What do each of US feel about Wealth Inequality.

[BZN]

I reckon there is a movement starting, to highlight the inequality of wealth distribution around the world.
There was a tax extreme wealth rally on 25th March outside HM Treasury just down the road from Big Ben and the Houses of Parliament.
The rally included groups like War on Want, Greenpeace and Oxfam.

New York hosted the Wall St. Journal magazine Innovator Awards 29th Oct. 2025.
Mark Zuckerberg and other billionaires were in attendance.
Billy Eilish was the recipient of the award and included in her acceptance speech was a gentle challenge if you're a billionaire, why are you a billionaire? no hate but give your money away.
Billy Eilish also pledged $11.5 million from her 'hit me hard and soft' tour earnings, which will be directed to food equity, climate justice, reducing carbon pollution as well as other social and environmental causes.

 

[hammertime]

I reckon there is a movement starting, to highlight the inequality of wealth distribution around the world.
There was a tax extreme wealth rally on 25th March outside HM Treasury just down the road from Big Ben and the Houses of Parliament.
The rally included groups like War on Want, Greenpeace and Oxfam.

New York hosted the Wall St. Journal magazine Innovator Awards 29th Oct. 2025.
Mark Zuckerberg and other billionaires were in attendance.
Billy Eilish was the recipient of the award and included in her acceptance speech was a gentle challenge if you're a billionaire, why are you a billionaire? no hate but give your money away.
Billy Eilish also pledged $11.5 million from her 'hit me hard and soft' tour earnings, which will be directed to food equity, climate justice, reducing carbon pollution as well as other social and environmental causes.

It's a good question BNZ.

I'm actually lucky in that I'm probably on the more fortunate side, but I see the massive issues with wealth inequality. The way that the super-rich can stack assets, with smaller fractional outgoings (as they still only support 1 person/family), it means the wealth divide will just grow larger and larger.

There needs to be a more appropriate wealth taxation. One that taxes assets based on asset gains more effectively, not income. Maybe even unrealised gains. GST can also be effective, but consumption again for 1 individual is limited.

But you need to do it in a way that is based on asset location, not the location of the individual. Otherwise, there are loopholes.

Mark Bouris recently talked about a flat 20% tax rate, and we need to be careful about selfish blokes like that. It would just make people like him richer. We're lucky that there are the Bill Gates and buffets of the world at the moment who will give back, but we can't rely on that. As for every Bill Gates, you have a Jeff Bezos.

There is a good ex-trader, Gary Stevenson, who talks about all this.

 

[supercoach]

The trouble today is no political party has the courage to make the really hard calls on wealth inequality. This is for a few reasons, one is they are a sector that benefits heavily from the current system with massive superannuation accounts. They also are sector very active in negative gearing. They are also very reluctant to upset the big end of town as that’s where they get the dollars to run a political party.

The big worry is the growing popularity in far right politics and they are all about power and wealth being in the hands of a few while the rest struggle. The funny thing is, if our politicians had not sold out all our mineral wealth to the multinationals and gone down the path of a few Scandinavian countries by starting up a investment fund with the taxes and royalties they gain through the North Sea oil. I think I read Norway has a trillion dollars in the bank.

Anyway Iam a boomer so Iam on the right side of the inequality but I really worry for my grand kids and people who don’t have the bank of mum and dad behind them

 

[Tom Shines]

Multi nationals should pay more tax ..( a lot of them don’t pay anything) ,,,

Also things like trusts and similar tax avoidance means used by the rich should be less prevalent

Those things are difficult to implement tthough by governments of both persuasions, and can lead to wealthy residents moving overseas and Companies threatening to close down creating less employment

Much easier just to increase other taxes paid mostly by the middle classes … we know that government spending never goes down and they need to get the money somewhere ..( or just print more…)

 

[Tim Sheens]

It is way past time for action @BZN

Basically half a century now since the right really started dismantling relative economic equality at pace. More recently they have been increasingly targeting minorities and immigrants, whilst also using religion to ferment bigotry and hatred. Simply because they are the only things left to blame other than themselves, and continue fooling the gullible despite the horrific disparity in their lives with their lies.

