Opinion on billionaires.

Stan27 · 27-08-2020 06:51PM #1

Musk worth 100B
Bezos worth 200B.

Fair play to them, but prob should pay more taxes.
Global Inequality is a big problem.

What are your opinions?

Ubbquittious · 27-08-2020 06:56PM

They might be worth 100bn but they don't have 100bn to their disposal. The cost of 1 share in their company at the present time multiplied by how many of them they own is how they come up with these figures.

If Bezos started selling shares like mad people would get suspicious fast and the share price would plummet as a result

elperello · 27-08-2020 07:00PM

Global inequality is indeed a problem but focusing on a few billionaires doesn't even begin to address it.

mick087 · 27-08-2020 07:01PM

It be good if they was to share this fortune with the people who make them there fortune there staff.

Trigger Happy · 27-08-2020 07:01PM

I have yet to meet one I did not like.

27-08-2020 07:01PM

every billionaire represents a failure of policy

27-08-2020 07:02PM

elperello wrote: »

Global inequality is indeed a problem but focusing on a few billionaires doesn't even begin to address it.

i mean

the figures are clear.

it really would.

Quantum Erasure · 27-08-2020 07:04PM

Trigger Happy wrote: »

I have yet to meet one I did not like.

Same...

I have also yet to meet one I liked

IAMAMORON · 27-08-2020 07:06PM

They work hard, most of the really rich ones are obsessive about getting shít done.

Good luck to them.

I would rather be born rich and enjoy it than have to work for it. Those dudes don't unwind, when Musk finished college he worked 7 days a week. He lived (literally) in his office with his brother. They are workaholics.

4068ac1elhodqr · 27-08-2020 07:18PM

Not much to say, other than they should be paying real, proper taxes, and have a moral duty not to abuse tax efficency schemes including inheritance tax evasion using trust funds.

- The world’s 2,153 billionaires have more wealth than the 4,600,000,000 people who make up 60% of the planet’s population.
- The 22 richest men in the world have more wealth than all the women in Africa (600m, set to double by 2050).
- Getting the richest 1% to pay just 0.5 percent extra tax on their wealth over the next 10 years would equal the investment needed to create 117 million jobs in sectors such as elderly and childcare, education and health.

If they don't pay more, and when the robots take all the jobs, no doubt they'll likely have a social rebellion on their hands, with the globe heading for 10bn folks.

Seamai · 27-08-2020 07:19PM

I've never been on but I know I'd be just darling at it.

joe40 · 27-08-2020 07:24PM

Brittany Large Bartender wrote: »

Not much to say, other than they should be paying real, proper taxes, and have a moral duty not to abuse tax efficency schemes including inheritance tax evasion using trust funds.

- The world’s 2,153 billionaires have more wealth than the 4,600,000,000 people who make up 60% of the planet’s population.
- The 22 richest men in the world have more wealth than all the women in Africa (600m, set to double by 2050).
- Getting the richest 1% to pay just 0.5 percent extra tax on their wealth over the next 10 years would equal the investment needed to create 117 million jobs in sectors such as elderly and childcare, education and health.

If they don't pay more, and when the robots take all the jobs, no doubt they'll likely have a social rebellion on their hands, with the globe heading for 10bn folks.

That level of wealth in individual ownership is obscene. I have no problem with people becoming wealthy by hard work, good luck or combination of both.
But wealth in billions is simply not good for a society.

27-08-2020 07:27PM

The idea of a hard limit or whatever doesn't sit right but a system that results in such inequalities is inherently broken. How to fix it is a problem that I haven't seen a solution for however.

OneEightSeven · 27-08-2020 07:30PM

My opinion is that you should learn the difference between owning 100bn in company shares and 100bn in cash.

https://www.forbes.com/sites/noahkirsch/2019/12/04/why-elon-musk-is-cash-poor-for-a-billionaire/#521cc7f033f6

EmmetSpiceland · 27-08-2020 07:33PM

IAMAMORON wrote: »

They work hard, most of the really rich ones are obsessive about getting shít done.

Good luck to them.

I would rather be born rich and enjoy it than have to work for it. Those dudes don't unwind, when Musk finished college he worked 7 days a week. He lived (literally) in his office with his brother. They are workaholics.

And sociopaths.

Zebra3 · 27-08-2020 07:34PM

Amazon workers are so underpaid, many are on food stamps.

So Bezos's wealth is being subsidised by the US taxpayer.

Not as "hard working" as some claim he is.

McGinniesta · 27-08-2020 07:38PM

Nice bit of an aul billionaire

IAMAMORON · 27-08-2020 07:44PM

EmmetSpiceland wrote: »

And sociopaths.

Humans have been farmed since time began.

I mean he was bullied bad at school, total geek. Got out of S Africa hit Canada and never looked back. Who didn't want to be a spaceman as a child?

We all know people like him, usually quite awkward but they will have nice traits also and appreciate having fun ( sometimes ). I reckon he won't start bottling his urine for another few years.

