just curious so I can think about them too. Get instant access to lessons taught by experienced private equity pros and bulge bracket If I had the power to, I'd restructure most of the government organizations - get rid of a lot of them and reduce the sizes of others except those tied to national security and preventive medicine. They want to understand why they can't do things that successful people can. It pays its warehouse workers slightly above minimum wage, gives them medical benefits, overtime pay, 50% 401K match. Close. they are created from ownership and equity growing, investments growing, etc. When a person looks up to Bezos and views him as a role model, he or she is vilified and called a bootlicker despite being inspired to accumulate wealth legally and improve society. Billionaires are more afraid of death than anyone else. It's taking money from one pocket to the other. Billionaires are evil. I think most people just do not understand what they do, and resort to hatred. Black folks have recognized that the system won't change to accommodate them, that there is no way to gain equality through traditional means (voting, etc) which are being denied them anyway - so they take to the streets. Buffett, Gates and Zuck are all, let's face it, pretty harmless nerds who just want to play bridge and go about their homegrown empires without these clowns nitpicking at their every move to gather evidence of their evildoing. I would be pro-labor organization because it balances the bargaining power and is fair, but to have 0 clue about the stress and risk in business and ambiguity over LITERALLY every decision? But I'm for low corporate tax. chances of becoming homeless: one in 200, just a reality check to all the prospects that jerk off to dreams about being a billionaire and go to great lengths to defend them. But lots of concerns are legitimate. "I don't begrudge anybody making a million or hundreds of millions of dollars. Stupidity doesn't discriminate left or right. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). A century later, leaders of the second Gilded Age are equally resistant to higher taxes, arguing that chief executives are better suited to solve America’s problems than politicians. Heck, Obama wanted to reduce corporate tax. The average bleeding lib Bernie Bro villainizing billionaires pretty much just does not want to be held accountable for his or her string of poor decisions, from studying pottery in college to moving to NYC for an $80k (I'm being generous) job to scrounging up every last dime to backpack through flea-infested hostels instead of, you know, saving to ultimately finding themselves underemployed past the age of 30. In a country that boats the largest... 3. and "it is to the benefit of the rentier class to make sure that labor has a stake in maintaining the current system" are two points I always try to make and people dont get it. Billions and trillions are available for any industrial or agricultural concern that posts a month of losses, but we can't pay to give housing and care for the homeless? Wealth is not a factor. Kind of like how Facebook doesn't collect data on us. Social security is a blunder. Personal responsibility probably goes a long way for any of the "issues" you might raise- those who make poor decisions are left with more difficult decisions down the line. If I have to work 3 jobs, 16 hours a day 7 days a week, just to survive, knowing I am one broken leg away from absolute penury, then why in the fucking world should I have any interest in maintaining the status quo? And no one can say shit because wow that would prove that the "haves" lack any fucking empathy and will take any opportunity to oppress the already disadvantaged "have nots". there are very few if any billionaires from purely labor. or Want to Unlock by signing in with your social account? The Koch Brothers are extremely wealthy and... 14 Bashar al-Assad - Chemical Weapons. He created the most valuable company in the world and gets my protein powder to my doorstep in a day. It doesn't control e-commerce. Eike Batista. “You know what the biggest threat to America is?” thundered former White House staffer Sebastian Gorka. I know one billionaire … 5 billionaires who are making life miserable for ordinary Americans Nothing like using your immense fortune to stick it to the little guy In real life, there's the elite of the elite, the billionaires. As a new user, you get over 200 WSO Credits free, What’s fair? Bill Gates, whose father was the leader of Planned Parenthood, believes in vaccines, regardless of what side effects may occur. Even if he wanted to sell all his Amazon shares and end world hunger, with an estimated cost of $250bn/year his fortune of approx. Borderline sociopaths who will brand themselves as "the champions of the downtrodden" will do just about anything to gain power. Podcast: Play in new window | Download Subscribe: Apple Podcasts | Android | Google Podcasts | Stitcher | RSS Drink of the day: Orange wine and Modelo Especial! He became the rich guy who says he’s fighting for the forgotten man while enriching himself. Would you date a girl without a college degree? And so the question of the moment — actually, of the 2020 election cycle — is this: Are billionaires contributing their fair share? Wealth is not a factor. Here, in