crockett

These 26 billionaires collectively made 2.5 billion dollars a day.

Report: 26 People Own as Much as the Poorest 3.8 Billion | Time

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crockett

1 year ago it took 43 people to make up the same percentage as this year.

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pimpmaster9000

Money hoarding is glorified...every cent over a 10 million net worth should be taxed at 90%...only money invested in creating new jobs should be exempt from tax...

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Bladewire

I'm 100% all for capitalism

There will always be someone at the top no matter how the system is skewed.

My problem with this is their big multi national corporations that stunt the growth of others by patent hoarding, patent troll suing & slap lawsuits to bankrupt startups. When you abuse the legal system and use your money to keep the patent system broken, that's not capitalism that's corruption.

onwebcam

You should go take that from them.

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pimpmaster9000

inequality is the enemy of any true democracy...the greater the inequality the higher the potential for a crony government that is out of control...capitalism and high tax are not mutually exclusive...10million$ is sufficient... anybody who wants to just hoard and pass on dynasties can go fuck themselves...on the other hand, successful people who really want to contribute to humanity should be rewarded with 0% tax if the use this money to create new jobs...new jobs = more buyers...nothing is more capitalist than this...lots of middle class with low inequality is the optimal stable capitalist market...on the other hand high inequality is basically communism...

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Bladewire

Something to keep in mind.

The richest people are not rich because of the amount of money they have in bank accounts. It's net worth which includes value of businesses, stocks, hard goods, property, etc.

Jeff Bezos company Amazon, just one of his many companies, employs 542,000 people

OneHungLo

You're insane and spoken like a true peasant. I can guarantee if you started a business and started making 20 to 30 mill a year you would change your mind real fucking quick. God damn commies.

Socialism and communism do not work. They never have and never will.

Markul

Never thought I'd say this, but I agree 100% with you on that.

TheSquealer

Uh... there's no such thing as "money hoarding". Where do you think all that money is? Under a pillow? it's in the banking system. It's in the global financial system. It's the home loans, the car loans, the construction loans, the business loans, it's funding the growth and development of the areas it touches. It's in the financial system... not buried in a forest.

Quite bizarre that you "agree 100%" with a guy dispensing economic opinions,... who's "wealth" is best measured in grains of rice, goats and chickens.

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crockett

There are two types of rich. There are guys like Bezos, Bill Gates or Elon Musk all of which created products or services which made them rich..

There are the ones who just put their money in mega money funds to take in billions from interest or investments.

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pimpmaster9000

peasant, I come from a banking family...you are of course a simpleton who thinks I am talking about cash...this is very amusing...I am talking about the undemocratic allocation of money...money is printed out of thin air and granted speculatively to the safest option (millionaires)...this money is used mostly for real estate investments that leads to negative gearing...the bill for the "inflation tax" that must ensue, like after any money print, the value of the currency goes down and the bill gets picked up by others...the rich just get richer the poor pick up the inflation tab...

in a system where funds are democratically allocated banks would be prohibited from printing money out of thin air for real estate speculators...the money belongs to EVERYBODY not just the elite and EVERYBODY has the right to decide how THEIR money will be spent...

the current financial system is a "Bro club"...enjoy the next financial crisis and remember that my balls will be resting on your forehead at that moment


btw I am not talking about cash just so your simple brain understands...I am talking about total net value in all possible ways...

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Bladewire

Good point

Putting that money in investment funds is investing in American businesses, it's not like it's just sitting in an interest-bearing account that's doing nothing but giving money for the bank to loan.

pimpmaster9000

guys like bezos,gates,elon would have no problem getting money from banks if they want to create jobs...nothing would change...it is a great system because I believe bezos is a shitbag who believes only in greed and a 10mil cap would force him to distribute his wealth if he wants to go on....musk on the other hand would not get discouraged he seems like a guy who does not really care about the money...

there is no reason to support people who feel they need 200million$ yachts...it would be easy to enforce, people would say that billionaires would go abroad but if they want to sell in the USA they have to comply to the 10mil rule....if not they are free to fuck off...also there would have to be a min % tax based on sales in that country...no excuse...

the system would work fine but this would weaken mega corporations with huge interests...it would give rise to a very strong middle class...it would lead to democracy LOL

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SilentKnight

Does the rest of your "banking family" have all day to sit around and endlessly post shit on a porn forum?

You go girl.

pimpmaster9000

enjoy the next financial crisis

its "normal"...

oh and the next "elections"...your auction elections is exactly what you get when money gets concentrated...you now have redhats who fall for magic beans and an after market where corporations get to buy more democracy by means of lobbying...the dumb and the rich are in charge basically

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Paul Markham

In this brave new world our politicians are creating for us. Will the average man be better off or worse off?

Well let's look at the last 20 years for some clues.

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BaldBastard

If your earning more than $100 a week.. your already in the 1% of top income earners on the planet.

Bladewire

Are you serious?

