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

[Neeroy]

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. This is why the budget is poorly received in the news, because rich people think they already shoulder too high a burden when in fact compared to everyone else they still have far more disposable income. Even if they have to cut down on the number of holidays they go on. They aren't sitting in the dark under a blanket. Or only making food that doesn't require turning on the oven.

I don't think they realise how so many people have to live.

www.thetimes.com/article/1fb46414-8f65-436f-8f95-451d69626148?shareToken=8061d939633164c0dfbd805240c8e008

Why use the word greedy - if no one aspired to create companies to employ people - what do you think would happen? Who employs you?

My post doesn’t apply to you then does it?

No one. I retired early. When I was employed - the people. I worked in LG.

Earned wealth is taxed more highly for starters. Inherited wealth is in trust funds, tax avoidance schemes. People with inherited wealth know how to retain it.

Most rich people inherit. Not many people earn £30 million and many people who earn wealth struggle to keep it as they mostly stop earning at some point, but still have the huge expenditure.

Ok so you are not a net contributor - and you haven’t been - to the country. How lucky that other people are motivated by money and have subsidized you. I’m sure they’d love to know that you pity them.

What you earn isn’t the whole picture. Someone in one part of the country could live in a grand house whereas someone in London or the south east would, for the same money be able to afford a maisonette or middle of terrace in a very ordinary suburb.

one would feel richer than the other. But the maisonette person might earn significantly more.

Where do you think that cushy pension comes from then?

A quick post fired off whilst eating breakfast has certainly taken off!

In my haste to post and go to work I don't think I worded my OP necessarily how I would have with more thought.

Wealth inequality means people cannot fathom how others are living. I do agree with the distinction between rich and mega rich. But it's interesting that people are caught up on the disposable income part. Giving examples of £3k mortgage and £2k childcare and that's where the £100k goes. Without any awareness that if you don't have the money for a deposit and don't even earn £3k a month that 'only' having e.g. £900/month left as disposable income seems a privilege only afforded to 'rich' people.

It is obscene the amount of power billions can buy. E.g. Elon Musk and generations of family wealth who never need to work and live off their investments. And that is mega rich. But honestly, earning £100k year means you then expand your lifestyle to fit your earnings. And fair play to you. You do what you want with your hard earned money. But you are considerably richer than c.90% of the population.

Try using this calculator. £100k household income. 2 adults. 2 children aged 0-13. £300/month council tax. Your income is higher than 89% of the population. Even when you add in £3k housing costs you're still richer than 71% of the population.

2 adults earning £40k each and you're still in the top 69%. Rich is relative.

ifs.org.uk/tools_and_resources/where_do_you_fit_in#tool-results-section

Okay…your views are simplistic.

Wealth inequality doesnt mean that people cant fathom how others live. It means the gap between the richest and poorest in society is getting bigger. I am a health care professional NHS middle earner, and I know very well how others live. I have worked in the homes of some of the most deprived families in the most deprived areas. I have volunteered in areas of Africa and Vietnam which made those deprived areas look like palaces. I still dont have any disposable income at the end of the month whilst living a modest lifestyle. I dont think I should pay a lot more tax than I do. I think millionaires and billionaires who have vast wealth should definitely pay more. I think the personal allowance should be raised so those on low incomes should pay less. I think saying people should just get better jobs is ridiculous because there will always be lower paid jobs that are essential to society such as carers and bin men and cleaners and teaching assistants etc. These jobs should pay a wage that affords those doing the job a decent quality of life because we should be thankful these jobs are being done and we should want everyone to live with dignity and respect their contribution to society.

Perhaps the saying “money doesn’t buy happiness” is true and they are experiencing that but tell themselves that if they just earn more then they will be happy.

Greedy cunts.

It’s just envy you are experiencing

Sounds pretty resentful to me

Why do you care where people send their kids to school?

Reading more of the thread, people saying e.g. £2k on nursery fees and e.g. £400 on car finance. I couldn't afford £2k of nursery fees so I had to use a cheaper childminder and get help one day a week from a family member. Thank goodness I had that because essentially it was double pay that day. I have also NEVER had car finance. I can't afford that per month! I bought a car when I got my first job and then saved immediately for the new one. So when the old one needed fixing I used the car savings to fund it. When it got to the end of its life and became costly to fix I would part ex it for a new one. I've only ever bought and driven what I could afford. My car is currently 11 years old and because it's a boringly reliable brand it'll last me a good few years more. Is it desperately dull? Yes. Would I love a shinier, newer one? Yes. But when you don't earn £100k you don't get to make the nice choices.

Someone called it lifestyle creep. The more you earn, the more you spend. So then the credit or outgoings obligations feel like a millstone around your neck. But if you lived in my house, drove my car and used my childminder you'd have a lot more money to spend!

Me and my employer. I paid 6% of my salary for 42 years and they topped it up.

Thank you 🤣🤣🤣

Random Z in your post 😆

Great if you can get a childminder. They're like rocking horse poo around here and about £50 a month less than nursery when you can get one.

And family members looking after kids are great if you have them.

So a lot of luck there.

Which 50 families? I’ve seen ZP saying this online but he hasn’t named them. I’m genuinely interested in who they are so that their tax v income/ capital gains can be compared. Happy to look into.

Look up.

Poor people have nothing more to give. They will die or steal.

Look up.

That's the only way you get to keep more of what you have.

Look up.

Those below you are already exhausted.

Look up.

If you don't, you will just join their ranks.

I don’t. Fools and their money…

Also this. Demonising the 'benefits class' setting it apart from 'Hard-working families' when

1. the in work benefits bill is huge, subsidising low wages. In work + low wages can still include hard-working families

2. the disability benefits bill is huge, because being disabled is difficult and expensive, and can still include hard-working families.

So we have £100k earners who feel poor and hard-working families who are being destroyed to pay for the benefits class.

Today is a day I wished I'd buried my head in the duvet and gone back to sleep.

But you know that's bullshit. You know where the money goes. Look up.

How do I experience being rich, how do I stop being a poor person?

Do you all remember in COVID when people got col payments?

You know why they got them right?

To prevent widespread riots and to kickstart the economy and make our stats look better.

Poor people put every single penny they have back in the economy. Middle class people too.

Rich people don't. They remove it.

So look at when the poorest in society got their col payments. And it baffles me why this very obvious financial play has never been called out.

Just before Christmas. Just before Easter. At the start of the summer holidays.

To put the money back into the economy to kick start it.

But the same people telling you these poor people are starving you of wealth are the same people that used them to kick start the economy.

Bit of a financial dissonance isn't it?!

Look up.