America, he’s having a hard time making the case for billionaires. I don't support UBI, but I support negative income tax (I disagree with Mankiw that UBI and negative income tax have the same impacts because negative income tax encourages employment). Remember, most dictators started out as populists who everyone loved but turned out to be self-justifying egomaniacs. That sucks, sure, but people prefer the alternative way more. The primary benefits went to those who were already rich. Facts, evidence, and basic logic don't matter to some folks. Crossposted by 11 months ago. the difference is billionaires are not created from labor. Maybe managers / middle management would make sense. That’s why Warren Buffett (worth an estimated $82 billion) famously says he pays a lower tax rate on his investment income than his secretary pays on her salary (earned income). Property rights are not a human right - we are all animal that coexist - why should swathes of society accept a miserable existence to drive the wasteful lives of the few? "don't say bad things about rapists guys everybody is different", Agree. The outrage bubbled up in 2011, when Occupy Wall Street took over New York City’s Zuccotti Park and camped out in other cities around the country. Pinterest . There are many reasons for the country’s tragic collapse, but the only word that matters at the moment is “socialism.”, “Republicans and these plutocrats just love Venezuela,” says Giridharadas. All for collective bargaining but people need to face the risk too- a first taste of entrepreneurship and negotiation is to risk their jobs and livelihoods to get a bit bigger piece of the pie. The 2008 recession challenged that narrative: An estimated 7 to 10 million Americans lost their homes; 8 million lost their jobs, and the average household lost a third of its net worth. Trump promised to restore their jobs and their dignity using his skills as a successful businessman and negotiator, says Giridharadas. Like most things in the world, they just are. And the parties get real epic real fast. discretionary vs in-discretionary spending to be fair. White nationalism and the political movement that represents it had far greater representation in it's day, and today, than do self-professed socialists. Who designed that BS? We discuss on this episode. Of course Billionaires are not inherently "evil.". Individuals are good or bad because of their personality, behavior, and belief systems. America's ability to discourage inspiration and encourage mediocrity is alarming. They can buy everything including the govt. Elon Musk, who made a statement on the subject, said that Maezawa paid him “too much money”. If the government set very well-defined, simple, and fair rule in the first place, there wouldn't be room for private enterprises to gain influence through extensive lobbying. In order to critique a system, one must understand said system. Bigotry on all sides is spreading like wildfire. Market will reward you for the revenue beat and share prices will go up as long as rates remain low, Step5. 100% agree. The only entity that can create money out of thin air, and truly affect societal change, is the Federal Reserve/govt. He announced that he plans to spend $100 million during the 2014 midterms through his NextGen Climate Action PAC. don't think we need to go around teaching anyone about it either society don't owe em shit! See you on the other side! No, money doesn't make people evil, using money to do evil does. So why not let Jeff keep his shares? Big banks got bailouts; homeowners didn’t. no one on reddit can seem to wrap their head around the fact that Bezos' wealth is tied to his ownership in Amazon. But Howard — can we call you Howard? Counting Jeff Bezos’s fortune using 1 grain of rice = $100,000. Ever.”. Everyone on this forum better pray that bezos doesn't wake up one morning and decide to conquer investment banking, I'd rather live in a society where you have 10,000 people running small businesses making 100k a year than 1guy making 1b and hiring people for $12/h, even if it's slightly less efficient and gdp is .01% less. Sure, you'll pay 10% more in taxes, or your capital gains get taxed at a higher rate, or fuck it, your net worth over (xx millions of dollars) gets taxed - that shit is what keeps your head out of a guillotine. Weirdly, the people who caused those long-term damages have been dead for a while. If I died today it wouldn’t matter to me at all. I think Jeff is a good dude. Billionaires aren’t inherently evil, but this doesn’t seem okay to me • Posted by 11 months ago. When you run Syria, you're a bad dude. Agree with this line of thinking for sure, although in a perfect world maybe the bottom 50% of the population would own 5% of the market so they could benefit too. While eating another plate of nachos, Lol what is up with the ad hominem attacks - try again but instead of attacking people, try arguing the issue at hand, And if I claim to be a wise man, it surely means that I don't know". “Wow, what a great question!” said Dell, shifting in his seat. Mark Zuckerberg (worth estimated at $62 billion) and his fellow billionaires point to their personal philanthropy, which is all well and good but not a substitute to paying into a federal system for public schools, infrastructure, courts, military and public health. It's not momey that will go towards workers. Finally then, we can have fiscal surplus. He will not pay income taxes on the majority of those earnings, thanks to tax laws, deferments and other loopholes. But — and you’ll be shocked, shocked — the richest Americans have not been enthusiastic about her proposal. Jeff Bezos and Elon Musk claim they work 100 hour weeks and that’s why they are billionaires. Tax law needs to be simplified, straightforward, and ironclad. Can be summoned to make fun of liberals at will. Win-win.”