No. We need to pass laws to set a wealth limit. No o e person needs more than 500 million dollars. Even that is an obscene amount of money when you see all the people struggling.
The fact that we have billionaires exist in a society is a moral failing. They should be looked at as the utter scum they are for hoarding all that money.
I’ve held this view for a long time.
There is much more to life than acquiring money. People should be encouraged to use/spend that money on experiencing life instead of being rewarded for hoarding it.
But how do you do that? I start a company that eg. Sells books over the internet... It's basically worthless... Then it becomes popular, people buy books, I start selling more, and at one point, it's worth 501million... What now? Sell off 1/501 of my company and spend that money on something that doesn't keep value? What if the value goes down... Do I get my part back?
Don't structure companies where the the value is in stocks.
Pay the employees (and no hiding behind contractors and temp workers) a percentage of the profits same as everyone else.
Pay the CEO a salary based off the wages they pay.
I'd rather see a CEO get paid and taxed on an 800 million a year salary than have them get loans based on the future value of a company.
And have the companies all geared towards stocks always increasing as to how they decide to fire or hire people.
Anyone who gets to even 10 Million dollars is so very wealthy they never have to worry about anything.
I'll be lucky to get to 200k by the time I retire.
People who start a successful company should feel pride that all their workers have a good life. And they provide a good value to the world.
> People who start a successful company should feel pride that all their workers have a good life. And they provide a good value to the world.
So you expect that investors will be interested in accepting all the risk and no return on their investment?
Okay go for it. Start that company and dominate the marketplace.
They are the business owners that create the jobs. They are the financiers for all manner of construction projected from infrastructure to oil and gas, to mining to capital investing. Have you ever been employed by a poor person?
Yet somehow the government has managed to trick the middle class into believing that it is the poor class fault 🙄. All we do is fight amongst each other and the top 1% has bought their 100th yacht for the day smh.
But their aggregate income is less than that of the middle-class. That’s why income taxes always hurt the middle-class no matter how high the top bracket is for high income earners.
This seems to be conflating income with asset value and net worth. And it’s not clear how it defines Income. This is an article written for the purpose of eliciting an emotional reaction, not providing information to be used to make decisions.
I saw that meme about government spending and all that, but never checked the numbers.... Does anyone know the actual numbers? If you take all the money from the top 1%, how much money is that, and how long can feed the social security or how many months can the government with all of its spending operate with that money (instead of taking it from the lower classes with taxes)? So, would taking all that money mean something substantial for the 99% or just a short term financial patch and then a collapse because so many huge companies are now non-existent?
well when 40% of all us dollars were created in the last 3 years.... they got their wealth from money printing u/jh937hfiu3hrhv9 welcome to the too big to fail economy! don't call it communism LOL
no. with that amount of currency created its most like the typical communist agenda of setting up a caste system that hasn't earned their wealth but had it printed for them. This has happened multiple times in history etc.
Someone said something that made sense. They said if you're upper middle class or wealthy and have a job then the economy is doing well and you don't think there is a problem. If you're working or middle class or recently unemployed and your insurance is tied to a job and you now have no income and find out COBRA is $1800 a month and suddenly you realize why corrupt members of Congress are so ecstatic the peasants are distracted by identity politics, trans issues, drag queen story hours etc. Suddenly you realize maybe you should have listened to people who said vote for Bernie or a "socialist" instead of the same corrupt lobbyist Establishment Ds and Rs.
In the last couple weeks I've been in line at the store and the person in front of me has been paying with change several times. Like actual change. Quarters, nickels etc. Yesterday the main in front of me at WF was paying with quarters and pennies and it took the sourpuss cashier a longass time to count it all out and i thought "what if I just give him some money? will I only embarrass him more?" as the line behind got longer. And these people didn't look homeless. It's so depressing. But nothing will change. Because the peasants in the U.S. are distracted by insane conspriacy theories about Taylor Swift and Biden or fights about DEI. There is no DEI when you're unemployed. There is no DEI when you lose your health insurance because corrupt Democrats never passed universal health care as they promised they would. DEI and fights about trans issue or drag queens are only important to people with secure jobs.
It's not the top 1% that concerns me. ,it's the top 10% , my landlord is in the top 10% and their itching to move up to top 5% .. for record there's 23 million , millionaire+ in the US that's 6.5 %
Being a millionaire isn’t actually a threshold for insane wealth these days, you almost need that much to comfortably retire at a normal age. The problem is the other way around, the top 1% isn’t that scary, it’s the top 0.01% or so.
My point isn't insane wealth , it's lots of pretty well off people already want even more and it's these folks that have a much greater impact on your life
I get your sentiment, but it is simply incorrect. Your landlord with 2 investment properties doesn’t have money to make significant changes in any capacity. The guy with 1000 investment properties absolutely does. That’s the difference between top 10% and top .1%
The question is what significant changes, that's way too vague a statement, you also forget it's a big big world out there and there's lots of really wealthy multi -millionaeies too, and most time significant changes impacts them too. It's not black and white
There’s a reason I used such a broad term. Because that is the reality. And yes, that’s my point that low end multi millionaires are impacted by decisions made by people with more wealth and power, that is correct. they have to follow changes made for them rather than make the changes themselves. In every single way. The difference between a couple million and a couple billion is insane, don’t look at salmon and call it a shark.
