Poll of the Day > Should billionaires exist?

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Blighboy
11/11/19 10:13:56 PM
#1:


Yes/No - Results (21 votes)
Yes
47.62% (10 votes)
10
No
52.38% (11 votes)
11
Go
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Caroniver
11/11/19 10:14:35 PM
#2:


Having a billion dollars means you could spend 10 million dollars a day and live off of interest for like 70+ years.
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Mead
11/11/19 10:19:44 PM
#3:


My first reaction is to say no, but if not for billionaires we really wouldnt have a lot of the space faring technology thats being funded and researched right now

So its kind of complicated
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hypnox
11/11/19 10:25:29 PM
#4:


Fun fact. If you made 2k an hour for a normal 40 hour work week and saved every bit and had no taxes, and started when baby jesus was born(for those of you that believe that) you would have about 8.3 bil and STILL have many richer than you.
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OniRonin
11/11/19 10:26:53 PM
#5:


illionaire are like assholes. everybody has one and they all stink

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BeerOnTap
11/11/19 10:47:44 PM
#6:


More important question: how is it any of your f*****g business how much money someone else has?

Billionaires generated their wealth by creating industry, companies, jobs, and opportunities for (usually) thousands, if not millions, of other people.
And people dont realize that these billions exist in stocks, companies, and other assets. Its not like they have a huge Scrooge McDuck pool of money that they swim around in.
And they did so through consensual transactions. If you dont like Jeff Bezos, you can terminate your relationship with him. Cancel your Prime membership or your Washington Post subscription.
Meanwhile, all of this (https://www.usdebtclock.org/) money that government has squandered was taken by force. Give us your money or well throw you into a cage. Try terminating your relationship with them and see how well that goes.

To all the folks here who look so fondly at government intervention, socialism, and kleptocracy, I think you should take a moment and explain to everyone precisely why and how a government who is over 22 trillion in debt should be empowered to steal large swaths of money from individuals who create enormous amounts of prosperity with their money.

Looking upon someone elses wealth covetously with the idea that they dont deserve it, or with the assumption they just had to have earned it through illegitimate channels, is unhealthy, un-American, and makes you a bad person.
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SunWuKung420
11/11/19 10:51:19 PM
#7:


No. The accumulation of wealth is a blight on society.

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Mead
11/11/19 10:56:56 PM
#8:


BeerOnTap posted...
Billionaires generated their wealth by creating industry, companies, jobs, and opportunities for (usually) thousands, if not millions, of other people.


Thats the rare exception. Most billionaires generate their fortunes through hedge funds, capital gains, and real estate.
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KaptainKiro
11/11/19 10:57:12 PM
#9:


Why shouldn't they?
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Shadowbird_RH
11/11/19 10:57:23 PM
#10:


They should have the freedom to exist, but ideally, should also have the charity to not retain so much excess wealth.
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Zeus
11/11/19 11:00:03 PM
#11:


This topic is really asking, "Should private enterprise exist?", because as long as you have private enterprise, you're going to eventually wind up with billionaires. And nobody should be surprised that Bligh wants state-run everything.

Caroniver posted...
Having a billion dollars means you could spend 10 million dollars a day and live off of interest for like 70+ years.


The problem with that assessment is that most of the richest men have those billions in net worth rather than cash. Jeff Bezos is he richest man in the world with an estimated $111b net worth. The value of his shares in Amazon? $108b. Even if he tried to liquidate his holdings, first that would tank share prices and second there'd be potential implications for the company.

And he paid $250m for WaPo, where some of his other money is tied up, among other places.

BeerOnTap posted...
And people dont realize that these billions exist in stocks, companies, and other assets. Its not like they have a huge Scrooge McDuck pool of money that they swim around in.
And they did so through consensual transactions. If you dont like Jeff Bezos, you can terminate your relationship with him. Cancel your Prime membership or your Washington Post subscription.


Well, basically this.
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CaptainStrong
11/11/19 11:04:04 PM
#12:


Fuck no. A billion dollars is insane. No one needs that much money. Rather than rich assholes hoarding it, it should be taxed and put towards shit that benefits normal people like healthcare, education, and infrastructure. You could end homelessness with that money.

Also I love how people who aren't a billionaire and never will be a billionaire (or even a millionaire) defend them. You're defending your enemy. You're defending people why buy the government to fuck you in the ass.
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KaptainKiro
11/11/19 11:06:30 PM
#13:


CaptainStrong posted...
Also I love how people who aren't a billionaire and never will be a billionaire (or even a millionaire) defend them.


