Rich athletes, celebs & businessmen do deserve their money.

[Petrolheadia]

I often find people saying things to the effect of "why should x be getting so much money, when y get so little?" or "do x really work z times more?"? Well, I believe that there are legitimate reasons for such sums to be earned.

First of all, despite what internet commenters can tell you, those guys actually respond to actual needs. In case of celebrities and athletes is the need is their fans' leisure, which is an important part of life. And while the employees of companies may have the practical knowledge of their industry, the theoretical one is necessary, and some people are gonna possess it to a far better degree, one that can put them in a management position.

Second - and maybe more importantly - when you see the scale of what they do, the figures will make much more sense.

Suppose the CEO of General Motors only got ten dollars from each car sold. In that case, she would get a significant raise.
Then suppose General Motors assembly employees would get ten dollars per car sold. In that case, they would have to learn how to live at about 30 cents per manhour.

Or that Premier League players got 50% of what the clubs earn on their games, and 5 pounds off each match attendance. In that case, they would still get around five million pounds a year, and that's assuming no merchandise, licensing, etc. deals.

And when it comes to billionaires like Jeff Bezos, their wealth comes from what they managed to get when their decisions concerning the running of their companies increased stock prices. And even that wealth is usually a fraction of total company value - for exampleMr. Bezos owns less than an eight of Amazon, and got the 100% off an investment of just $300k.
And before anyone says anything about the workers of Amazon - what makes the company they work for be a booming player, not just another market failure? Do they somehow become better when they join Amazon ranks?

So I believe that such rich people do deserve their wealth. They put in valuable labor, and did it on a scale that justifies such payout.

And what do you think about it, NSG?

[Rojava Free State]

I think everyone in society still should be able to get by and money shouldn't influence our governments policies or how our justice system functions

[Petrolheadia]

I think everyone in society still should be able to get by and money shouldn't influence our governments policies or how our justice system functions

I also don't value money that much. But I have no problem with those who do.

As for the influence of money on government - yeah, we need less of that. Maybe even restrictions of donations and court spending in order to stop cronyism.

[The Alma Mater]

Deserve ? Yes.
Is it desireable that they get what they deserve ? Debateable.

[Petrolheadia]

Deserve ? Yes.
Is it desireable that they get what they deserve ? Debateable.

What do you mean by "desirable"?

I don't think I would explictly desire wealth earned by another man.

[Nakena]

I've read somewhere that in 1950s America (sic!) there used to be absurdly high income taxes at the upper ends. The details escape me however.

[Saiwania]

Whether anyone deserves their money or not usually isn't so clear cut. I'd say its yes and no.

Capitalism doesn't really care about who deserves what, the income you get only reflects the value you happen to bring to the market, it doesn't say anything about you as a person.

If we're taking Jeff Bezos as one example, its true that he indirectly drove some competitors out of business or did lots of tax avoidance, which might be seen as bad or unethical in terms of him aspiring to become a monopolist. But on the other hand, he deserves his money in the sense that no one else happened to come up with the idea for Amazon and execute on it as well as he did, so he clearly changed the world and made an impact.

[Galloism]

I've read somewhere that in 1950s America (sic!) there used to be absurdly high income taxes at the upper ends. The details escape me however.

Top rate was 91% at one point, but basically no one paid it.

[Petrolheadia]

I've read somewhere that in 1950s America (sic!) there used to be absurdly high income taxes at the upper ends. The details escape me however.

Top rate was 91% at one point, but basically no one paid it.

Laffer's curve is a tough bitch.

[Ifreann]

I'm not terribly interested in what people deserve. The rich having so very much while everyone else has so little is a problem whether they deserve to be rich or not.

[Galloism]

Top rate was 91% at one point, but basically no one paid it.

Laffer's curve is a tough bitch.

Yeah. Notably a curve, not a line with infinite income at 0% tax.

[Petrolheadia]

I'm not terribly interested in what people deserve. The rich having so very much while everyone else has so little is a problem whether they deserve to be rich or not.

Why is it a problem? Jealousy? Unwillingness to do own work?

[Gagium]

I'm not terribly interested in what people deserve. The rich having so very much while everyone else has so little is a problem whether they deserve to be rich or not.

But you are "interested in what people deserve" if you want wealth redistribution so the poorer have more.

[West Leas Oros 2]

What labor have they put in?

[Petrolheadia]

I'm not terribly interested in what people deserve. The rich having so very much while everyone else has so little is a problem whether they deserve to be rich or not.

But you are "interested in what people deserve" if you want wealth redistribution so the poorer have more.

The money equivalent of "Have I told you how much I am over my ex?"

[Petrolheadia]

What labor have they put in?

Work isn't just blue-collar, y'know.

[Nakena]

I've read somewhere that in 1950s America (sic!) there used to be absurdly high income taxes at the upper ends. The details escape me however.

Top rate was 91% at one point, but basically no one paid it.

So more a theoretical thing?

[West Leas Oros 2]

What labor have they put in?

Work isn't just blue-collar, y'know.

I know. But even still, do these people do white-collar work either?

[Petrolheadia]

Work isn't just blue-collar, y'know.

I know. But even still, do these people do white-collar work either?

Blue and white isn't the only stuff you can do. Making money isn't always doing a typical job.

[Ifreann]

I'm not terribly interested in what people deserve. The rich having so very much while everyone else has so little is a problem whether they deserve to be rich or not.

Why is it a problem? Jealousy? Unwillingness to do own work?

It's a problem in that people are suffering and dying because they're poor.

[West Leas Oros 2]

I know. But even still, do these people do white-collar work either?

Blue and white isn't the only stuff you can do. Making money isn't always doing a typical job.

Well yeah, you can make money without doing labor even.

[The Two Jerseys]

Yes, if you're responsible for generating big revenue for your employer then you deserve to be paid well for it.

[Ifreann]

I'm not terribly interested in what people deserve. The rich having so very much while everyone else has so little is a problem whether they deserve to be rich or not.

But you are "interested in what people deserve" if you want wealth redistribution so the poorer have more.

I want everyone on Earth to be safe, healthy, comfortable, happy, and all that good stuff. Whether we all deserve that is not a consideration for me. I just think it would be good.

[Petrolheadia]

But you are "interested in what people deserve" if you want wealth redistribution so the poorer have more.

I want everyone on Earth to be safe, healthy, comfortable, happy, and all that good stuff. Whether we all deserve that is not a consideration for me. I just think it would be good.

And we're getting there. We've got a good thing going, why stop?

[Nakena]

But you are "interested in what people deserve" if you want wealth redistribution so the poorer have more.

I want everyone on Earth to be safe, healthy, comfortable, happy, and all that good stuff. Whether we all deserve that is not a consideration for me. I just think it would be good.

Thats not a bad thing but of course ya know... we disagree on the way to that. A little. ; )