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

Just because they don't feel rich doesn't mean they aren't, in relative terms.

Wealth inequality isn't about the salaries of different workers. Its about the top 1% holding 23% of the wealth, the top 10% holding 57% of the wealth and the 50% at the bottom having less than 5% between them. A working family with a mortgage earning six figures compared with a family on NMW is neither here nor there really. Its about the assets hoarded by the extremely wealthy. The rest of us are all just workers, our circumstances dependent on our ability to earn, and a few pay checks away from having nothing at all.

But what is a "middle class lifestyle"?

How do you think people are managing to sustain a high income, if not working hard?

There are usually some quite considerable expectations for those earning large sums…

Although there's nothing wrong with chosing life over a job. My DH often says there are people who work with him who just want to go home at 5pm and their job is done, whereas he'll be answering emails and writing papers into the evening and dealing with emergencies at the weekend, yet the 5pm people will criticise him for the larger salary.
We've also relocated for better jobs and that comes with its own costs.
Sometimes you take your money and make your choices.

I agree with you, OP. As people get more wealthy they tend to surround themselves with those of the same lifestyle and wealth level, it just happens naturally. When your whole circle concists of people living fancier lives than most, it's easy to believe thayt's how it is for others because it your eyes it pretty much is.

Savings are often a luxury for folk on average or below average incomes.

A “standard middle class lifestyle” has never included having a second home.

My personal favourite is when people on 100k+ with kids in private school describe themselves as “middle class”.
I have nothing against people more wealthy than me btw but stop claiming you’re “middle” anything when you have bucket loads more cash than the average Joe 🤣

A 2 up 2 down in my part of the country is £600k …

It's very rare that they've done nothing at school, didn't do any study, didn't work hard and intelligently to to go into the right companies to start their career and don't work that hard.

Maybe some work a lot less, because they work smartly and maybe they reach the point where the few hours they do are more valuable than the 12 hours of the data entry clerk.

How hard someone works in their particular field is irrelevant, and not quantifiable in any case. It’s completely subjective. And there’s no moral obligation on the part of someone who you seem to think works less hard to share the reward of their labour with those who (in your subjective opinion) work harder.

The income is awarded as part of the job, once in the job many top level folk don't actually earn their money,

Everyone is impacted by the increase in the COL.
Whether it turns their life into a crisis is surely dependent on their income and assets.

Living pay day to pay day - an increase of £50/month on your gas/elec may tip you into crisis ie not enough for food or to get petrol for the car.

Living in a very large house with 2 fancy cars on the drive and kids in private school - you still have many, many options when your outgoings increase dramatically ie you will still have somewhere to live and you will not go hungry.

“The polling of more than 4,000 people suggested that owning a house outright, having more than £1 million in cash savings and earning a six-figure salary were unlikely to make us feel well-off.”

Ok this is just crazy.

I was replying to a comment which mentioned how hard high earners work, merely adding that people of all levels may work hard.

I think this is pretty unrealistic.

People get paid well because of their performance, or having very niche skills. Companies aren’t just paying people six-figure salaries for the hell of it.

Spot on.

The rich person is not the accountant or middle manager who earns £100k. The rich person is the owner or CEO of the company which employs her.

Um, I'm not complaining, I'm actually telling others to stop complaining.
I'm also not a 'rich bastard'.

That's quite a naive view.

Just because someone on NMW in this country is struggling to do a basic food shop doesn’t mean they’re not richer than the vast majority of the rest of the world, in relative terms.

What are these politics?

Wow - yep that sounds out of touch.

Are you quoting the wrong person?