 

[BZN]

What prompted me to ask this is I noticed an MSN item on the comp. this morning titled "Why more millionaires are suffering from 'wealth shame''.
Ok you've got my attention, so I had a look.
Amongst other things it says>>>The wealth gap in the UK has widened by 50% in the past 8 years [the rich are getting richer and everyone else is getting poorer].
The 50 richest families in the UK hold more wealth than the bottom 35 million people.
It then leads onto the Fairness Foundation saying the increasing wealth inequality could be a major driver of societal collapse within the next decade.

The Fairness Foundation UK is an interesting read, but I haven't gone into it deeply yet.
There are also similarly named groups in Germany and the USA.

 

[BZN]

It is way past time for action @BZN

Basically half a century now since the right really started dismantling relative economic equality at pace. More recently they have been increasingly targeting minorities and immigrants, whilst also using religion to ferment bigotry and hatred. Simply because they are the only things left to blame other than themselves, and continue fooling the gullible despite the horrific disparity in their lives with their lies.

I agree 100% TS.
Ever since that moron Trump, who is a convicted Rapist and Felon became President, it's sharpened my focus as to what's going on in our world.
My 88 years old brother has been warning me for years of the graft and corruption that's happening around the world, and I kept on saying "yeh yeh you can believe your conspiracy theories just leave me out of it".
But some of what he has been saying is becoming more obvious every day.

So yes TS, it's way past time for action.

 

[Tom Shines]

It is way past time for action @BZN

Basically half a century now since the right really started dismantling relative economic equality at pace. More recently they have been increasingly targeting minorities and immigrants, whilst also using religion to ferment bigotry and hatred. Simply because they are the only things left to blame other than themselves, and continue fooling the gullible despite the horrific disparity in their lives with their lies.

Neither side does anything to change this wealth gap …blaming it on one side only “the right “ is not helpful to this discussion …

If Albanese wanted to change things , he has had time by now - literally years … never mind many other occasions over the past half century when Labor has held power .. all the Labor politicians own 15 houses same as the Liberal ones did you notice ?

 

[Tito Santana]

if you really want to do something you will achieve it.

It’s not the governments responsibility to prop you up.

Long live capitalism.

I came from nothing and have done well for myself.

Stop blaming others for where you are.

 

[Tiger_heart]

To quote:

"Monopoly wasn't invented by the Parker Brothers, nor the man they gave it credit for. In 1904, Monopoly was originally called The Landlord's Game, and was invented by a radical woman. Elizabeth Magie's original game had not one, but two sets of rules to choose from.

One was called "Prosperity", where every player won money anytime another gained a property. And the game was won by everyone playing only when the person with the least doubled their resources. A game of collaboration and social good.
The second set of rules was called "Monopoly", where players succeeded by taking properties and rent from those with less luck rolling the dice. The winner was the person who used their power to eliminate everyone else.

Magie's mission was to teach us how different we feel when playing Prosperity vs Monopoly, hoping that it would one day change national policies.

When the Parker Bros adopted the game, they erased Magie, they erased the "Prosperity" rules and celebrated "Monopoly". This is why very few games of Monopoly end in better friendships! Some even end friendships! What they couldn't erase was Magie's lesson."

Moral of the story: Monopoly (as envisioned by Elizabeth Magie), highlights the pitfalls of unchecked capitalism. Through game play, it illustrates the inherent instability of economic systems and the widening wealth gap. Magie's original vision, advocating for communal wealth and fair taxation, serves as a touching lesson in today's world, where economic disparities continue to shape society.

Some things we are too late to the game to be able to change.

 

[mikey]

I have nothing against people having wealth; however, when you have trillionaires and billionaires, let alone large corporations, not paying an equitable share of tax when people who work can't afford to live near where they work, can't afford to buy or rent somewhere to live, can't afford to go to the doctor, can't afford to feed their families then something needs to change.
Not all people who are poor blame others for their circumstances as some would like us to believe. I've done OK in life and will hopefully will never have a need to ask the government for support; however, it doesn't stop me understanding the fact that the system is getting worse. It's these issues that lead to the rise of mass discontent, and then inevitable change.

