich people just hoard it

well looking at the top 25, 18 are american and most of the top 25 do what could be considered philanthropy.
but there is reported to be over 3000 multi billionaires worldwide.
yes i'm sure of those some might be shady but are more of the 3000 shady vs public citizen 3000 who do cash in hand, dodgy tax fillings, "unique" family set up's etc which are tax burdens to the state.

As Balzac said “Behind every great fortune lies a great crime”

Further to my last post.

Here is some information on BlackRock from official sources from Google and BlackRock.

Tedious to read. But gives you an idea about who is operating in the global economy and just how they ooerate

BlackRock is a global investment management corporation. They are the world's largest asset manager and a leading provider of investment, advisory, and risk management solutions. BlackRock manages trillions of dollars for clients worldwide and plays a significant role in the global financial system. Their purpose is to help people experience financial well-being.

Here's a more detailed look:
Global Reach: BlackRock has a presence in 36 countries with 78 offices.

Asset Management: They manage a vast amount of assets for a diverse range of clients, including institutional investors and individuals.

Financial Technology: BlackRock is also a provider of financial technology, notably the Aladdin platform, which is used by many financial institutions.

Influence: Due to the sheer volume of assets they manage, BlackRock has a significant influence on global markets and corporate governance.

Fiduciary Duty: They act as fiduciaries for their clients, meaning they are legally obligated to act in their clients' best interests.

Investment Stewardship: BlackRock Investment Stewardship engages with companies on behalf of their clients to promote sustainable business practices and corporate governance.

Key Figures: Laurence Fink is the co-founder, chairman, and CEO of BlackRock.

BlackRock Aladdin
Aladdin" in the context of investment management usually refers to the Aladdin platform, a sophisticated electronic system developed by BlackRock Solutions, the risk management division of BlackRock Inc., the world's largest investment manager.
Here's what you should know about Aladdin:
Comprehensive Investment Management Platform: Aladdin is more than just a risk management tool. It's an integrated platform covering the entire investment lifecycle, from portfolio management and trading to compliance, operations, and risk oversight.
Risk Management Focus: While encompassing the whole process, a key strength of Aladdin lies in its advanced risk analytics, providing transparency and facilitating informed decision-making for managing risk across various asset classes, <a class="break-all" href="https://www.google.com/url?sa=i&source=web&rct=j&url=www.cipfa.org/-/media/CB4D0B28D4C24CD3BB1220C824FF30AA.pdf&ved=2ahUKEwijnY7CsPeOAxULXUEAHZMOINMQy_kOegQIBhAC&opi=89978449&cd&psig=AOvVaw2keHPkNgvu5Y1CJt5T-cgM&ust=1754610743832000" rel="nofollow" target="_blank">according to CIPFA.
Wide Adoption: Aladdin is used by thousands of investment professionals worldwide, including BlackRock itself and over 200 other clients, handling trillions of dollars in assets. As of 2020, Aladdin managed $21.6 trillion in assets.
"Language of Portfolios": Aladdin aims to provide a common data language across investments, operations, and data, allowing for scalability, efficiency, and unified insights into the "whole portfolio," including both public and private markets.
BlackRock's Growth: Aladdin and its advanced risk management capabilities played a significant role in BlackRock's rise to its dominant market position today, particularly in the aftermath of the 2008 financial crisis when risk management became crucial for investments.
Aladdin Wealth: Aladdin also offers specialized solutions for wealth management firms through the Aladdin Wealth platform, which focuses on providing tools and analytics for advisors to better serve their clients, <a class="break-all" href="https://www.google.com/url?sa=i&source=web&rct=j&url=www.blackrock.com/aladdin/products/aladdin-wealth&ved=2ahUKEwijnY7CsPeOAxULXUEAHZMOINMQy_kOegQIBhAH&opi=89978449&cd&psig=AOvVaw2keHPkNgvu5Y1CJt5T-cgM&ust=1754610743832000" rel="nofollow" target="_blank">according to BlackRock.
In short, Aladdin is a powerful and widely adopted technology platform that serves as a cornerstone for modern investment management, particularly for large institutions and wealth management firms seeking comprehensive risk analysis, efficient operations, and data-driven decision-making across their investment portfolios.

Absolutely, those at the top who know how to play it to reap more.

One of my personal examples...

Friend is an accountant at a high level and got a new job at top level within the care home sector. He was told immediately to put £1 into the shares scheme and months later he got a payout of £174 000. His manager got more and the executive manager gained over a million 😳

Absolutely true experience and I was disgusted. The top level have the know how and means to perpetrate this, meanwhile the carers dont get a lookin and the homes are run to maximum profit and minimum meal allowance!

The cost of these homes is phenomenal for those in them/their families or the state. So, to provide the cheapest meals, lowest amount of care staff, all to maximise profits and share it amongst the ones who already get a huge wage is diabolical.

My friend does have principles and sees it's wrong but while he's reaping the benefits he doesn't care that much.

What was Bill Gate's crime?

He's the exception that proves the rule!

It's definitely a 'divide and conquer' regime.

Just giving you something bigger and closer to home to focus your indignation on.

The traditional cry of the desperate.

Is he though? There were loads of articles about Microsoft having anti-competitive practices and putting others out of business unfairly. Which was why they were trying for years/decades?? to break it up with the government lawsuits. It's just become such a complex subject though and they had so many lawyer and resources to throw at it they've probably managed to hide a lot of wrong doing or find ways to get away with it. Although that doesn't negate the huge amount of good done with the Microsoft foundation. That has to be applauded.

I think you'll find most of it is pensions actually.

You think Tory’s lined their pockets to the tune of £5b a year? Because that’s how much it costs to house, feed, provide gym membership etc to “asylum seekers”.

And care home owners don’t have to declare profits.
It's exploitation of the most vulnerable.
Df’s care home is £2500. Per week. That doesn’t include what they get from the NHS.
if all 52 beds are filled that’s over £6 million a year.

Even after mortgage, staff, equipment etc they must be making over a million in profit, perhaps 2 million.

Tories and their cronies yes I do hth. And it was the same Tories that spent such ridiculous amounts of hotels instead of fixing the asylum system.

Agree with the last part of your message - only Reform will sort that out properly I think

Uncle Nigel would shit his pants if he got a whiff of power they're all in for the money too he'd get jack all sorted 😂😂😂

@usernamealreadytaken - totally agree
It was possible and is possible to make good choices without privilege. I left a poor northern town to go uni and study. Then never went back home.

My school had been a good grammar school before the 80s and was now a left wing ideology style sink comprehensive with a catchment of the local massive council estate.

I trashed my 20s working extremely hard, taking post grad exams. Married had kids.
if you met me in rl you’d no doubt say I was privileged because you wouldn’t know my background. I don’t consider myself so - it was hard but I didn’t think about that at the time.

Infuriatingly - now, my children would be pretty much excluded from applying to civil service jobs because they would be deemed not poor enough etc.

The general feeling I have today - is that ‘work hard and pull yourself out of poverty’ - but don’t do too well otherwise we will tax you, label you as privileged and see any earned wealth, now that you are retired, as fair game for a tax raid.