Billionaires shouldn’t exist

[pento]

No one deserves that much money. Once you’ve got a billion dollars you’ve practically beaten the game of capitalism and the money should be shifted elsewhere to help infrastructure.

Inb4 I start seeing people defend billionaires, the vast majority of us won’t ever get to retire in our lifetimes. Wonder if we just need to “work harder”.

 

[Schwarzwald]

What's stopping them? Doesn't that imply some sort of inherent morality ?

 

[RadiantSun]

And they definitely should not be able to become a leader of a nation.

 

[Schwarzwald]

Both pfp are of women, both had women caliber takes... I'm seeing a pattern here.

 

[qqq]

 

[Schwarzwald]

Ah a man of culture!

 

[rentier]

No one deserves that much money. Once you’ve got a billion dollars you’ve practically beaten the game of capitalism and the money should be shifted elsewhere to help infrastructure.

Braindead take tbh, billionaries are billionaries by proxy. They hold stakes in their respective companies and not transferable money. These assets are nominally liquid in small quantities, but not one famous billionaire ever cashed out.

Ultra-rich people are rich in WOW gold and not in real money, they can't sell stuff and run away - see what happened to e.g. Oleg Tinkoff (owner of a major bank that was reduced to a millionaire).

So in effect you are proposing levying taxes on the industry, and if we look at CCP-ruled China, they have about twice lower taxes to GDP ratio than the US and consequently third that of EU countries.

The result of higher taxes in the West is as follows: US infrastructure is badly maintained and the idle class demands moar gold, EU can't scramble enough money for their war projects.

What amuses me is there are persons on this forum posting this homosexual Peter Zeihan's takes on China. He's been on the same page for over 10 years and China kept adding 5%+ in real economic growth every year. Percents compound, you know.

 

[wait whattt? :o]

Braindead take tbh, billionaries are billionaries by proxy. They hold stakes in their respective companies and not transferable money. These assets are nominally liquid in small quantities, but not one famous billionaire ever cashed out.

Ultra-rich people are rich in WOW gold and not in real money, they can't sell stuff and run away - see what happened to e.g. Oleg Tinkoff (owner of a major bank that was reduced to a millionaire).

So in effect you are proposing levying taxes on the industry, and if we look at CCP-ruled China, they have about twice lower taxes to GDP ratio than the US and consequently third that of EU countries.

The result of higher taxes in the West is as follows: US infrastructure is badly maintained and the idle class demands moar gold, EU can't scramble enough money for their war projects.

What amuses me is there are persons on this forum posting this homosexual Peter Zeihan's takes on China. He's been on the same page for over 10 years and China kept adding 5%+ in real economic growth every year. Percents compound, you know.

I think you're overestimating how "illiquid" billionaire wealth is. It’s true that most of it isn’t cash sitting in a bank account, but equity can still be sold gradually, transferred, or used as collateral and borrowed against which effectively provides purchasing power and economic leverage. For example, Elon Musk used Tesla shares as collateral when acquiring Twitter. So while it’s not the same as cash, it’s still very real economic power.

And I think that's essentially what Pento is getting at. The argument isn’t about literal piles of cash, but about the concentration of economic power and whether individuals should hold that much influence through accumulated assets.

 

[Schwarzwald]

I think you're overestimating how "illiquid" billionaire wealth is. It’s true that most of it isn’t cash sitting in a bank account, but equity can still be sold gradually, transferred, or used as collateral and borrowed against which effectively provides purchasing power and economic leverage. For example, Elon Musk used Tesla shares as collateral when acquiring Twitter. So while it’s not the same as cash, it’s still very real economic power.

And I think that's essentially what Pento is getting at. The argument isn’t about literal piles of cash, but about the concentration of economic power and whether individuals should hold that much influence through accumulated assets.

Damn bro pulled out the 'illiquid wealth' and 'collateral borrowing' combo meal
School teach!! Next you're gonna hit us with 'unearned income' and 'capital gains preference' like it's 101.
We get it, Elon can pawn stock for Twitter money. Still feels dystopian when one guy has that much pull, but whatever I'm not here to cry about it or defend it.

P.S. I miss the old-school rich who at least built libraries, museums, universities, and public shit that normal people could use. These new ones just launch rockets and buy islands while everything else rots. Kinda lame tbh.

 

[wait whattt? :o]

Damn bro pulled out the 'illiquid wealth' and 'collateral borrowing' combo meal
School teach!! Next you're gonna hit us with 'unearned income' and 'capital gains preference' like it's 101.
We get it, Elon can pawn stock for Twitter money. Still feels dystopian when one guy has that much pull, but whatever I'm not here to cry about it or defend it.

Dang, sarcasm hurts more than calling me plain stupid yk?

P.S. I miss the old-school rich who at least built libraries, museums, universities, and public shit that normal people could use. These new ones just launch rockets and buy islands while everything else rots. Kinda lame tbh.

On a real note though, I unironically agree with you lol
Sure, maybe the didn't do it with pure intentions and whatnot, but it ended up benefiting society regardless. Screw them new money fuckers tbh. We need old money back smh

 

[Suigin Trismegistus]

Agree on the illiquidity of billionaires. Their money actually already is at work in the world and benefiting society, tied up in stocks, which companies can leverage to grow, provide jobs and incomes to the unwashed.

 

[Kevin_Logan]

No one deserves that much money. Once you’ve got a billion dollars you’ve practically beaten the game of capitalism and the money should be shifted elsewhere to help infrastructure.

Inb4 I start seeing people defend billionaires, the vast majority of us won’t ever get to retire in our lifetimes. Wonder if we just need to “work harder”.

Yeah, you said that, but if you won billions of dollars, you would be euphoric

 

[pento]

Yeah, you said that, but if you won billions of dollars, you would be euphoric

For a year maybe

 

[Autistic_tendencies2]

billionaires don’t really exist.
They are plants to give people hope of the system.
Only the controllers of society are truly wealthy

 

[MelaninWarlord]

Money shouldn't even exist at all

 

[Schwarzwald]

For a year maybe

It would be the best year till I melt my face off with cocaine

 

[Schwarzwald]

Dang, sarcasm hurts more than calling me plain stupid yk?

On a real note though, I unironically agree with you lol
Sure, maybe the didn't do it with pure intentions and whatnot, but it ended up benefiting society regardless. Screw them new money fuckers tbh. We need old money back smh

Aw shucks I was just joshing didn't mean nothing by it...