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crockett

I do $2-3k/week when I work, but it would take 7 years of that to even make a million bucks and that's saving every dollar and no taxes. You will never "earn" your way to being a millionaire by working a job even if you make good money. You have to get there with investments or compounding the earnings in some way or doing the next great new idea thing but that's about like playing the lotto.

That's 7 years working every week assuming no investments just making money from work to make just a million bucks.. Meanwhile these guys are making 2.5 billion a day..

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klinton

you meant top 10 %, not 1 % ?
I think it would be around 20 % more realistically.

pimpmaster9000

This is how the game is rigged...

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OneHungLo

How optimistic of you. That's the problem with you socialists. You have absolutely no faith in yourself. I see these 20 yr old retards talking about how awesome socialism is and lets rob and steal from all the millionaires and spread it amongst the losers. When I was 20 I was thinking and plotting how I can play the game to get myself in the millionaire club. I wasn't plotting to steal it from someone who worked their ass off for it.

crockett

Except.. you seem to miss the fact that those politicians & 1% are plotting and scheming to make sure that you and I play far more than our far share while they keep all of theirs.

That's the point you miss..but of course you miss that..because you're more worried about finding a way to call those you don't like names..

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pimpmaster9000

If a few socialists talked stupid shit then this totally gives you the right to have ambitions in a rigged game and it also makes it ok...god damned commies complaining about the negative gearing....they can just shut up! (And pay rent hue hue hue!)

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Bladewire

Not everyone can win just deal with it peasant beggar j/k

BaldBastard

No I pulled the number out of my ass

According to Investopedia

https://www.investopedia.com/article...cent-world.asp

It's $32,400 a year or $89 a day, make that and your in the top 1% of worldwide income earners.

If you remove western countries from the equation.. then its back around a dollar.

To crack the top 1% in the USA you to make $421,926.

OneHungLo

What would you rather have socialism or communism? I agree it's rigged but if you're smart enough you can play in the game too. I'd rather have this rigged system than a communist or socialist one, wouldn't you?

pimpmaster9000

Capitalism is not about the "bro club" and a fair capitalist economy is not the same as socialism...

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OneHungLo

Let's put aside your hatred for America. Do you really think we'd be better off abandoning our capitalist system for communism or socialism?

I know they system is somewhat rigged but you'll never get anything perfect. it is what it is. If you work hard, have some brains and you're persistent, you can not only make it, but be very successful.

I think you see a lot of "downtrodden" brown people here in poverty and think it's the rigged system and evil whitey at work here, but it has to do with people that simply cannot function in 1st world societies. Yeah the system isn't perfect, but it's not broken.


Please show me where in history have people been better off with socialism or communism rather than capitalism

directfiesta

should stick to memes .....

freecartoonporn

the only way up, is working harder and smarter. and offcourse corruption, money laundering, drugs etc etc etc.

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Paul Markham

What to you is socialism?

To me it's the government providing decent levels of healthcare, education, policing, housing for the poor, welfare for the dispossessed, pollution control, environmental issues, etc. With a bit of publicly owned utilities like electricity, water, trains. Because big monopolies can't be trusted to look after anyone but themselves.

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Paul Markham

And what if you're not smart enough, education wasn't good enough, you won't work for the rates illegal immigrants will or even if you're poisoned by some company throwing it's waste into the rivers or seas?

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Paul Markham

https://www.cnbc.com/2018/02/06/us-n...-children.html

https://www.bestproducts.com/fun-thi...es-to-live-in/

These lists prove you wrong.

The problem is with so much wealth in the hands of so few, they wield too much political power. Power over taxation systems, the ability to hire people to avoid paying taxes, to avoid employing people, to move jobs out of the West into Third World countries, but tax avoidance is top of the list. If they don't pay, you have to. https://www.google.com/search?ei=nSd....1l8cV oTOw0I

Or the country sinks into a sea of debt.

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pimpmaster9000

again you are defending the rigged system and pretending that any non rigged game is socialism or communism...I understand that you like the "Bro club" corruption and that it makes you money,,,it is the american way...cheat and pat yourself on the back because you are so "advanced"...

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pimpmaster9000

kinda like you moved to a cheap country and stayed there to avoid hiring your countrymen

"paul markham-ing"

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NoWhErE

Neither does capitalism. So whats your solution?

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klinton

well if for your they are equal, why wont you try your luck in some socialist paradise, like Cuba or Venezuela ? but go there without cash and try to live like locals do

OneHungLo

Paul you can't use those Scandinavian countries as an example because they're not true socialist countries. In a true socialist economy, the government owns and controls the means of production. Those Scandinavian countries are ONLY prosperous because 1) they haven't always had their high taxes and safety nets and most importantly, they're prosperous because of their free markets, which directly contradict socialism.

OneHungLo

Exactly. It's pretty funny on an actual business forum we have people wanting socialism and communism. Strange shit.

Paul Markham

I think you're confusing communism and socialism.

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