Using "you aren't [x] so why are you defending [x]?" is dogshit logic for obvious reasons.
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CaptainStrong
11/11/19 11:09:54 PM
#14:


KaptainKiro posted...
CaptainStrong posted...
Also I love how people who aren't a billionaire and never will be a billionaire (or even a millionaire) defend them.


Using "you aren't [x] so why are you defending [x]?" is dogshit logic for obvious reasons.

What harm is gonna come from taxing these rich motherfuckers?
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Locke90
11/11/19 11:10:21 PM
#15:


BeerOnTap posted...
More important question: how is it any of your f*****g business how much money someone else has?

Billionaires generated their wealth by creating industry, companies, jobs, and opportunities for (usually) thousands, if not millions, of other people.
And people dont realize that these billions exist in stocks, companies, and other assets. Its not like they have a huge Scrooge McDuck pool of money that they swim around in.
And they did so through consensual transactions. If you dont like Jeff Bezos, you can terminate your relationship with him. Cancel your Prime membership or your Washington Post subscription.
Meanwhile, all of this (https://www.usdebtclock.org/) money that government has squandered was taken by force. Give us your money or well throw you into a cage. Try terminating your relationship with them and see how well that goes.

To all the folks here who look so fondly at government intervention, socialism, and kleptocracy, I think you should take a moment and explain to everyone precisely why and how a government who is over 22 trillion in debt should be empowered to steal large swaths of money from individuals who create enormous amounts of prosperity with their money.

Looking upon someone elses wealth covetously with the idea that they dont deserve it, or with the assumption they just had to have earned it through illegitimate channels, is unhealthy, un-American, and makes you a bad person.

self made yes but when you have the children of billionaires flashing mummy/daddies money around like they earned it like their parents did thats where I draw the line.
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KaptainKiro
11/11/19 11:27:37 PM
#16:


CaptainStrong posted...
What harm is gonna come from taxing these rich motherfuckers?


They won't let you. Their assets will be far out of reach before you get anywhere close to them. Also, people having their stuff stolen is harmful to them. Just because you are jealous and they have spare resources doesn't mean it's not harmful.

You didn't address my point though. Not being a member of a group doesn't mean it's stupid to defend members of said group.
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KaptainKiro
11/11/19 11:28:28 PM
#17:


Locke90 posted...
self made yes but when you have the children of billionaires flashing mummy/daddies money around like they earned it like their parents did thats where I draw the line.


Yeah it's pretty fucking stupid that people can have good parents that leave them resources, we absolutely must put an end to that.
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CaptainStrong
11/11/19 11:31:46 PM
#18:


KaptainKiro posted...
CaptainStrong posted...
What harm is gonna come from taxing these rich motherfuckers?


They won't let you. Their assets will be far out of reach before you get anywhere close to them. Also, people having their stuff stolen is harmful to them. Just because you are jealous and they have spare resources doesn't mean it's not harmful.

You didn't address my point though. Not being a member of a group doesn't mean it's stupid to defend members of said group.

If they are your enemy and are fucking you over, yeah it absolutely is stupid to defend them.
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SusanGreenEyes
11/11/19 11:37:31 PM
#19:


I'm wondering how many people who feel like they should be allowed to determine how much money other people should be allowed to accumulate are currently holding jobs.


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Blaqthourne
11/12/19 12:21:26 AM
#20:


https://www.forbes.com/sites/willyakowicz/2019/03/09/how-the-worlds-billionaires-got-so-rich/
"top 10 industries in which billionaires made their fortunes.

Top 10 Industries for 2019:
1. Finance & Investments
306 billionaires
14% of the list

2. Fashion & Retail
230 billionaires
11% of the list

3. Real Estate
223 billionaires
10% of the list

4. Technology
214 billionaires
10% of the list

5. Manufacturing
188 billionaires
9% of the list

6. Diversified
188 billionaires
9% of the list

7. Food & Beverage
171 billionaires
8% of the list

8. Healthcare
135 billionaires
6% of the list

9. Energy
85 billionaires
4% of the list

10. Media & Entertainment
71 billionaires
3% of the list"
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Krazy_Kirby
11/12/19 12:30:14 AM
#21:


only idiots think socialisn/communism is a good idea
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RoboXgp89
11/12/19 12:52:02 AM
#22:


Krazy_Kirby posted...
only idiots think socialisn/communism is a good idea


ok but then you have public school board people making like half a mil every year and then getting a 100k salary when they retire

is THAT fair?

if the most they want to pay us is 7.25, why should someone make 50x that?
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Krazy_Kirby
11/12/19 1:01:29 AM
#23:


life isn't fair
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Unbridled9
11/12/19 1:06:25 AM
#24:


I'm a billionaire! Not in usd... but I have a billion dollars!
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Lokarin
11/12/19 2:46:38 AM
#25:


The problem with billionaires is they don't spend their money.

