Who is getting richer?

[Forgetmenot157]

During the massive economic crash the world is heading towards.. who benefits? I know nothing about economics so generally just wandering this.

What I mean is that money just doesn't disappear so everyone, every company and country is poorer. Somewhere along the line someone must be much richer to make everyone else poorer? When I say everyone else I'm talking countries not individuals.

Or is that the point that in fact there isn't many people benifitting and just the money is staying still. Which is why they predict a fast bounce back once restrictions are lifted?

I may sound like an idiot, I just didn't have a clue.

[notdawn]

Why is Bezos horrible?

[idril]

@echt

StatisticalSense would you care to show how pensioners are getting richer?

Pensioners have got richer relative to the rest of the population in recent years and are likely to gain futher due to covid because of the triple lock and less exposure to unemployment.


www.ifs.org.uk/uploads/R170-Living-standards-poverty-and-inequality-in-the-UK-2019-2020%20.pdf

[Yohoheaveho]

the rich

[Yohoheaveho]

@Beecham

It's shocking that billionaires have got so much richer this year. How do they even sleep at night?

They believe that they are worth it, that they are self made and their vast wealth completely legitimate

[idril]

Pensioners on average have got richer. Of course there is inequality within pensioners - that goes without saying but economics policies can't be individual specific. They have to target groups of people.

[Yohoheaveho]

@blueangel19

Me! I have use the lockdown to educate myself on how to get richer. I have saved quite a bit because I am being much careful and with goals towards investment.

I also feel like without Amazon lockdown would have much worse so happy for then to make money.

I wonder how Uber is doing?

do you not think it would be better if they paid a fair amount of tax and gave something back to the countries and communities on which they feed?

[Dazedandconfused10]

I have. From saving money and also managing somehow to get a promotion with (what I feel) is an absolutely mad payrise

[notdawn]

Don’t understand the hate towards billionaires.

[Baaaahhhhh]

Many billionaires give away millions per year to charitable causes. There is a list somewhere I found.... It is quite interesting, and not something that is always acknowledged, which I think is quite sad actually.

[U8myufo]

Tax dodging. Might be one reason for the Amazon thing.

[Whatdowehaveherethen]

I'm getting a lot of of overtime at the moment as a civil servant. DP started working again in June after over a year of searching since he was let go from his last job. I'd say we are getting richer. We had an awful year using savings and scrimping and saving where we could. We very much appreciate our stable jobs now. In no way are we 'rich' to other folk but given the climate, we are able to save for our home with no worries. In my mind, we are stinking rich given what many people are going through.

[notdawn]

It’s not tax dodging though is it?

[Yohoheaveho]

@Baaaahhhhh

Many billionaires give away millions per year to charitable causes. There is a list somewhere I found.... It is quite interesting, and not something that is always acknowledged, which I think is quite sad actually.

www.theguardian.com/news/2018/may/24/the-trouble-with-charitable-billionaires-philanthrocapitalism
More and more wealthy CEOs are pledging to give away parts of their fortunes – often to help fix problems their companies caused. Some call this ‘philanthrocapitalism’, but is it just corporate hypocrisy?

'Essentially, what we are witnessing is the transfer of responsibility for public goods and services from democratic institutions to the wealthy, to be administered by an executive class. In the CEO society, the exercise of social responsibilities is no longer debated in terms of whether corporations should or shouldn’t be responsible for more than their own business interests. Instead, it is about how philanthropy can be used to reinforce a politico-economic system that enables such a small number of people to accumulate obscene amounts of wealth'

[Louiselhrau]

@Beecham

It's shocking that billionaires have got so much richer this year. How do they even sleep at night?

Yeah because the rich are all like boogy men lurking to strike at helpless old ladies handbags.

Thank the lord for all the billionaires, they've been the people who most of the benefits paid to workers hit by the virus have been able to still get paid because of.

How do u think we can afford to pay so many benefits to the poor? As the rich get richer, the poorer also get richer too. Might be worth remembering that before naively grouping them as some kind of evil menace.

[Baaaahhhhh]

It's actually the Sunday Times Giving List, but it's behind a paywall. Stormzy's on the list, as are footballers and musicians. I wouldn't necessarily put them in the executive corporate classes, maybe the Guardian would like to comment.

[blueangel19]

all Yohoheaveho

I do think they should yes. Actually, it is a big problem with tech companies but I can’t deny I am happy Amazon makes my life easier and have given jobs to people would be otherwise unemployed.

[blueangel19]

But I must also add that I do not think the rich are enemies. Big companies must help communities and be ethical and pay taxes. Help to educate and train communities so that people can progress.

I grew up in a country where the basics healthcare, education and low income housing are provided. This should have helped to get people out of poverty but it doesn’t there are still lots of poor people.

[hopefulhalf]

Me, NHS doctor, my outgoings are hugely reduced, our trust has given us 2 one off payments for our hard work over the last few months and a payrise of 3%. I am saving about 2k a month. I am lucky I have a "desk speciality" and mostly WFH with 1 face to face outpatient clinic a week.

It's still fucking miserable I miss my patients, I miss my colleagues, I miss my holidays. I am working so hard to give a substandard service. I would give every penny I've earnt this year to live 2 weeks in 2019.

[hopefulhalf]

That's just work obviously I miss my friends, church and family too.

[IheartNiles]

@hopefulhalf

Me, NHS doctor, my outgoings are hugely reduced, our trust has given us 2 one off payments for our hard work over the last few months and a payrise of 3%. I am saving about 2k a month. I am lucky I have a "desk speciality" and mostly WFH with 1 face to face outpatient clinic a week.

It's still fucking miserable I miss my patients, I miss my colleagues, I miss my holidays. I am working so hard to give a substandard service. I would give every penny I've earnt this year to live 2 weeks in 2019.

Bloody hell where do you work? I’ve not had a penny. Or a pay rise.

[hopefulhalf]

I not sure I should name the trust the CEAs are being split equally between all eligible consultants. Our department has also given us an extra PA for August,September and October to reflect increasex admin of remote working. In the South East but not London.

[DdraigGoch]

China will have benefitted hugely. Who do you think made the millions of masks everyone's wearing?

[Stellaris22]

Why is Jeff Bezos horrible?

Really??? You mean besides tax dodging and terrible treatment of employees?

[notdawn]

But he doesn’t tax dodge.

[Stellaris22]

😂

Sure .....