Irishphotodesk · 27-08-2020 07:45PM

Like most bosses, they profit on the workers beneath them, similar to a Ponzi scheme (with work being the investment)

Galwayguy35 · 27-08-2020 08:05PM

mick087 wrote: »

It be good if they was to share this fortune with the people who make them there fortune there staff.

The staff get a salary for their work don't they?

Gretas Gonna Get Ya! · 27-08-2020 08:07PM

It's a competition to see who can die with the most stuff.

I know plenty of very wealthy people. You would be surprised how many of them seem to envy the lives of certain average everyday people. The biggest thing that always shocks me, is how bored many of them seem to be. Having vast amounts of wealth can make you very isolated from others.

secman · 27-08-2020 08:10PM

I'd love one to be honest , just can't afford one

Spanish Eyes · 27-08-2020 08:12PM

I often wonder what all that money means to them. I mean there is only so much you need to spend on food, homes, and family.

Well I suppose I am an outlier here, but could never understand the desire to be a bulti billionnaire. Maybe it gives them influence on Gov or something.

Taxation is only a very small part of it. Power to influence things I suppose.

27-08-2020 08:17PM

Brittany Large Bartender wrote:

Not much to say, other than they should be paying real, proper taxes, and have a moral duty not to abuse tax efficency schemes including inheritance tax evasion using trust funds.

They have likely paid more in tax than most individuals already. And considering the manner of their lifestyles, they pay quite a bit of tax on all that luxury living.

joe40 wrote: »

That level of wealth in individual ownership is obscene. I have no problem with people becoming wealthy by hard work, good luck or combination of both.
But wealth in billions is simply not good for a society.

Except, that they're not part of our society. They've got their own society that they involve themselves with. The rich generally lead extremely different lives than the rest of us, and their existence has very little bearing (except perhaps as employers) on the society we live in.

Cyrus · 27-08-2020 08:19PM

Spanish Eyes wrote: »

I often wonder what all that money means to them. I mean there is only so much you need to spend on food, homes, and family.

Well I suppose I am an outlier here, but could never understand the desire to be a bulti billionnaire. Maybe it gives them influence on Gov or something.

Taxation is only a very small part of it. Power to influence things I suppose.

I know someone who has a net worth of a few hundred million very well and being honest I don’t really envy him , the more money he makes the more he wants and it’s almost like a burden to keep up with the even richer guys he associates with .

The only thing he has that I would genuinely envy is a private jet , that’s one of the few things really rich people can have that the rest of us can’t

Signore Fancy Pants · 27-08-2020 08:28PM

Why cant you just be happy for me ye jealous c.unts.

Dr. Bre · 27-08-2020 08:28PM

They are a great bunch of lads

Spanish Eyes · 27-08-2020 08:32PM

As I said earlier the bulty billionaires can influence Government policy to a great degree.

You could not spend that money in your lifetime. Cannot get my head around billionaires, but I suppose they live on vegetable soup or something.

I mean who could eat lobster every day or the equivalent. Just so boring. If you have everything, what do you need/want anymore?

Nods head and needs help here! LOL.

4068ac1elhodqr · 27-08-2020 08:35PM

Deleted User wrote: »

They have likely paid more in tax than most individuals already. And considering the manner of their lifestyles, they pay quite a bit of tax on all that luxury living.

In 2018, billionaires paid a smaller portion of their income in taxes than average (working class) Americans. That's the first time that has happened in history.
https://www.businessinsider.com/american-billionaires-paid-less-taxes-than-working-class-wealth-gap-2019-10?r=US&IR=T

(US)billionaires paid 23% of their income in federal, state, and local taxes, while the average American paid 28%. Even back in 2011 Buffet paid less percentile tax than his secretary.

Elsewhere Billionaires have many tools: partnership structures, write-offs, and other specific accounting tactics to legally reduce or defer their taxable income. Trust funds for billionaire's offspring is popular, but likely not worth while or efficent to set up for the average lowly millionaire. Many of uk's super-rich don't pay as much IHT(40%) as the average upper middle class person, thanks to a full toolkit of mitigation routes.

The Paradise Papers, along with recent celeb accounting schemes highlights yet more schemes. More Locally, Bono used low-tax Malta to buy a share in a Lithuanian shopping centre.

Spanish Eyes · 27-08-2020 08:36PM

Cyrus wrote: »

I know someone who has a net worth of a few hundred million very well and being honest I don’t really envy him , the more money he makes the more he wants and it’s almost like a burden to keep up with the even richer guys he associates with .

The only thing he has that I would genuinely envy is a private jet , that’s one of the few things really rich people can have that the rest of us can’t

Yeah maybe you hit the spot there, it is a competition amongst them. I really dunno. Private jets are drug mules anyway, generally. But why? if you don't need the money?

But am so happy with my lot, gruel on Monday, fish heads on Tuesday and leftovers for the rest of the week here.

Greyfox · 27-08-2020 08:41PM

Cyrus wrote: »

I know someone who has a net worth of a few hundred million very well and being honest I don’t really envy him , the more money he makes the more he wants and it’s almost like a burden to keep up with the even richer guys he associates with .

It's a little bit disgusting, pure greed really, quite common with very rich people though.

Opinion on billionaires.

Comments