Should Billionaires Exist?

[ThaRealness]

Since when has this site been so conservative?

No one needs a billion, and over half of the wealth is owned by the top 1%. That said, I don't like 1 billion as a hard wealth cap. More like 2 or 3

 

[ThaRealness]

this right here is the difference between rich and poor mindset

folk dont make millions OR billions based on the time they spend in business folk just assume everyone makes money the same way a W2 does

You dont realize how much money a billion dollars is. I dont care if its a different mindset. Steve Jobs inventing a better phone should not mean he has the money of a small African country

 

[Serious]

If poverty shouldn’t exist then Bullionaires shouldn’t

wasn't expecting this from you.

 

[dora_da_destroyer]

lol @ money isn't a natural part of the human species....you don't say

You dont realize how much money a billion dollars is. I dont care if its a different mindset. Steve Jobs inventing a better phone should not mean he has the money of a small African country

why shouldn't he? steve jobs had stock ownership in that company, if under his helm the imac, ipod, and iphone grew the company to 700BN dollars, seems quite reasonable that his net worth would also grow into the billions. or should we have some arbitrary cap that just says "your wealth growth stops here?"


i guarantee one of yall ever found a company that reaches 10BN+ in value wouldn't bat an eye that your 10-15% stake grosses you a $1BN+ net worth

 

[Professor Emeritus]

im not misreading anything

everyone in here seems to assume that standard of living is a right as opposed to a privilege of participating in a group economy

most people dont contribute to group economies at all outside of spending money from working.

The only way to get producer money (non-W2) is to become a producer in your group economy. Folks will do anything BUT create a product or service to actually participate

simply having a job does not make you a producer. Just a cog in someone elses production

You offered nothing to defend the status quo, you just described it. That bullshyt about "producers" could have been taken straight from Atlas Shrugged. The people doing the work ARE the producers, they have always existed in every economy whether or not there were billionaires making profits off of their backs.

Do you suggest that people making economic rents are "producers" as well? The greatest growth in wealth in the last few decades has come in the finance industry, whose portion of the economy has doubled in recent year, are those "producers" too?



The question is not whether billionaire earnings exist. We all know they do. The question is whether they should exist. You didn't offer anything for that at all.

 

[MMS]

if for one reason or another i had a lemonade stand that had a billion unique and repeat customers that paid me $2 per cup in one year

how much of that $2 billion isnt mine according to yall

 

[MMS]

You dont realize how much money a billion dollars is. I dont care if its a different mindset. Steve Jobs inventing a better phone should not mean he has the money of a small African country

i do understand what a billion is do you is the question?

do you think these folks just be sitting on piles of gold like

owning a business means owning an investment. Probably 95% of it is physical and intangible assets.

billionaires own investments that are worth more than a billion and their worth is their share in that investment.

If that is possible, any random ass dude can think of something to sell and make $1k per month on the side. Folks just cant let the real addiction go (Paychecks)

 

[Professor Emeritus]

You dont realize how much money a billion dollars is. I dont care if its a different mindset. Steve Jobs inventing a better phone should not mean he has the money of a small African country

And the degree to which Steve Jobs has ever even "invented a better phone" is debatable. Steve Jobs invented very little:

"According to Apple co-founder Steve Wozniak, "Steve [Jobs] didn't ever code. He wasn't an engineer and he didn't do any original design..."[238][239] Daniel Kottke, one of Apple's earliest employees and a college friend of Jobs', stated that "Between Woz and Jobs, Woz was the innovator, the inventor. Steve Jobs was the marketing person."[240]"

That's what Jobs became a billionaire for. Some asthetic design ideas and "marketing".

lol @ money isn't a natural part of the human species....you don't say

why shouldn't he? steve jobs had stock ownership.....

You're just describing the status quo, you're not defending it. Why should stock ownership determine who profits? Why don't other employees have stock ownership? And how many people (workers, colleagues, employees, competitors) did Jobs screw over to get where he did?

 

[MMS]

You offered nothing to defend the status quo, you just described it. That bullshyt about "producers" could have been taken straight from Atlas Shrugged. The people doing the work ARE the producers, they have always existed in every economy whether or not there were billionaires making profits off of their backs.

