El Cid Posted September 3 Share Posted September 3 Why do some people have a problem with millionaires? It's not a great deal of money these days, but still, no reason for the negativity. I don't fully own my own house yet, but I would love to be a millionaire. Wouldn't you, do you have a favourite millionaire? Some, many, give to charitable causes. https://www.jrct.org.uk/ Link to comment Share on other sites More sharing options...
cressida Posted September 3 Share Posted September 3 Liam Neeson is a millionaire but I wouldn't take his money. Link to comment Share on other sites More sharing options...
Bamanamanana Posted September 3 Share Posted September 3 1 hour ago, El Cid said: Why do some people have a problem with millionaires? It's not a great deal of money these days, but still, no reason for the negativity. I don't fully own my own house yet, but I would love to be a millionaire. Wouldn't you, do you have a favourite millionaire? Some, many, give to charitable causes. https://www.jrct.org.uk/ I don't, I agree it's not much these days. Link to comment Share on other sites More sharing options...
peak4 Posted September 3 Share Posted September 3 I'm not sure that most people do have a problem with millionaires, particularly when you take property values into account. Many folk, me included, do have an issue with the rich who secrete their wealth in off-shore bank accounts to avoid tax. Some people do like to use the term as a means of criticism, but that often involves hypocrisy, sometimes of the commentator, but also often of the person criticised. Link to comment Share on other sites More sharing options...
ECCOnoob Posted September 3 Share Posted September 3 1 hour ago, peak4 said: I'm not sure that most people do have a problem with millionaires, particularly when you take property values into account. Many folk, me included, do have an issue with the rich who secrete their wealth in off-shore bank accounts to avoid tax. Some people do like to use the term as a means of criticism, but that often involves hypocrisy, sometimes of the commentator, but also often of the person criticised. Why? Lots of ordinary non-millionaires take steps to legally avoid / reduce their tax liabilities. They place things into trusts, they gift things out to their children, they sign up to pension schemes, they put their savings into ISA accounts, they utilise accountants to claim various allowances on business expenditures, charitable donations, they take advantage of tax-free shopping facilities, they will make sure they maximise their personal spousal and residency band rates.... Tax avoidance is legal. If people don't like that, they can campaign to their MPs and parliament to change the law. However, until such time as they do, no one has a right to be criticising anyone else about using legal tax avoidance. Quite rightly, millionaires will have the most interest in taking such measures because they are at risk of having the biggest tax liability. But it's all relative. If ordinary people can freely use tax avoidance / tax reduction measures without criticism, why do people think they're the right to criticise those with wealth. They are simply doing exactly the same just on a bigger scale. Seems like those critics are just showing pure jealousy. 3 Link to comment Share on other sites More sharing options...
El Cid Posted September 3 Author Share Posted September 3 4 hours ago, peak4 said: I'm not sure that most people do have a problem with millionaires, particularly when you take property values into account. Many folk, me included, do have an issue with the rich who secrete their wealth in off-shore bank accounts to avoid tax. Some people do like to use the term as a means of criticism, but that often involves hypocrisy, sometimes of the commentator, but also often of the person criticised. I have a SIPP which gives me a legal tax advantage, how many ordinary people would invest their money in a bank in Jersey that offered a higher interest rate and tax-free? Link to comment Share on other sites More sharing options...
Al Bundy Posted September 3 Share Posted September 3 17 minutes ago, El Cid said: I have a SIPP which gives me a legal tax advantage, how many ordinary people would invest their money in a bank in Jersey that offered a higher interest rate and tax-free? All of them. But some would come on the internet and say it's wrong for appearance sake. Link to comment Share on other sites More sharing options...
Draggletail Posted September 3 Share Posted September 3 7 hours ago, El Cid said: Why do some people have a problem with millionaires? It's not a great deal of money these days, but still, no reason for the negativity. I don't fully own my own house yet, but I would love to be a millionaire. Wouldn't you, do you have a favourite millionaire? Some, many, give to charitable causes. https://www.jrct.org.uk/ All relative obviously. A million might not be a lot to some, but to someone struggling on benefits or homeless, it's an unattainable fortune beyond dreams.... Link to comment Share on other sites More sharing options...
hackey lad Posted September 3 Share Posted September 3 I'm a good man today . If I win millions on the lottery tomorrow , would I become a bad man ? Link to comment Share on other sites More sharing options...
Draggletail Posted September 3 Share Posted September 3 (edited) 4 minutes ago, hackey lad said: I'm a good man today . If I win millions on the lottery tomorrow , would I become a bad man ? I suppose that might be judged by some people on how you choose to spend it... Edited September 3 by Draggletail typo Link to comment Share on other sites More sharing options...
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