The Truth about Billionaires

a reply to: reachingnirvana

Like all topics, I think there is more to it.

For one, very few people have billions in cash. Typically their net worth is in the billions, largely due to stock holdings of companies they made. That's not to say they don't have access to money, but it still is a bit different. If someone creates a company that is immensely successful, it's still theirs.

Now, what I have a problem with is "public servants" using tax payer dollars to subsidize them, or policy to enrich them. The free market should decide how successful they are, not influence.

The other problem I have is the implicit competition to land these corporations in localities, giving them huge tax breaks almost down to zero. They literally do this by saying the jobs created will generate income tax. That's using labor to pay taxes while alleviating the corporation and investors.

The bitter jealousy is astounding.

Just get off your lead lined asses and get back to work !!!!

a reply to: reachingnirvana
The rich are a fact of existence, so are the poor. Taking from the rich and giving to the poor wouldn't correct the underlying fundamental principle not should it.

en.m.wikipedia.org...

Those that sit around and whine instead of working out a solution that will improve their personal situations proves the validity of the simple math statement. No amount of generosity or compassion can correct lack of ability or aptitude. The faces and the names of the players on all sides have changed thru time but the game is constant. The collectivist dream only exists to keep the herd thinned and relatively healthy. IMHO

a reply to: ancientlight

these billionaires feel they have a right to tell the rest of us what to do , or they actively become involved in IMO illegal activities for their own gain (& at the expense of all the rest of us).

Too much power, no transparency or accountability. Not a good combination.

Cheers

originally posted by: lowballer
Those that sit around and whine instead of working out a solution that will improve their personal situations proves the validity of the simple math statement.

The large majority of people that live in poverty do not whine about it, they just try to live with the conditions they found when they were born.

originally posted by: reachingnirvana
You have to be narrow minded to not be able to see how disturbing it is for one person or one family to have so much money, enough to feed the world and still have a huge amount left over.

I don't think a billionaire could feed the world for more than 1 meal...maybe.

Billionaires are worth $11.4 Trillion dollars.

Source: www.forbes.com...

If you took all their money and spread it around to the world's population, how much Cash $$$ would each of us get?

a reply to: carewemust

1461 dollars, if I'm not mistaken.

I wouldn't mind getting my share.

what if one guy ends up owning everything?
Is it still capitalism or he's a king?
Let's say he takes his dollars and buys every major asset and all the land in another country.
You may not pay him taxes but he owns all the banks and the central bank so everyone pays him interest. It's not right IMO. We have laws against monopoly for a reson, It took a lot of blood of our ancestors to end fkn monarchy and feudalism. To get the same in light blue. Families of overlords

originally posted by: ArMaP
a reply to: carewemust

1461 dollars, if I'm not mistaken.

I wouldn't mind getting my share.

Make mine an annuity. That would generate $11 per month..FOR LIFE!

a reply to: reachingnirvana
Aristotle invented the face palm with his advice to put trust in an inanimate object (more valuable?) instead of only cooperating with trustworthy trading partners...(tangible value)

Untrustworthy trading partners would have gone the way of the dodo bird. Yet, here we are.

a reply to: reachingnirvana

These numbers are quite astounding. Here is my perspective.

In 7th grade, I was flunking math. Our teacher offered ''extra projects'' to get our grades up to passing. I chose to demonstrate the size of the number one million. He had offered that as a joke kinda.

I sat down at a typewriter and began to type out one period after another. Realizing how long that would take, I tried typing colons which amounted to two dots per stroke. That was not enough either.

So I got five pieces of carbon paper and stacked my sheets of paper six at a time. This was way before computers by the way. So each time I hit the colon button twelve little dots showed up on my six sheets. MY finger would get sore and tired so I would change fingers and hands.

When I finished the project, which took me a couple of weeks, I presented it to the class. The teacher and I, the night before class took all of those sheets with their little dots on them and starting in the middle of the front wall of the room, tacked up each sheet across the wall. Then the side wall and then the back wall and up the other wall to the front wall again. They continued across the front wall down the side wall again and half way across the back wall.

And that was only to get to one million The room was not tall enough to have done this a thousand times which is what a billion is.

And oh, I ended up getting an A for the project which was enough to get me a c- in the class, enough to pass, but barely.

a reply to: TerryMcGuire thank you for your comment, that was my original point at how enormous these numbers really are, very interesting to hear about your project.

a reply to: ArMaP
Thank you for working that out because after some of these replies I did wander what that sum would be lol
But I never said the answer to end world hunger was to divide the money up equally, I meant it as an example that there is enough money in this world to solve all of the planets problems if invested properly. So for example making clean drinking water available to everyone instead of each billionaire owning their own private jet lol

a reply to: carewemust
Not one billionaire but the combined wealth of all billionaires would surely be enough to create more sustainably food sources for everyone, end climate etc and still have a lot left over

a reply to: lowballer
I dont know why a few of you have interpreted my post as wanting more money for myself and expecting billionaires to give everyone hand outs 🙄 I was just trying to make the point of how large an amount the combined wealth of the elite possess, and all the better things they could be doing with it

a reply to: reachingnirvana

It worked in China and Russia lol.

a reply to: xuenchen I dont know how you see my post or any of the comments to be perceived in a jealous way. Maybe that is your guilty conscience transpiring onto us, who just want a better world for everyone, including you.

a reply to: CriticalStinker
Very interesting point, thank you for your comment. I admit the way the economical world works is hard for the average person to understand.
We are purposely not educated about this in a mainstream way and that in itself should say all we need to know.

a reply to: ArMaP
Sorry I'm new to ATS and didnt know how to provide a source, I just googled the amount which obviously isnt the most trustworthy teacher, and must have read it wrong as 3.30 billion, 330 billion makes more sense but still not a impossible goal for the elites wealth to achieve.