. let alone the money in corporations or Bezos' bank account. However, for entertainment purposes and to voice emotions that many people aren't comfortable doing all these people do a great job. The average American family can barely afford to send kids to any college, much less bribe their way into an elite university. "It's okay, I'll see you on the other side". The jets become private. Social security/Medicare make up 70%. Everyone's different. Everyone has a right to survival - we are ultimately animals and owe nothing to each other. It’s fair to say no one likes paying taxes. They exist and are popular for a reason, and it's immature to judge one if not the other. In 2017, the median household income was $61,858. “The top 0.1 percent of Americans own almost as much wealth as the bottom 90 percent, and the 400 richest Americans own more wealth than all black households and a quarter of Latino households combined,” she says. Play. In a place like the US, with an intricate and functioning democracy, it's unlikely to happen so these "sociopaths" play the political game. Billionaires are not evil. 1) many have signed the giving pledge and have solved problems no government ever will eradicating disease 2) they continue to invest and create transformative innovations or fund them more intelligently than the government can 3) the fuck is a one time payment of 5,000-10,000 to people really going to do that is worth ruining every single Americans ability to the right to their own property. 3 reasons why I think people vilify the "rich". All Rights Reserved. Nothing wrong with being a liberal or being a conservative, as long as you don't believe in bigotry, respect other people's beliefs, and can have constructive and thoughtful conversation with people who hold different views. “I don’t think it really makes a big difference to someone in a steel plant whether Bill Gates is worth $10 billion or $20 billion,” says financial writer Roger Lowenstein. How the rich are ignorant of this is beyond belief. Two weeks ago, Buffett told CNBC’s “Squawk Box” that “the wealthy are definitely undertaxed relative to the general population” but fundamentally, he doesn’t want to change economic policies that worked so well for so many years: “I don’t want to do anything to the goose that lays the golden eggs.”, Former New York mayor Michael Bloomberg (worth an estimated $55 billion) was more blunt about Warren’s proposed tax, saying it “probably is unconstitutional.”, “We need a healthy economy and we shouldn’t be ashamed of our system,” he said during a January visit to New Hampshire. There was a story (on the WSJ I believe) about this recently. Of course, it is obvious that this type of trip will be the most expensive trip ever. I'd argue that this is because the government enables the corporations to do so. 1) It's incredibly easy to pick a small group of people and blame everything on them. This started another round of billionaire-bashing on Reddit, which mostly consists of folks repeating points about how billionaires are evil and should be taxed out of existence via wealth taxes. It’s all a charade. This is a 4th grade level of unprompted social analysis though. Adelson is the CEO of the Las Vegas Sands corporation. these people don't have an understanding of risk/reward and make characterizations about what 'should' happen and how much people 'should' be rewarded. Their only purpose in life is accrue money and more money and more money. The Bernie and Warren voters would run from the polls in November 2020 if Bloomberg won the nomination and I would venture to say that the Democrat Party would fall into a tailspin the likes of which no one has ever seen. It is hard to go to some Sanders rally without the word evil billionaire being thrown out. “You don’t like that?” he asked the crowd. But IDK about unionizing hourly employees at McDonalds who are "supposed" to be high school kids and temporary jobs pretty much- factory/warehousing/etc. It's pure greed and ignorance - plain and simple. 315. So they deliberately abuse them to gain power. Ross, a self-proclaimed billionaire and buddy of President Trump, suggested furloughed workers take out short-term loans instead. I’d be dead. Billionaires are the epitome of success. So, naturally the resentment shifts towards the "rich". so you can reward or punish any content you deem worthy right away. Batista was once worth $30 billion. The billionaire explained he felt “much more comfortable” donating millions through his private foundation “than giving them to the government. That sentiment — billionaires are smart and know how to work the system, the rest of us are chumps — has sparked a new grass-roots movement for the rich to pay more.

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