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Message
True or False: In a world with no billionaires
Posted on 6/7/26 at 9:31 am
Posted on 6/7/26 at 9:31 am
We would all be poorer, not richer.
I mean, they are the ones supplying the jobs.
I mean, they are the ones supplying the jobs.
16
Posted on 6/7/26 at 9:40 am to AUveritas
False, there are a lot of hard working capitalist out here that aren’t billionaires hiring and firing in order to run their businesses.
It adds up.
Billionaires are important, sure; however, so are all the little guys working to be big guys.
It adds up.
Billionaires are important, sure; however, so are all the little guys working to be big guys.
Posted on 6/7/26 at 9:42 am to AUveritas
I would say false.
Small/main street bidness is the undisputed king of suppling jobs at least in the US.
Small/main street bidness is the undisputed king of suppling jobs at least in the US.
Posted on 6/7/26 at 9:43 am to AUveritas
Given their wealth comes from equity, yes. Market collapse is the only mechanism to eliminate billionaires and I think that is like taking a fatal dose of chemotherapy to prevent spread of cancer. We are the patient.
That said, I do worry about growing wealth inequality so higher taxes on gains and dividends for extremely high incomes and/or liquidity events would benefit society.
Also eliminate the outsized impact of political contributions that billionaires use to buy off politicians. The citizens united decision is one of the most consequential of our generation.
That said, I do worry about growing wealth inequality so higher taxes on gains and dividends for extremely high incomes and/or liquidity events would benefit society.
Also eliminate the outsized impact of political contributions that billionaires use to buy off politicians. The citizens united decision is one of the most consequential of our generation.
Posted on 6/7/26 at 9:45 am to AUveritas
False. Especially if we assume that it would increase the overall wealth of the classes below them. Hell if you just got rid of the ultra wealthy and increased the number of millionaires and billionaires with a single billon, that works be a net gain for the population. We need more businesses not less.
Posted on 6/7/26 at 9:49 am to AUveritas
quote:
I mean, they are the ones supplying the jobs.
That’s false… do you think the majority of Americans work for billionaires???… we would be richer not poorer… billionaires hoard money
Posted on 6/7/26 at 9:56 am to AUveritas
There should always be incentive to "get rich." Things only become problematic when monopolies start to influence the influential. Then, corruption takes off at breakneck speed.
There needs to be effective oversight to hold people to the same standards. That doesn't mean I'm anti-wealth. Just about keeping people honest.
There needs to be effective oversight to hold people to the same standards. That doesn't mean I'm anti-wealth. Just about keeping people honest.
Posted on 6/7/26 at 10:01 am to lepdagod
quote:
That’s false… do you think the majority of Americans work for billionaires???
A simple majority? No. But they supply about 1/3 of U.S. jobs.
Posted on 6/7/26 at 10:03 am to AUveritas
We would be much worse off. Because the laws (and authoritarian regimes making, promulgating, and enforcing them) that would prevent billionaires would also necessarily create abject poverty.
Eta: this question is just another way of asking if there’s an ideal way to do socialism or other command economies.
Eta: this question is just another way of asking if there’s an ideal way to do socialism or other command economies.
This post was edited on 6/7/26 at 10:05 am
Posted on 6/7/26 at 10:06 am to AUveritas
quote:
billionaires
As much as I see people on this site:
1. Talking about fiat currency
2. Purporting to be experts on economics
I hope that we can acknowledge that the term billionaires is largely irrelevant. Perhaps the better question should be what percentage of the total GDP did these people have control over?
Posted on 6/7/26 at 10:32 am to SnacknGold06
quote:
That said, I do worry about growing wealth inequality so higher taxes on gains and dividends for extremely high incomes and/or liquidity events would benefit society.
The system is creating the wealth, the wealth is driving politics, the politicians are in it for the money and the bs they are feeding people is driving the jealousy to create the money grab. How about we clean up the government corruption and spending first before we reload it with wealth taxes. Once you start making laws to take people’s money, they will adjust and move it or move themselves.
The US has the 6th to 9th highest capital gains and dividend tax rates in the industrialized world.
Elon musk is spending his money on innovation and investing in future technology. You think taking his money is going to benefit you in any way?
Posted on 6/7/26 at 10:35 am to AUveritas
A billionaire’s job is to separate the worker from the means of production in any way they can. They give zero fricks about creating jobs for the working man.
Posted on 6/7/26 at 10:40 am to AUveritas
The masses made millionaires and billionaires by voting with their dollars.
If a product is deemed valuable by the public they say so by purchasing it. Thusly the public builds and affirms value to those who provide what the public deems valuable.
If a product is deemed valuable by the public they say so by purchasing it. Thusly the public builds and affirms value to those who provide what the public deems valuable.
Posted on 6/7/26 at 10:42 am to AUveritas
The problem is these billionaires could literally put their money in a savings account drawing 1% and they wouldn’t spend it as fast as interest compounds. At some point they are a vacuum of cash that gets sucked out of the economy.
Posted on 6/7/26 at 10:54 am to rltiger
quote:
The US has the 6th to 9th highest capital gains and dividend tax rates in the industrialized world.
All I’m advocating for is a progressive tax on realized capital gains at the federal level. Not talking about ratcheting taxes on grandmas dividends from the local IOU. Those dollars are practically a rounding error.
Do you think the growing chasm of wealth disparity is healthy long term? I think it will increase animosity and chaos if the majority of people feel left behind. We can reform government and curtail wealth disparity at the same time.
At least during the gilded age, the industrialists in our country gave back by building libraries, etc through philanthropy. Now the billionaires of our day have bought out the politicians and eschew even the performative investments that the Carnegies did. All while they’re actively promoting the benefits of AI, which at least in the short term threatens the employment of the upper middle and middle class workers.
I think our current trajectory will end in a bad place unless the average person thinks he or she can get ahead too. I would never advocate for the elimination of billionaires because like I mentioned, that would effectively crash the equity markets and raise the cost of capital. It’s stupid economics but to say we can’t form a better fiscal policy to address the elephant in the room is equally stupid.
Posted on 6/7/26 at 11:19 am to SnacknGold06
quote:
Do you think the growing chasm of wealth disparity is healthy long term?
How do you define wealth disparity? It is an extremely slippery slope.
A 30 y/o person on government assistance/disability who doesn’t work thinks 100,000 a year is wealthy.
A blue collar guy thinks anyone with 2x’s more disposable income than they have is wealthy.
A white collar guy trying to keep up with the Joneses, struggling to put kids through private school, pay ins, car and house notes, vacations etc., thinks a guy with 5,000,000 net worth is wealthy.
Apparently 99% of the us makes below $800,000.00.
And the top 1% net worth is @12 million.
If you let mob rule dictate what you can have and keep you quickly go from targeting billionaires to millionaires, to straight up socialism/communism quickly.
Posted on 6/7/26 at 11:25 am to rltiger
Context…..
If you mean in today’s situation then most of the country would be poor or worse.
If you mean in today’s situation then most of the country would be poor or worse.
Posted on 6/7/26 at 11:36 am to AUveritas
You'd look like cuba. No innovating.
Posted on 6/7/26 at 11:38 am to SnacknGold06
quote:
Do you think the growing chasm of wealth disparity is healthy long term? I think it will increase animosity and chaos if the majority of people feel left behind. We can reform government and curtail wealth disparity at the same time.
Importing people to keep wages low doesn't help. But instead of focusing on the root if problems. You want to just take money from people.
Posted on 6/7/26 at 11:39 am to FATBOY TIGER
Anyone who doesn't know this shouldn't be allowed to vote.
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