Money is meant to be exchanged for goods and services - artificially withholding it in useless assets does no one any good.
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KaptainKiro
11/12/19 3:28:04 AM
#26:


RoboXgp89 posted...
if the most they want to pay us is 7.25


Are you implying most people aren't making more than that?

CaptainStrong posted...
If they are your enemy and are fucking you over, yeah it absolutely is stupid to defend them.


They're not my enemy though.
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zebatov
11/12/19 3:38:04 AM
#27:


No. The amount of money one has should be capped. Anything made over that cap should go into a pool that people who make less than a certain amount have access to via a program. It should help alleviate stress on the government and afford certain people food and shelter.
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CaptainStrong
11/12/19 3:38:48 AM
#28:


KaptainKiro posted...
RoboXgp89 posted...
if the most they want to pay us is 7.25


Are you implying most people aren't making more than that?

CaptainStrong posted...
If they are your enemy and are fucking you over, yeah it absolutely is stupid to defend them.


They're not my enemy though.

They use their obscene wealth to pay the government to do things that benefit them and fuck you over. How are they not your enemy?
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KaptainKiro
11/12/19 3:39:09 AM
#29:


zebatov posted...
No. The amount of money one has should be capped.


Lmao literally impossible
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Mead
11/12/19 3:41:38 AM
#30:


KaptainKiro posted...
zebatov posted...
No. The amount of money one has should be capped.


Lmao literally impossible


Thats literally how it used to be in the US

There was a time that the tax rate after a million dollars was 100%
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zebatov
11/12/19 3:45:42 AM
#31:


Mead posted...
KaptainKiro posted...
zebatov posted...
No. The amount of money one has should be capped.


Lmao literally impossible


Thats literally how it used to be in the US

There was a time that the tax rate after a million dollars was 100%

Way better system and would benefit the local economy. Can absolutely be done if lobbying wasnt a thing for the people with all that money.

I read somewhere that the tax rate for everybody at one point was one percent and it worked really well.
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RoboXgp89
11/12/19 4:02:32 AM
#32:


yeah 1776

when the allies freed luxumborg banks from nazi germany they realized they only had 1% interest rates and they leaved them be
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Kyuubi4269
11/12/19 4:08:02 AM
#33:


Billionaires in personal capital - no.
Billionaires in net worth due to having a very successful business - yes.

Nobody has any use for that kind of money, but if it's just sitting in a business being productive, I can't complain.
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Kyuubi4269
11/12/19 4:11:57 AM
#34:


zebatov posted...
Way better system and would benefit the local economy.

Not at all. If you set a maximum income, people will just earn less. If you capped out at 95%, you'd still have people with such crazy earning potential that they're still substantially richer than their contemporaries so still have a reason to keep working harder.
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Blaqthourne
11/12/19 4:18:12 AM
#35:


Mead posted...
KaptainKiro posted...
zebatov posted...
No. The amount of money one has should be capped.


Lmao literally impossible


Thats literally how it used to be in the US

There was a time that the tax rate after a million dollars was 100%

What time was that? The highest rate I could find was 94% in 1944 & 1945.
https://cdn.theatlantic.com/assets/media/img/posts/2019/01/TaxRatesClean/74bc73eea.png
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KaptainKiro
11/12/19 4:40:14 AM
#36:


Blaqthourne posted...
What time was that? The highest rate I could find was 94% in 1944 & 1945.


It didn't happen and even the highest tax rates weren't ever actually paid. It's completely unenforceable without giving the government totalitarian control. It would be even more unenforceable today.
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zebatov
11/12/19 4:43:37 AM
#37:


Kyuubi4269 posted...
zebatov posted...
Way better system and would benefit the local economy.

Not at all. If you set a maximum income, people will just earn less. If you capped out at 95%, you'd still have people with such crazy earning potential that they're still substantially richer than their contemporaries so still have a reason to keep working harder.

Then you would have written (make the writing so) legislation which forces billionaires to not pay people less because they cant buy an extra island this year.

