The unacceptable face of capitalism

[DodgyAgent]

Ah - so it's not a moral requirement? Don't bleat about inequality if you are prepared to play the system to your advantage.

Contractors are definitely in the top 2% of earners, so not the richest - but the money we take home would seem rather a lot to the other 98%.

Some honesty at last from a contractor.

[BrilloPad]

Who cares about the middle classes? What are they going to do - boycott starbucks for a day?

Its the working class they should be worried about. And so far they have been bought off with TV footbal and cheap booze.

If the gap between rich and poor gets too wide then it *might* be a different story.

[DodgyAgent]

Who cares about the middle classes? What are they going to do - boycott starbucks for a day?

Its the working class they should be worried about. And so far they have been bought off with TV footbal and cheap booze.

If the gap between rich and poor gets too wide then it *might* be a different story.

The middle class are becoming the new working class

[KentPhilip]

Contractors are definitely in the top 2% of earners, so not the richest - but the money we take home would seem rather a lot to the other 98%.

What does the average contractor earn? £80K perhaps?
I very much doubt this is in the top 2%

[Zero Liability]

Who cares about the middle classes? What are they going to do - boycott starbucks for a day?

Its the working class they should be worried about. And so far they have been bought off with TV footbal and cheap booze.

If the gap between rich and poor gets too wide then it *might* be a different story.

I prefer worrying about the taxed/ruled classes in general, rather than any specific segment of them, e.g. rich, middle, 'working' etc., that is, anyone who isn't part of the establishment or one of its cronies.

[tractor]

...

Middle class is now a misnomer.

The class system is now poor, less poor, toorichtogiveatulip.

[Unix]

Ah - so it's not a moral requirement? Don't bleat about inequality if you are prepared to play the system to your advantage.

Contractors are definitely in the top 2% of earners, so not the richest - but the money we take home would seem rather a lot to the other 98%.

Play the system?, what are you talking about, setting up a Ltd company is perfectly valid way to operate as a contractor.

[BrilloPad]

Ah - so it's not a moral requirement? Don't bleat about inequality if you are prepared to play the system to your advantage.

Utter tosh. I will always work towards making things better for everyone. But I am not going to put myself down in the process.

[fullyautomatix]

Did you actually read the article?

Phones4U was bought by the private equity house, BC Partners, in 2011 for £200m. BC then borrowed £205m and, having saddled the company with vast amounts of debt, paid themselves a dividend of £223m. Crippled by debt, the company has now collapsed into administration.

So the bank which lent the £205M didnt do enough due diligence then. Everybody in this country borrows money. The employees at the bank work on commission basis and push through the most absurd of applications for money. The sub prime lending was sometimes lending 7 times salary. The only party at fault here is the bank which lent the cash.

[BrilloPad]

The middle class are becoming the new working class

Middle class is now a misnomer.

The class system is now poor, less poor, toorichtogiveatulip.

Good. Maybe we are entering a new golden age. Like Victorian times. UK ruled 2/3 of the globe. Most of its citizens lived in abject poverty.