 

[Tiger_heart]

if you really want to do something you will achieve it.

It’s not the governments responsibility to prop you up.

Long live capitalism.

I came from nothing and have done well for myself.

Stop blaming others for where you are.

In answer to your first point - Reality also has to be taken into account. If you have one eye and bad arthritis, your dream of becoming a fighter pilot may not be realistic.
Talent matters, hard work matters. People should be proud of their achievements and (hopefully) be rewarded for them. But for every successful person, there are I think at least 10 others who had just as much talent, worked just as hard, but never got that lucky break.
In so far as "long live capitalism" - I agree that is has significant benefis, such as fostering economic growth BUT also serious drawbacks, including wealth inequality and environmental damage.

 

[Betterdays22]

Cut income taxes to actually incentivise hard work.

Tax extreme wealth, tax multinationals properly, get our fair share from our resources and minerals.

Invest in health and education

 

[Betterdays22]

Neither side does anything to change this wealth gap …blaming it on one side only “the right “ is not helpful to this discussion …

If Albanese wanted to change things , he has had time by now - literally years … never mind many other occasions over the past half century when Labor has held power .. all the Labor politicians own 15 houses same as the Liberal ones did you notice ?

The centre right and left of politics have been ineffectual in reducing inequality, which has lead to these populist characters with unworkable solutions both on the left and right popping up globally.

 

[supercoach]

When you mention wealth inequality people tend to think of housing and money in the bank but it goes way deeper than that. Education, and health also a major factor. Okay life will never be a level playing field and people with absolute nothing will pull themselves to the top, but the odds are becoming so much harder. How can anyone justify a salary of 15 million a year like a few CEO’s when we have so many people who can’t make ends meet on a full time salary.

I don’t want to sound like a socialist but the current system doesn’t work. If everyone paid their fair share of tax from the multinationals national companies down to the battler in the factory the system might work. Unfortunately with negative gearing,trust companies and franking credits nothing will change

 

[Tom Shines]

The centre right and left of politics have been ineffectual which has lead to these populist characters both on the left and right popping up globally

Ok … can’t argue with that … decisions made by governments over the decades have not worked out for a lot of people and now they are looking at other alternatives which will supposedly solve their problems…

But this is a discussion about wealth inequality … so I’ll stick to that

 

[Tito Santana]

In answer to your first point - Reality also has to be taken into account. If you have one eye and bad arthritis, your dream of becoming a fighter pilot may not be realistic.
Talent matters, hard work matters. People should be proud of their achievements and (hopefully) be rewarded for them. But for every successful person, there are I think at least 10 others who had just as much talent, worked just as hard, but never got that lucky break.
In so far as "long live capitalism" - I agree that is has significant benefis, such as fostering economic growth BUT also serious drawbacks, including wealth inequality and environmental damage.

People with disabilities have set backs and yes they need help. I actually believe the NDIS is a good thing to help those in need.

Outside of that, it’s game on. Like footy, the harder you work makes you create your own luck.

Cant stand people who feel sorry for themselves.

 

[Tom Shines]

When you mention wealth inequality people tend to think of housing and money in the bank but it goes way deeper than that. Education, and health also a major factor. Okay life will never be a level playing field and people with absolute nothing will pull themselves to the top, but the odds are becoming so much harder. How can anyone justify a salary of 15 million a year like a few CEO’s when we have so many people who can’t make ends meet on a full time salary.

I don’t want to sound like a socialist but the current system doesn’t work. If everyone paid their fair share of tax from the multinationals national companies down to the battler in the factory the system might work. Unfortunately with negative gearing,trust companies and franking credits nothing will change

I got nothing against capitalism and people making money … history has proven it’s better than the other system where the same privileges exist but they go to the “party elites “rather than the wealthy…..

The problem in our system is greed and too much is never enough …

 

[Tito Santana]

I got nothing against capitalism and people making money … history has proven it’s better than the other system where the same privileges exist but they go to the “party elites “rather than the wealthy…..

The problem in our system is greed and too much is never enough …

What’s wrong with greed?

 

[Tom Shines]

What’s wrong with greed?

So you want a system where the top 1 percent controls half the wealth ?