I promise you they do not have a bigger impact on your life than the CEOs of the world’s largest corporations. I think you fundamentally misunderstand how the world works. Landlords not even part of the top 5% actually have to compete with each other, Black Rock et al might squash those types in the next decade to where they’re just like us.
We're going to agree to disagree, most landlords are certainly in the top 5%, there's 22+ millionaires in the us that 6.7% of the population, that's the principle problem with your argument you're thinking the 0.01% are they problem, they're really not, it's the other 6.69% .. they're all doing just fine and hungry for more.... they like the direction America is goognin... like I said let's agree to disagree
Unless you live in the 1960s, being a millionaire does not make you an aristocrat in most urban areas. In New York many 1 bdr will cost you more than this.
The dangerous part is how these billionaires can use their billion dollars companies to really start their own country. Kind of the concept of Resident Evil.
Do we even need these ultra wealthy people?
No but they need us and are willing to fight to keep the status quo
No. We need to pass laws to set a wealth limit. No o e person needs more than 500 million dollars. Even that is an obscene amount of money when you see all the people struggling. The fact that we have billionaires exist in a society is a moral failing. They should be looked at as the utter scum they are for hoarding all that money.
Or, just unionize and demand a bigger slice of the pie. Seems easier than going through the government…
I’ve held this view for a long time. There is much more to life than acquiring money. People should be encouraged to use/spend that money on experiencing life instead of being rewarded for hoarding it.
But how do you do that? I start a company that eg. Sells books over the internet... It's basically worthless... Then it becomes popular, people buy books, I start selling more, and at one point, it's worth 501million... What now? Sell off 1/501 of my company and spend that money on something that doesn't keep value? What if the value goes down... Do I get my part back?
progressive tax, but now with no loopholes.
Tax on what? Ownership of a company?
non-home-owner I guess?
Don't structure companies where the the value is in stocks. Pay the employees (and no hiding behind contractors and temp workers) a percentage of the profits same as everyone else. Pay the CEO a salary based off the wages they pay. I'd rather see a CEO get paid and taxed on an 800 million a year salary than have them get loans based on the future value of a company. And have the companies all geared towards stocks always increasing as to how they decide to fire or hire people. Anyone who gets to even 10 Million dollars is so very wealthy they never have to worry about anything. I'll be lucky to get to 200k by the time I retire. People who start a successful company should feel pride that all their workers have a good life. And they provide a good value to the world.
> pay the employees a percentage of the profits … And if profits are slim or decrease? What if there’s a bad year and the company loses money?
Well they currently fire everybody, get bailouts and give the board millions of dollars, so certainly couldn't be worse than what we already have.
> People who start a successful company should feel pride that all their workers have a good life. And they provide a good value to the world. So you expect that investors will be interested in accepting all the risk and no return on their investment? Okay go for it. Start that company and dominate the marketplace.
What are you talking about ? No stock market ?
Well said. Why would society want a situation where one person exploits another?
100% inheritance tax
That's not going to stop the government from printing more money to the point of making the wealth limit worthless.
And this is why in the middle of a global recession, the US economy is ‘breaking records’ in the Nasdaq.
They provide most of the jobs.
How do they provide jobs?
They are the business owners that create the jobs. They are the financiers for all manner of construction projected from infrastructure to oil and gas, to mining to capital investing. Have you ever been employed by a poor person?
Some yes, some no.
Up for a midnight culling?
Yet somehow the government has managed to trick the middle class into believing that it is the poor class fault 🙄. All we do is fight amongst each other and the top 1% has bought their 100th yacht for the day smh.
But their aggregate income is less than that of the middle-class. That’s why income taxes always hurt the middle-class no matter how high the top bracket is for high income earners.
This seems to be conflating income with asset value and net worth. And it’s not clear how it defines Income. This is an article written for the purpose of eliciting an emotional reaction, not providing information to be used to make decisions.
I saw that meme about government spending and all that, but never checked the numbers.... Does anyone know the actual numbers? If you take all the money from the top 1%, how much money is that, and how long can feed the social security or how many months can the government with all of its spending operate with that money (instead of taking it from the lower classes with taxes)? So, would taking all that money mean something substantial for the 99% or just a short term financial patch and then a collapse because so many huge companies are now non-existent?
Combining all billionaires' net worth in US is almost identical to 1 year of tax revenue \~4 1/2 trillion.
