Should billionaires exist? 「Yes or No」

[Shin-Mutsu]

As title says, should billionaires exist? In our world there are millions suffering from malnutrition and treatable・preventable diseases, people selling their bodies to corporations and work long hours to remain above the poverty line, and many even in developed nations are left homeless and in want. In this terribly unequal world of ours, can existence of billionaires such as Musk, Bezos, and Zuckerberg even be justified? I say no- that the state should not allow their exploitation of other people's labour to enrich themselves with ill-gotten gains any more. I support a progressive tax bracket which taxes any person with income above 10 million US per year at 90%+, and 100% for any income above 100 million, as well as heavy wealth taxes.

So, do you believe billionaires should exist? I look forward to your comments.

My other nation is Sanghyeok

[Dominioan]

They hoard money and keep it stagnant, which does not help the economy at all. And while many are self made, and I respect that, a lot are just from rich families and don't have to put any effort into anything since they already have the money they need.

[Honeydewistania]

Absolutely not.

[Shin-Mutsu]

Absolutely not.

I'm reminded of a chart I saw earlier about "alignment of billionaires". In my opinion, there are very few if any "good" billionaires.

[Picairn]

They will be allowed to exist so long as the poor's needs are taken care of. I hear that billionaires from Scandinavian countries still exist.

[Albrenia]

I'm fine with billionaires existing as long as the poor and needy are cared for enough to have lives not filled with endless struggle and strife. Sadly that's not the case at the moment, so I do rather resent their existence.

Many of them do try to turn their money to good causes, no doubt, but I'm not entirely convinced that such measures aren't just to make themselves look good.

[Shin-Mutsu]

I'm fine with billionaires existing as long as the poor and needy are cared for enough to have lives not filled with endless struggle and strife. Sadly that's not the case at the moment, so I do rather resent their existence.

Many of them do try to turn their money to good causes, no doubt, but I'm not entirely convinced that such measures aren't just to make themselves look good.

Some of them donate billions to charity, but that's still a small portion of their wealth. If they really cared, they would donate far more than just 1-2%.

[Saralonia]

I believe that they shouldn't exist at all, maybe millionaires are more understandable because their wealth can actually cruise through the economy but it's still excessive, many come from old money and do nothing while those that make "themselves" rich usually exploit their workers from day zero, because apparently respecting human dignity is not feasible for capitalists and less so if they want to make a profit, remember to seize the means of production for everyone and not the state, because a state that doesn't share the wealth is the same as a few corporations owning it.

[New haven america]

No.

Once someone gets a billion dollars they should just get a plaque saying "Congrats, you've won Capitalism" and be forced to give up 90%-95% of their earnings and holdings to non-profit scientific thinktanks or charities.

[West The Bon Noratenhalam]

I am fine with them.

[Nevertopia]

As title says, should billionaires exist? In our world there are millions suffering from malnutrition and treatable・preventable diseases, people selling their bodies to corporations and work long hours to remain above the poverty line, and many even in developed nations are left homeless and in want. In this terribly unequal world of ours, can existence of billionaires such as Musk, Bezos, and Zuckerberg even be justified? I say no- that the state should not allow their exploitation of other people's labour to enrich themselves with ill-gotten gains any more. I support a progressive tax bracket which taxes any person with income above 10 million US per year at 90%+, and 100% for any income above 100 million, as well as heavy wealth taxes.

So, do you believe billionaires should exist? I look forward to your comments.

My other nation is Sanghyeok

billionares could exist but there should be more fair living wages as a priority.

[Dominioan]

I believe that they shouldn't exist at all, maybe millionaires are more understandable because their wealth can actually cruise through the economy but it's still excessive, many come from old money and do nothing while those that make "themselves" rich usually exploit their workers from day zero, because apparently respecting human dignity is not feasible for capitalists and less so if they want to make a profit, remember to seize the means of production for everyone and not the state, because a state that doesn't share the wealth is the same as a few corporations owning it.