Do you suggest that people making economic rents are "producers" as well? The greatest growth in wealth in the last few decades has come in the finance industry, whose portion of the economy has doubled in recent year, are those "producers" too?



The question is not whether billionaire earnings exist. We all know they do. The question is whether they should exist. You didn't offer anything for that at all.

the people doing the "work" ARE NOT THE PRODUCERS

this is the greatest fallacy that yall got to get the fukk over. If im in NJ and i pump gas for Hess. The money that is exchanged from the driver wanting his tank filled up is not with me but with Hess. I get paid for the time i spend doing that job

It is a very distinct but obvious difference

 

[Professor Emeritus]

if for one reason or another i had a lemonade stand that had a billion unique and repeat customers that paid me $2 per cup in one year

how much of that $2 billion isnt mine according to yall

As you obviously have zero capacity to even hand out 3,000,000 cups of lemonade a day, much less make the lemonade, grow the trees, etc., your hypothetical lemonade stand is obviously impossible. Which is the point we're making.

Someone else, a LOT of someone elses, are doing the work to move 3 million cups of lemonade a day. You somehow want to decide that you deserve all their profits even though you haven't even defined which tiny minority of the work you happen to be doing yourself.


p.s. - how did you acquire the land to get enough lemons to sell 1 billion cups of lemonade? Why is it that you have the right to use up so much land when most of humanity has no land at all?

LOTS of unanswered questions in this hypothetical scenario.

 

[ThaRealness]

i do understand what a billion is do you is the question?

do you think these folks just be sitting on piles of gold like

owning a business means owning an investment. Probably 95% of it is physical and intangible assets.

billionaires own investments that are worth more than a billion and their worth is their share in that investment.

If that is possible, any random ass dude can think of something to sell and make $1k per month on the side. Folks just cant let the real addiction go (Paychecks)

Yeah and Im not a communist. I'm not saying CEOs shouldnt have a large slice of the pie. Im being very generous. I said a 2 or 3 billion dollar cut off. The wealth discrepency right now is a joke.

But I suppose if you start a company, there is no good way to limit your potential income. When its 50k, no one knows how much room for growth the company has.

 

[ThaRealness]

You offered nothing to defend the status quo, you just described it. That bullshyt about "producers" could have been taken straight from Atlas Shrugged. The people doing the work ARE the producers, they have always existed in every economy whether or not there were billionaires making profits off of their backs.

Do you suggest that people making economic rents are "producers" as well? The greatest growth in wealth in the last few decades has come in the finance industry, whose portion of the economy has doubled in recent year, are those "producers" too?



The question is not whether billionaire earnings exist. We all know they do. The question is whether they should exist. You didn't offer anything for that at all.

Facts. Dudes in here trying to glamorize capitalism. "Producers". Like Billionaires are all brilliant minds like Steve Jobs. I bet its some dudes close to a billion off of private prisons too. Are they producers?

 

[MMS]

Yeah and Im not a communist. I'm not saying CEOs shouldnt have a large slice of the pie. Im being very generous. I said a 2 or 3 billion dollar cut off. The wealth discrepency right now is a joke.

But I suppose if you start a company, there is no good way to limit your potential income. When its 50k, no one knows how much room for growth the company has.

think less of the title

in fact disregard work titles completely.

There are 4 main types of people:

Individuals - Salary/Hourly
Individuals - Contractors (Doctors, Lawyers, Plumbers etc)
Companies - LLCs, Partnerships etc (still considered persons)
Investors - Simply own shares of companies (considered persons)

There is no pie. Company gets money from investor, hires individuals and buys shyt to run the company. Revenue from sales gets broken down within the company to individuals and overhead. Profits go to Investors

rinse and repeat. If you are an individual your money is auto-capped based on the time you put in working aka you lose constantly.

Whereas the company and investor roles build things soley to sell to multiple customers (aka $$$ not tied to their time), thus they win exponentially (if the market likes the product)

This is not hard to put your head around. Anyone can become a company, just very few try and most that do always do it from the individual mindset.

 

[FluffyCorleone]

of course every non-billionaire will say no

 

[Silky Johnson]

Of course they should not. Tax em 100% on every dollar over $499,000,000 of total income including investments & assets. Maximum wage for any company should be capped at a multiple of 100x the lowest paid worker in said company.