Are there too many billionaires for a healthy country? World?

[Trade]

Back in the 1950's when the top income tax bracket was 90% the average CEO made about 40 times what the average worker made. And he knew that if he jacked his pay up any more the government would take 90% of it. So instead he used that money to reward his employees with better pay and benefits. But now with that top bracket down to 37% the top dogs look at that and say, damn, I'll just keep these extra profits that we made and keep them for myself.

So now the average CEO makes 400 times what the average worker makes and it take two incomes to make ends meet and come retirement time the average worker has to hope that he's been able to put away enough in his 401 K so he won't run out of money before he dies. Today most Billionaires are bloated ticks that have gotten there by sucking the life out of the rest of us by undercompensating their workers and overcharging their customers.

 

[CooCooforCoCoPuffs]

I enjoy anyone who contributes to, or has contributed the US tax base.
Bring on the millionaires and billionaires!

I would like to be one, somewhat. I just don't want the crap of being hated for my megabucks that comes with it.

 

[CooCooforCoCoPuffs]

Trade:
Am not entirely sure the billionaires are to blame for two incomes being needed.

Sometimes, I think that is more due to a huge increase of women being educated and women in the work force, as well as most homes having TWO earners being in a household vs one earner in the 50s. Another is the regulations REQUIRING all this crap on manufactured products and homes, cars...etc - all that raises the price of products, cars and homes. Look at housing in California...what they have added on as regulatory!

Good grief, I won't want solar panels, they aren't cost effective. I want a nuclear reactor.

 

[Trade]

Trade:
Am not entirely sure the billionaires are to blame for two incomes being needed.

Sometimes, I think that is more due to a huge increase of women being educated and women in the work force, as well as most homes having TWO earners being in a household vs one earner in the 50s. Another is the regulations REQUIRING all this crap on manufactured products and homes, cars...etc - all that raises the price of products, cars and homes. Look at housing in California...what they have added on as regulatory!

Good grief, I won't want solar panels, they aren't cost effective. I want a nuclear reactor.

 

[Packerjohn]

I am sure that I have known some and do currently know some! But I cannot be sure as it is difficult to determine who is a billionaire or millionaire.

Some people seem to be rich, but in many cases, they just are carrying a ton of debt. You know the type, a couple of cars, maybe two or three homes, etc., etc. Some of these folks owe more on their debt than they have in the bank rolls. I have never spent time worrying about who was rich or poor, I prefer to judge people based on that they do or don't do and how they treat me and other people.

Timewise 60+ your smarter than most people. For me, I'd rather have a completely paid for 8 year old car in my driveway than the neighbour with the brand new shiny toy that is going to be making big monthly car payments for the next 7 or 8 years and then it will just be an old vehicle. I call that a VERY POOR INVESTMENT and I call that man/woman a REAL SUCKER!

 

[Babs2u]

View attachment 388194

"Their gain is not your loss" unless they are running the government, in which case it could be all our losses.

 

[Babs2u]

I enjoy anyone who contributes to, or has contributed the US tax base.
Bring on the millionaires and billionaires!

I would like to be one, somewhat. I just don't want the crap of being hated for my megabucks that comes with it.

It's all the loop holes they enjoy plus the influence they have in perpetrating more wealth for themselves and less for everyone else.

 

[chic]

You are completely forgetting or ignoring inherited wealth.

Absolutely.

 

[Nathan]

Are there too many billionaires for a healthy country? World?

The larger question would be: "is there going to be enough room in Hell for them all?"

 

[Inept]

I loved that TV show! My sister and I would seriously discuss what we would do in his position, who we would give money to.

Yes! We all got exited and thought about what we'd do with a million dollars! I don't remember how old I was at that time but I probably would have spent it on Reese's Peanut Butter Cups, Cream Soda, and the fastest bike in town!

And while I'm talking to you, Inept: don't let the razzing of your so-called "socialism" bother you--I think your posts here are grea:

Your kindness is highly appreciated, Marcy.

 

[CooCooforCoCoPuffs]

Wealth ought to be distributed from the bottom up .... not from the top down. Decide on a livable minimum wage (or maybe unemployment wage) and make sure that NO ONE gets less than that. Let wages and income and uneployment benefits be the bottom rung. Up from there ought to be obvious depending upon abilities and effort. If there are billions "left over" then decide who should get it an why. Who cares? But if the income of the bottom rung is insufficent then there should not be a single billionaire.

Who decides what is a "livable minimum wage or unemployment wage"?

The state (government)?

So from there, there is no competitive wage by those skills in demand, but some wage set by whom?

The state (government)?

So from there, who decides if one has made enough "effort" to be awarded said wage the government sets?

Where are the "billions" left over from going to come from?

And where is the money going to come from to start businesses and activities where people work to get these bottom up wages that are supposed to make left over billions?

Has there been, or is there some society or economy today, that is similar to your idea?
Has it been possibly tried in the past? And how did it work out before?

 

[CooCooforCoCoPuffs]

Socialism is thinly veiled slavery on Utopia manufactured steroids.

