Are Billionaires mentally ill / evil?

[CarolinaHawkeye]

eloon musk is definitely mentally ill and evil. His #1 fanboy is just a moron and most likely has to rely on his mother to supply him with candy.

 

[Ree4]

Do you have the ability to increase your wealth? It's not a zero sum game. Why do you care how much someone else has?

Yep, thanks. I do just fine. Unlike many of you folks around here, I care about others and not just myself. I have the foresight to realize that a polarized society leads to instability, as we are obviously experiencing now. Thanks for inquiring though!

 

[ping72]

is the bolded part really true? if so, heck i am okay (and i suspect most americans would be) with our government writing a check for 40B at taxpayer expense. we waste billions on the worst things, might as well tack on 40B for a great cause.

We can rather easily feed and provide healthcare for everyone in this counter.

So…why do we not??

 

[desihawk]

We can rather easily feed and provide healthcare for everyone in this counter.

So…why do we not??

i agree and it’s sad and i don’t have an answer though imo forcible redistribution will be massively counterproductive.
also i could be wrong but i don’t think food is the significant problem in America as it is in other parts of the world, healthcare is the real mind boggling area where we seem to almost prefer crippling defeat to glorious victory.

 

[tumorboy]

Do think some folks fall into the trap of being isolated by wealth. Start to think they’ll gods. And that there opinions on any subject makes them an expert.

 

[Hawk_4shur]

How the Ultrawealthy Use Private Foundations to Bank Millions in Tax Deductions While Giving the Public Little in Return

It’s a simple bargain: The rich get huge tax breaks by donating art, property and company shares to benefit the public. But some donors collect millions while offering little or no public access.

www.propublica.org

I'm honored to be your 20,000th post.

Ah yes. Tax frauds. Like the guy in my example.

The IRS should slam-dunk 'em.

Allowing someone to put a piece of art or a house in a private foundation so the public can "look at it" is definitely a loophole.

 

[TC Nole OX]

 

[TC Nole OX]

 

[TC Nole OX]

 

[TC Nole OX]

Gary Stevenson of Gary’s Economics on YouTube explains it very clearly in this 51 second video. Unfortunately, similar voices in this country are few and far between.

 

[SI_NYC]

In my business career I have met 5 billionaires - all in technology. For the most part I found dealing with them to be the same as other business folks. In my dealings they were ethical.

tl;dr I am good with them having the wealth they earned. But after they pass I think it should be taxed at a MUCH higher rate. I have a real issue with inheritance and generational wealth accumulation - these go against the fundamental principles of capitalism.

——

As to the morality of having so much wealth - this is really a question on the morality of capitalism. First let me say I believe capitalism is the best of a suboptimal series of choices for how to maximize human endeavors. The majority of people are intrinsically motivated by the rewards of “winning” and we are inherently selfish. It also is the “fairest” method for rewarding those who work hard and those who have unique talents. Capitalism maximizes those - which accelerates human progress better than any other economic system.

Is it moral to take a dollar more than you need when your fellow man goes hungry? I suppose it is less moral than giving away that dollar, but it also isn’t immoral IMO to be rewarded for your contributions and it isn’t immoral to recognize that human progress is important to the survival of the species. Virtually everyone on HBOT, me included, does so. I am a capitalist because I believe it is the only system that is workable - however flawed it may be.

So is there a dollar amount where it becomes “so immoral” that we should condemn it? I think any $ cutoff is arbitrary and capricious. If we say it is fine to have a second vacation home, what about a third? What about the extra money to take the family on vacation? It is too hard IMO to find that line. Plus it acts as a disincentive on human progress and could rightfully be viewed as unfair when others don’t work as hard or aren’t as talented.

Instead, I would focus on what happens to that money on inheritance. If we want to truly honor the ideals that hard work+ talent gets more reward then why do we allow for trust fund kids? If the US wasn’t massively in debt with people in economic insecurity I wouldn't care, but we are. And yet there are trillions in wealth held by a handful of people. Once they pass on I think a much larger percentage of that wealth should be taxed. The dead don’t need it and their descendants did not earn it.

I personally have been lucky to earn enough wealth that my future grandkids would be able to live a full life without lifting a finger - and that is wrong, they did nothing for it. That’s why I’m good with my fellow citizens taking much of it when I pass.

In other words a wealth tax is, IMO, the best mechanism for honoring the principles of capitalism while also fixing our fiscal challenges.

I don’t necessarily disagree with your perspective, but if you feel strongly about inheritance tax, there's always the option to voluntarily contribute more or redirect wealth as you see fit. I’m sure the government would welcome the support.

 

[THE_DEVIL]

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