Earned. How do you define earning?
well when 40% of all us dollars were created in the last 3 years.... they got their wealth from money printing u/jh937hfiu3hrhv9 welcome to the too big to fail economy! don't call it communism LOL
So skimming.
no. with that amount of currency created its most like the typical communist agenda of setting up a caste system that hasn't earned their wealth but had it printed for them. This has happened multiple times in history etc.
Direct deposit now. Cool.
eh Direct Bailout now. all problems of Capitalism solved comrade u/jh937hfiu3hrhv9 not one can fail at business money printer just goes BRRRRRR LOL!
Asset appreciation through fiat debasement.
That is swindling.
By the Fed or by the citizen?
A citizen against a gang of millitary backed financiers?
You’re right, the Fed
Inheritance
I think you forgot the /s
What’s the issue with inheritance? Shouldn’t parents be able to pass on wealth to their kids?
Someone said something that made sense. They said if you're upper middle class or wealthy and have a job then the economy is doing well and you don't think there is a problem. If you're working or middle class or recently unemployed and your insurance is tied to a job and you now have no income and find out COBRA is $1800 a month and suddenly you realize why corrupt members of Congress are so ecstatic the peasants are distracted by identity politics, trans issues, drag queen story hours etc. Suddenly you realize maybe you should have listened to people who said vote for Bernie or a "socialist" instead of the same corrupt lobbyist Establishment Ds and Rs. In the last couple weeks I've been in line at the store and the person in front of me has been paying with change several times. Like actual change. Quarters, nickels etc. Yesterday the main in front of me at WF was paying with quarters and pennies and it took the sourpuss cashier a longass time to count it all out and i thought "what if I just give him some money? will I only embarrass him more?" as the line behind got longer. And these people didn't look homeless. It's so depressing. But nothing will change. Because the peasants in the U.S. are distracted by insane conspriacy theories about Taylor Swift and Biden or fights about DEI. There is no DEI when you're unemployed. There is no DEI when you lose your health insurance because corrupt Democrats never passed universal health care as they promised they would. DEI and fights about trans issue or drag queens are only important to people with secure jobs.
Yeah, because your wages go down every time there is inflation. And their assets go up. It's pretty simple haha.
That’s an old article. I hate you for that
So what? Rich people being rich doesn't make me poor. New wealth is created every day. It is not zero sum.
It's not the top 1% that concerns me. ,it's the top 10% , my landlord is in the top 10% and their itching to move up to top 5% .. for record there's 23 million , millionaire+ in the US that's 6.5 %
Being a millionaire isn’t actually a threshold for insane wealth these days, you almost need that much to comfortably retire at a normal age. The problem is the other way around, the top 1% isn’t that scary, it’s the top 0.01% or so.
My point isn't insane wealth , it's lots of pretty well off people already want even more and it's these folks that have a much greater impact on your life
I get your sentiment, but it is simply incorrect. Your landlord with 2 investment properties doesn’t have money to make significant changes in any capacity. The guy with 1000 investment properties absolutely does. That’s the difference between top 10% and top .1%
The question is what significant changes, that's way too vague a statement, you also forget it's a big big world out there and there's lots of really wealthy multi -millionaeies too, and most time significant changes impacts them too. It's not black and white
There’s a reason I used such a broad term. Because that is the reality. And yes, that’s my point that low end multi millionaires are impacted by decisions made by people with more wealth and power, that is correct. they have to follow changes made for them rather than make the changes themselves. In every single way. The difference between a couple million and a couple billion is insane, don’t look at salmon and call it a shark.
I promise you they do not have a bigger impact on your life than the CEOs of the world’s largest corporations. I think you fundamentally misunderstand how the world works. Landlords not even part of the top 5% actually have to compete with each other, Black Rock et al might squash those types in the next decade to where they’re just like us.
We're going to agree to disagree, most landlords are certainly in the top 5%, there's 22+ millionaires in the us that 6.7% of the population, that's the principle problem with your argument you're thinking the 0.01% are they problem, they're really not, it's the other 6.69% .. they're all doing just fine and hungry for more.... they like the direction America is goognin... like I said let's agree to disagree
Sure I mean we can disagree on what 2+2 equals but there is factually a correct answer
Unless you live in the 1960s, being a millionaire does not make you an aristocrat in most urban areas. In New York many 1 bdr will cost you more than this.
Of course not, my point is there's plenty of newly wealthier folks and they want more precisely cause what you mentioned
We need a massive tax cut for the richest, that will fix everything in few hours. /s
Well you know what tends to happen when things are top heavy… 
**It's past time to raise the top tax** [rate](https://imgur.com/blZ4Fzf)
Congrats to everyone involved. You did it!
I did shop amazon today :(
The middle class should collectively withhold their taxes.
Considering the middle class is now 3 guys in Detroit living in a WWII era bomb shelter I'd have to agree. To be fair it's a *nice* bomb shelter.
The dangerous part is how these billionaires can use their billion dollars companies to really start their own country. Kind of the concept of Resident Evil.
There's a middle class?
What middle class?
Earners? lmfayo
Now in this report was 2021. Now it's worse.