 

[papa tiger]

Look to the Tax schedule for an average family / single or head of household income.
Then look to the write offs the wealthy use to keep from paying near 40% taxes.
Its criminal to an average family what is happening. There always are ones to take their places.

Sure, they have their tax evading plans with cash giveaways that end up in other soon to wealthy pockets.
Foundations etc. Henry Ford was like a Dictator. Thas all. Relatives moving on Weller off.

The IRS is not taxing them correctly / they can't get the cash out of them.

 

[seadoug]

Inept...your ID on here is correct for you! Your concept of "distributing" from the bottom up would create a socialized population! And we all know how that does not work compared to free market capitalism...

 

[CooCooforCoCoPuffs]

Billionaires have far too much power in a democracy, such as ours. They have the ability to buy influence and have legislation tailored to their wants and needs. It's supposed to be that everyone's vote is equal, but that's not the case any more. Just look at all the money Meta and Amazon, are "donating" to the upcoming inauguration. They're buying influence is what they're doing. Best damn government money can buy.

If I were a billionaire, I'd want legislation tailored to my wants and needs, too!
I'd influence voters with my money for what I saw as good causes I care about!
Just being honest.

 

[Inept]

Oh! So many questions!

Who decides what is a "livable minimum wage or unemployment wage"? The state (government)?

The cost of living decides.

So from there, there is no competitive wage by those skills in demand, but some wage set by whom? The state (government)?

The same as it's always been: Performance.

So from there, who decides if one has made enough "effort" to be awarded said wage the government sets?

Again, performance. People get better jobs, higher positions, pay raises, and promotions ..... right?

Where are the "billions" left over from going to come from?

I don't understand your question. Is there money in circulation or not?

And where is the money going to come from to start businesses and activities where people work to get these bottom up wages that are supposed to make left over billions?

From those with good ideas and finacial backing from various sources ... just like today.

Has there been, or is there some society or economy today, that is similar to your idea?

Today? We are discouraged from making politcal statements on this forum.

Has it been possibly tried in the past?

Yes.

And how did it work out before?

Very, very well.

 

[Inept]

If I were a billionaire, I'd want legislation tailored to my wants and needs, too!
I'd influence voters with my money for what I saw as good causes I care about!

Just being honest.

I'm sure that you are.

 

[CooCooforCoCoPuffs]

Inept: "Today? We are discouraged from making political statements on this forum."

Stating the name of a society or societies, or economy isn't a "political statement" at all.
I was asking to discussing societal, government and economic systems to support your thoughts and ideas regarding billionaires' contributions to society.

"Yes" answers are not a discussion and is tedious.
It is like playing a game such as "What's My Line".

You will have to do better than that in order for me to understand your point of view.

 

[Lavinia]

Yes. You've pinpointed the problem and why it's never solved.

This is the problem in Britain. The political parties rely on donations, so the donors are in a position to dictate what the government does.

 

[papa tiger]

It's the buy two or more tickets to the shindig and we will put you on our List of benefactors.

 

[Inept]

Inept: "Today? We are discouraged from making political statements on this forum."

Stating the name of a society or societies, or economy isn't a "political statement" at all.
I was asking to discussing societal, government and economic systems to support your thoughts and ideas regarding billionaires' contributions to society.

Your question isn't political but my answer would have to be.

"Yes" answers are not a discussion and is tedious.
It is like playing a game such as "What's My Line".

You will have to do better than that in order for me to understand your point of view.

As I've already stated, me "doing better in order for you to understand my point of view" would require a political response. I don't make the rules here.

 

[rgp]

Trade:
Am not entirely sure the billionaires are to blame for two incomes being needed.

Sometimes, I think that is more due to a huge increase of women being educated and women in the work force, as well as most homes having TWO earners being in a household vs one earner in the 50s. Another is the regulations REQUIRING all this crap on manufactured products and homes, cars...etc - all that raises the price of products, cars and homes. Look at housing in California...what they have added on as regulatory!

Good grief, I won't want solar panels, they aren't cost effective. I want a nuclear reactor.

"
Trade:
Am not entirely sure the billionaires are to blame for two incomes being needed."

I agree. And IMO much of the cause is overspending by so many people.

It seems like so many seem to think they need a 5000 sq/ft house and a $75,000 SUV to go with it. Not to mention , $1000 cell phones, and an entertainment room in that expensive house !

And again opinion but ..... I believe much of this comes from TV, that's about all we see displayed there. Hell even advertising seems to push allot of over-the-top trappings & bling.

Being Christmas time , once again a local jewelry store is announcing "special" financing on used Rolex watches , up to 60 months ...... 5 years to pay off a used watch ?!?!

It's no wonder people are in financial trouble.

And no wonder they say they have a large selection. I guess the folks that buy them go broke, and sell them back to the store ....... I'm sure @ quite a loss.

 

[Aunt Bea]

In some cases the need for two incomes is about survival but for many it’s a lifestyle choice.

 

[Pepper]

My mother always said to "Save for the Rainy Day."

 

[fuzzybuddy]

I don't think it matters much to me that someone has many $billions and I don't. That's the way our economy works. That said, I'm quite sure there are special tax credits that apply to only them.