£181k is all you need to be in the top 1% in the UK.
Comment on The Telegraph has deleted the seemingly made-up article
Aux@feddit.uk 1 month agoA household with £345k income is not rich, lol.
bollybing@lemmynsfw.com 1 month ago
Aux@feddit.uk 1 month ago
Top 1% workers, not top rich.
Look, here’s a thing. 40% of all land in England is owned just by around 200 families. And they are laughing their arses off when they hear that peasants earning £181k per annum are rich.
bollybing@lemmynsfw.com 1 month ago
Top 1% of income from all sources which includes your 200 mega rich families. 1% of 70m people is 700k people. Of course the top 0.1% are way richer.
Aux@feddit.uk 1 month ago
No, these 200 families don’t have PAYE income at all. Man, you people are so ignorant… No wonder the rich play you like the fools.
Ilovethebomb@lemm.ee 1 month ago
If you’re earning that much money, you’ll pretty quickly end up in the 1% of net worth.
And these people earn around 10x the typical household income.
Aux@feddit.uk 1 month ago
No, you won’t.
MrPoletki@feddit.uk 1 month ago
one day I might earn that much in a year.
TheGrandNagus@lemmy.world 1 month ago
A household with that income is very rich.
Jesus, toffs are so separated from reality it’s unbelievable.
Aux@feddit.uk 1 month ago
No, it’s not.
Feathercrown@lemmy.world 1 month ago
Nope, you’re wrong, look it up. Average income of the top 10% is like a third of that figure. …org.uk/scale-economic-inequality-uk/
NotJohnSmith@feddit.uk 1 month ago
I don’t know what planet someone is on to think that sort of money doesn’t put this family in “rich” territory.
Maybe it’s the differing interpretation of “rich”. Maybe it’s living in London and losing perspective because you’re surrounded by wealth and lose scale
Aux@feddit.uk 1 month ago
That’s irrelevant.
TheGrandNagus@lemmy.world 1 month ago
It objectively is.
mriormro@lemm.ee 1 month ago
Some folks barley scraping by need to throw your ass to the ground and just beat the fuck out of you for saying such stupid shit.
I swear, every day rich folk are becoming increasingly more unbelievable.
Rawdogg@lemm.ee 1 month ago
No way this snobby cunt has money, Succesful people dont spend their time trolling on lemmy lol Sounds more like a spoiled child
Aux@feddit.uk 1 month ago
Ahaha, ok.
Ilovethebomb@lemm.ee 1 month ago
ethnicity-facts-figures.service.gov.uk/…/latest/
That’s many times what the typical household income is, and most people would certainly consider that rich.
Aux@feddit.uk 1 month ago
But that’s not rich, lol.
And009@lemmynsfw.com 1 month ago
Depends who you ask
Aux@feddit.uk 1 month ago
Anyone you ask.
And009@lemmynsfw.com 1 month ago
Global indexes are scraping the ground against those numbers, I can tell you for sure they’re 1%.
Aux@feddit.uk 1 month ago
1% of what? Lol. Please don’t confuse high earning workers with the rich.
echodot@feddit.uk 1 month ago
Where the hell do you live that people regularly get more than that?
I would like your address and the times that you will not be in.
DragonTypeWyvern@midwest.social 1 month ago
Y’all should know Aux isn’t an actual person by now
WR5@lemmy.world 1 month ago
By what metric? Where would you define rich?
MrPoletki@feddit.uk 1 month ago
I’m not sure there is actually a proper definition of ‘rich’ that would allow you to accurately classify a group of incomes into rich and not rich.
But if you were to think of it in terms of the ‘feeling’ I’d say I’d feel rich if I never had to choose a cheaper option for anything at all, ever, could eat out and check into a hotel for the night any time I liked, all whilst currently putting away a handsome investment of some kind - but still have more disposable income than I could possible waste between income periods with nothing but my own debauchery (barring expensive drug habits).
That’s what I call rich, thing is, some people can achieve this on much less than others due to their tastes and circumstances. I’d feel rich if I worked 9-5 and took home upwards of £300k for sure. Others might not though.
WR5@lemmy.world 1 month ago
That’s all well and makes sense to me, but the person I was questioning stated that $350k+/year is not rich. All of those boxes you mentioned could be ticked way lower than that, and this is nearly 10x the median salary of the UK. That roughly means this family has the ability to spend 8x the median individual and still save/invest 2x their salary per year.
MrPoletki@feddit.uk 1 month ago
actually, while it doesn’t change the conclusion hardly, we have all forgotten that 395k wage is a combined income.
I mean these are still silly high wages… Having said that though, both the combined income, and that it’s very conceivable a good portion of that income is from capital gains, not work… they probably get more take home out of that 395k income than we’d expect too…
bollybing@lemmynsfw.com 1 month ago
I think most people would see that as ultra rich or super rich. To most people “rich” means having significantly more money than them. So given that the median salary in the UK is £37k, most people would probably say someone on £80k is rich, even though its pretty easy to earn that much and still want for more.
Aux@feddit.uk 1 month ago
The rich don’t work and don’t have income.
WR5@lemmy.world 1 month ago
What does this mean? By this metric, the wealthiest person in the world is not considered rich. Elon Musk both works and has an income.
Ilovethebomb@lemm.ee 1 month ago
Just FYI, I’ve tagged this guy as “kinda a dumbass” in the app I use.
I wouldn’t spend too much effort arguing with them.
Aux@feddit.uk 1 month ago
His wealth doesn’t come from his income. His salary doesn’t mean shit to him.
strongarm@lemmy.dbzer0.com 1 month ago
Don’t mean to get into the argument here, but the way that people like him have spending money is to take loans out against their investments, so they go into debt and don’t pay taxes on that. The banks don’t care because if they need to cover the debt they can just sell some of the shares.
Apocalypteroid@lemmy.world 1 month ago
Wtf are you talking about? You must be a billionaire.
This family earns more than the value of my house in a year.
If they carry on earning this and work for 30 years they will have amassed a fortune of £10m.
It also puts the family in the top 0.5% of earners in the country.
I think that makes them fairly rich.
Aux@feddit.uk 1 month ago
Do you understand that your logic doesn’t make any sense? First of all, half of their income goes into taxes. Second - they still need to spend money on bills, food, etc. So it will take them a lot more than 30 years to get to £10m. They won’t live as long.
You’re also confusing top earning workers with the rich.
Ilovethebomb@lemm.ee 1 month ago
Dude, just stop.
Apocalypteroid@lemmy.world 1 month ago
My logic? Even if the income figure is gross and not nett, they are part of the top 0.5% earners in the UK. So… Logically… They can be considered rich by the 99.5% of the population who earn less. They are almost certainly millionaires. Their kids go to public school. They take 5 holidays a year FFS, how many people do you know who can afford that? If you don’t consider that being rich then you are either richer than that, being a troll or deluded.