Imagine defending the slave-driver whilst being whipped by him.
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Krazy_Kirby
11/12/19 4:45:50 AM
#38:


and then they move their money out of the country, move their companies out of the country, and move somewhere else.
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zebatov
11/12/19 4:48:13 AM
#39:


Krazy_Kirby posted...
and then they move their money out of the country, move their companies out of the country, and move somewhere else.

Imagine the PR of moving because you dont want to forfeit a few extra million to take care of the people who make it possible for you to be rich.
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KaptainKiro
11/12/19 4:54:39 AM
#40:


zebatov posted...
Imagine the PR of moving because you dont want to forfeit a few extra million to take care of the people who make it possible for you to be rich.


Shouldn't there currently be negative PR for this very reason?
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Kyuubi4269
11/12/19 4:58:42 AM
#41:


zebatov posted...
Then you would have written (make the writing so) legislation which forces billionaires to not pay people less because they cant buy an extra island this year.

You'll want to rewrite this as "not paying people less" is a good thing, and capping their earning potential means people will just run a small business in to the ground to make the earnings cap and make very little product rather than expanding globally to make enough profit to pay for an island should they wish it.
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Doctor Foxx posted...
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Kyuubi4269
11/12/19 5:00:36 AM
#42:


Krazy_Kirby posted...
and then they move their money out of the country, move their companies out of the country, and move somewhere else.

If all decent places to exist agree to a set tax rate and refuse to deal with countries that operate outside the taxation group, the companies can no longer operate globally and profitably.
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Doctor Foxx posted...
The demonizing of soy has a lot to do with xenophobic ideas.
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KaptainKiro
11/12/19 5:03:07 AM
#43:


Kyuubi4269 posted...
If all decent places to exist agree to a set tax rate and refuse to deal with countries that operate outside the taxation group, the companies can no longer operate globally and profitably.


And if we discover magic, we can just magic things into existence and nobody will be poor!
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zebatov
11/12/19 5:07:00 AM
#44:


KaptainKiro posted...
zebatov posted...
Imagine the PR of moving because you dont want to forfeit a few extra million to take care of the people who make it possible for you to be rich.


Shouldn't there currently be negative PR for this very reason?

There is. Thats what Im currently doing. But youd have to not be a supporter of capitalism to see that I guess.
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wolfy42
11/12/19 5:09:21 AM
#45:


The worst part of that list is how many are billionares because of healthcare :(

They pretty much are directly responsible for killing my wife.
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Kyuubi4269
11/12/19 5:12:15 AM
#46:


KaptainKiro posted...
Kyuubi4269 posted...
If all decent places to exist agree to a set tax rate and refuse to deal with countries that operate outside the taxation group, the companies can no longer operate globally and profitably.


And if we discover magic, we can just magic things into existence and nobody will be poor!

You're acting like governments don't want google tax money.

If the US and EU made an "international trade tax" that equally split the income between eachother rather than based on which country the company is based, they'd have an incentive to uphold the rule.
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Krazy_Kirby
11/12/19 5:18:26 AM
#47:


zebatov posted...
KaptainKiro posted...
zebatov posted...
Imagine the PR of moving because you dont want to forfeit a few extra million to take care of the people who make it possible for you to be rich.


Shouldn't there currently be negative PR for this very reason?

There is. Thats what Im currently doing. But youd have to not be a supporter of capitalism to see that I guess.


a cap on how much you can earn is absolutely not supporting capitalism.
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Locke90
11/12/19 5:18:54 AM
#48:


KaptainKiro posted...
Locke90 posted...
self made yes but when you have the children of billionaires flashing mummy/daddies money around like they earned it like their parents did thats where I draw the line.


Yeah it's pretty fucking stupid that people can have good parents that leave them resources, we absolutely must put an end to that.

thats not what i said.
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Lokarin
11/12/19 6:50:00 AM
#49:


Krazy_Kirby posted...
a cap on how much you can earn is absolutely not supporting capitalism.


As I said before - capitalism is the enemy, not consumerism. Billionaires who just accrue capital and assets without ever spending it are cheating the system. The spice must flow.
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DDirtyDastard
11/12/19 8:36:10 AM
#50:


Most people can't even wrap their head around how much a billion dollars actually is. Those people live in a different reality than the rest of the world, even the multi-millionaires are little bitches to them.

Say I have a net worth of 10 billion and you have a net worth of 1 million. That'd be like me having a $1,000 dollars and you having a dime.

And no, I'm not giving you a dollar, you can fuck right off.
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