Millionaires I am somewhat okay with, as long as they are taxed high and continuously invest in the economy, since that reverts my point on stagnant wealth.

[Badjuristan]

Honestly, They can Exist as long as the Blue-Collar's Lives are still good.

[New haven america]

Honestly, They can Exist as long as the Blue-Collar's Lives are still good.

You can't become a billionaire if you're taking in consideration the lives of the Blue-collar workers.

Though, a lot of "Blue Collar Workers" in required unions states are anything but poor. Trade and factory jobs make big bucks in required union states. Guys I know got a factory welding job as an apprentice and was making $25 an hour.

[Disgraces]

What currency?

[Nanatsu no Tsuki]

Conflicted. Maybe if they gave more than they do charities and causes...

[Wizlandia]

As title says, should billionaires exist? In our world there are millions suffering from malnutrition and treatable・preventable diseases, people selling their bodies to corporations and work long hours to remain above the poverty line, and many even in developed nations are left homeless and in want. In this terribly unequal world of ours, can existence of billionaires such as Musk, Bezos, and Zuckerberg even be justified? I say no- that the state should not allow their exploitation of other people's labour to enrich themselves with ill-gotten gains any more. I support a progressive tax bracket which taxes any person with income above 10 million US per year at 90%+, and 100% for any income above 100 million, as well as heavy wealth taxes.

So, do you believe billionaires should exist? I look forward to your comments.

My other nation is Sanghyeok

Something something zero sum fallacy something something Laffer curve.

Even if you subscribed to the max-min Rawlsian Welfare function, 90%+ marginal tax rates, and certainly 100% marginal rates, will not maximise revenue (to presumably be spent on welfare programs). This feels very much like "would rather the poor be poorer provided the rich were less rich."

[Sundiata]

Yes, I think that everyone's wealth should have infinite capacity.

[Cordel One]

I love your topics.

There is no justification for the existence of billionaires and what they do to the working class. The ability of production has broken capitalism to the extent that companies have to artificially create scarcity by destroying excess products to remain profitable. The capitalist hierarchial structure has outlived its usefulness, but the companies still control the means of production. Shareholders and CEOs are the only ones that benefit from the modern system, the rest of us just toil for their benefit. It's workers that generate labor value, not CEOs. Billionaires are not billionaires because they work hard, but because others work hard. I don't know how these leeches can sleep at night knowing how much pain and suffering there is in the world, much of it caused by their own megacorporations. Meanwhile the top 100 companies are responsible for more pollution than the rest of the population combined.

P.S. High school econonmics is an outdated theory, but Marxian economics is still relevant.

[Cordel One]

Absolutely not.

I'm reminded of a chart I saw earlier about "alignment of billionaires". In my opinion, there are very few if any "good" billionaires.

?

[Honeydewistania]

Zucc isn’t even ‘lawful’ lmao

[Eurasies]

This will easily become another topic of the Left vs. the Right

[Dominioan]

This will easily become another topic of the Left vs. the Right

If you mention anything about money in this forum, chaos will follow

[Cordel One]

This will easily become another topic of the Left vs. the Right

If you mention anything about money in this forum, chaos will follow

Did someone say money?

The proletariat hasnothing to lose but its chains down with the oppressive capitalist system aah vgchbjnh vbhunihbuvyfcrt hubchbgcvfgbhnjhbgvfcvgbhnjhbgvfcvgbhnjhbgvfcdfvgbhnjnhbybghnjnhbugyvfdx

[Imperium Latine]

This will easily become another topic of the Left vs. the Right

Nah not really, I'm right wing on the slight majority of issues but billionaires are actually a glitch in the system, no one should have that kind of money specially in a world where factories and companies roam around the world always findinding cheaper labor and leaving millions unemployed elsewhere. Millionaires yeah if they have the merit, billionaires... It's just a glitch as no one, no matter how smart, hard worker generates that amount of money, it's only possible in this globalized market were tech giants and huge multinationals have more power than countries and where the wealth concentration in the hand of the few is mental.