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Massachusetts passed a 4% millionaire's tax last year. Now every public school student is going to get free lunch
(www.businessinsider.com)
this post was submitted on 14 Aug 2023
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Yeah it's really hard to see that in the context of kids literally starving.
Regarding your question, it's a mix. I would say many if not most understand they are extremely successful and fortunate. The variance is how out of touch they are. Some are incredibly generous, while others are grumpy or miserable. Some actually want higher taxes, some are Scrooge types.
I once had an UHNW individual who consistently donated so much to charity that he exceeded deduction limits. I had to research ways to optimize his giving, which was refreshing.
Then there was a trust fund beneficiary worth at least $100 million, a really nice guy who lived modestly, bought the whole office lunch and dressed casually. Very down to earth. We were in the process of setting up a charity trust for him before I left that firm.
Other end of the spectrum, I had a paranoid and unstable client who repeatedly pushed us to do unethical and illegal things, making everyone uncomfortable. We fired him even though he was a ~100k/yr client for us. Easy decision.
All kinds really.