Voices: ‘Shame is a waste of time’: Readers on why extreme wealth doesn’t have to be a source of guilt

1. Money

Our community argued that being wealthy isn’t inherently wrong, but guilt and accountability matter when wealth is hoarded or used irresponsibly

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Helen Coffey’s deep dive into the concept of “wealth shame” has sparked lively debate among Independent readers, who shared everything from pride in earned fortunes to frustration over extreme inequality.

Many highlighted the positive potential of wealth when put to good use. Charitable giving, funding public projects like housing or clean water, and supporting global initiatives were praised as ways for the wealthy to make a tangible difference.

Meanwhile, some readers emphasised that honestly earned money, or wealth built over generations, shouldn’t be a source of guilt.

At the same time, there was frustration over extreme inequality and tax avoidance. Several commenters criticised billionaires who exploit loopholes to avoid paying their fair share, arguing that hoarding wealth while benefiting from public services only deepens societal divides.

Accountability emerged as a key theme, with readers arguing that feeling guilty about inequality can be powerful if it motivates action, but shame for its own sake achieves nothing.

Overall, readers agreed that being rich isn’t wrong in itself – what matters is how that wealth is used, and whether it contributes to a fairer society.

Here’s what you had to say:

Philanthropy can be a force for good

Interesting that the Gates Foundation hasn’t been mentioned as it has probably done more to eradicate disease than any government organisation.

It actually actively avoids channeling funds via governments because doing so is incredibly ineffective. Bottom line: well-directed philanthropy can be a force for good.

One irony is that it is likely that wealth inequality will reduce under the current government, but mainly because some of the richest are leaving.

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Langley

Fair share of tax is key

No problem with honestly earned wealth by those who pay their fair share of tax. Major issues with the likes of Musk, Bezos, etc., who don’t pay a penny of tax; instead of earning a salary, they take out loans against their assets. Since the value of their assets is worth vastly more and increasing than the loan, they never have to pay anything back but parasitically use the services and infrastructure paid for by everyone else’s taxes (roads, water, electricity, trains, airports, etc., etc., etc.).

Everyone knows this, but no one takes action because they bankroll the very ones supposed to take action. An absolute blight on humanity.

Mikael

Taxing wealth over £10m is a no-brainer

Taxing wealth over £10m at 2 per cent is a no-brainer. With that amount of money, you should easily be able to increase it by more than 2 per cent per year, so you are still getting richer while paying your share. That’s the biggest issue – not people earning millions, but those millions earning more millions, whilst the rich do nothing. Sitting in investments, accumulating more, rather than re-entering the economy, is what is driving inequality.

DanielJensen

No shame in inherited wealth

I think most of this ‘wealth shame’ is performative. I am wealthy, not billionaire wealthy, but I don't need to think about money and neither will my children. My wealth is inherited, coming down through the family estates we owned in East Africa and investments in Rhodesia and South Africa, and then after the ’80s and ’90s these investments were moved to the States and put into tech.

This money was gained through cumulative efforts of generations of my family, not living for today, but working to provide for the future of our family… just as I am doing today. There is nothing to be ashamed of.

saghia

Donations may reduce tax burden

I'd prefer it if celebs celebrating their loud donations could publicly state that under US tax law, the entire $amount is deductible when they donate. I'd love to think that donations are made out of complete selflessness, but I suspect quite a lot of rich people, artists included, use the system to reduce their tax burden.

Moo100

Put wealth to good use

Why would you need to be ashamed? Just put it to good use. Start a charity… give it to charity… build housing/clean water projects… a million things that you could do. Shame is a waste of time!

scud10000

Being rich doesn’t feel wrong

Being rich doesn’t feel wrong at all. Anyone who actually earned their money, which is the vast majority of rich people, are proud of their achievements. Anyone who feels bad about being better than others is pathetic.

Marcus

Extreme wealth inequality is corrosive

Extreme wealth inequality is corrosive to society (plenty of historical examples). Company boards should be more circumspect about doling out the dosh to the bosses, and taxation should otherwise prevent immense riches.

Poulter

Some of the comments have been edited for this article for brevity and clarity.

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