Millionaires

[Jeffrey Shaw]

1 hour ago, muddycoffee said:

It depends how you count being "a Millionaire". (Assets value + Lifetime earnings) would put quite a proportion of the Local population in that bracket.

£25k (Average) x 40 years means most people now will earn that anyhow over a working career.

And house prices; I'm told that most London houses 'earn' more than their owners do!

[carosio]

3 hours ago, catmiss said:

I don’t hate millionaires or billionaires as long as they and their companies pay the relevant taxes

If they didn't, they would likely be prosecuted for tax evasion.

[catmiss]

3 minutes ago, carosio said:

If they didn't, they would likely be prosecuted for tax evasion.

But not for tax avoidance 

[carosio]

Yes, you can't prosecute anyone whose actions are legal.

[RollingJ]

Well said, @carosio!

[ECCOnoob]

6 hours ago, makapaka said:

I don’t think people hate people for being rich.

 

if my neighbour won a million on the lottery I’d be pleased for him.

 

the dislike of lots of rich people is where they arguably become rich at the expense And exploitation  of others - which is unfair.

 

Some of the names mentioned above fall into that category.

 

 

I can see that.  People's expectations are always wildly off the mark and I still believe there is an element of jealousy creeping in.   The harsh fact is that exploitation and expense of others is the realities of business.   

 

Successful businesses keep one step ahead of the game by being first and best in the market for the cheapest or even minimal outlay.   Simple as that. 

 

At some point along that journey it is inevitable that there will be elements of distastful behaviour.  That includes extracting every last drop for as cheap as possible out of your assets and labour and resources.  That will also include exploitation by making sure that you are doing every tactical, strategic and any other legal loophole you can find to make sure that you get ahead of the game both financially and in the market.

 

That is how people become billionaires in the first place.  It's a step by step process of learning how to firstly make money, keeping successful to maximise  it and then taking every step you can to ensure you keep it.    

 

Of course there has to be some control of fairness and equality and public duty and philanthropy but that doesn't make money and at some point the ruthlessness side kicks in.  

 

I don't care what people try and portray about themselves. We all have that side in our personality and to be successful and make money you have to show it.  

 

Myself and my colleagues have often had this conversation in the office.  As with many work places we are all in it together.  We are all there getting along.  We are a band of brothers a close-knit community networking and supporting the rest of our profession.  But if the proverbial hit the fan we will be jumping all over everyone to be on top. 

 

Furthermore, being born into money or suddenly acquiring it through winnings doesn't automatically mean that they have an easy ride either.  There are plenty of cautionary tales of those who had it all and then lost it.  

Edited May 31, 2020 by ECCOnoob

[Guest makapaka]

2 hours ago, ECCOnoob said:

I can see that.  People's expectations are always wildly off the mark and I still believe there is an element of jealousy creeping in.   The harsh fact is that exploitation and expense of others is the realities of business.   

 

Successful businesses keep one step ahead of the game by being first and best in the market for the cheapest or even minimal outlay.   Simple as that. 

 

At some point along that journey it is inevitable that there will be elements of distastful behaviour.  That includes extracting every last drop for as cheap as possible out of your assets and labour and resources.  That will also include exploitation by making sure that you are doing every tactical, strategic and any other legal loophole you can find to make sure that you get ahead of the game both financially and in the market.

 

That is how people become billionaires in the first place.  It's a step by step process of learning how to firstly make money, keeping successful to maximise  it and then taking every step you can to ensure you keep it.    

 

Of course there has to be some control of fairness and equality and public duty and philanthropy but that doesn't make money and at some point the ruthlessness side kicks in.  

 

I don't care what people try and portray about themselves. We all have that side in our personality and to be successful and make money you have to show it.  

 

Myself and my colleagues have often had this conversation in the office.  As with many work places we are all in it together.  We are all they're getting along.  We are a band of brothers a close-knit community networking and supporting the rest of our profession.  But if the proverbial hit the fan we will be jumping all over everyone to be on top. 

 

Furthermore, being born into money or suddenly acquiring it through winnings doesn't automatically mean that they have an easy ride either.  There are plenty of cautionary tales of those who had it all and then lost it.  

I don’t mean it was unfair on the rich person! I meant unfair on those that are taking advantage

of!

 

cant stand the likes of Branson etc 

[ECCOnoob]

48 minutes ago, makapaka said:

I don’t mean it was unfair on the rich person! I meant unfair on those that are taking advantage

of!

 

cant stand the likes of Branson etc 

Just to clarify I know you didn't mean unfair to rich persons.

 

The point I'm trying to make is that this whole thing about who is "being taken advantage of" is arguable.  

 

To make a lot of money people take advantage of others all the time.  It's business.  We all do it in our own workplaces all the time.  We do it whenever we are trying to get a pay rise or a promotion or when having to face redundancy.  

[Guest makapaka]

I dont.

10 minutes ago, ECCOnoob said:

Just to clarify I know you didn't mean unfair to rich persons.

 

The point I'm trying to make is that this whole thing about who is "being taken advantage of" is arguable.  

 

To make a lot of money people take advantage of others all the time.  It's business.  We all do it in our own workplaces all the time.  We do it whenever we are trying to get a pay rise or a promotion or when having to face redundancy.  

I don’t.

[Waldo]

I think there’s a lot to be said for financial intelligence, how to most optimally use, invest and grow your money. People who come in to money by way of lottery wins or inheritance etc; if they don’t have the right financial wherewithal they’ll likely not hold on to their wealth very long.