Should there be billionaires?

[KK10]

Ballmer’s donation percentage would be lower if he hadn’t made such a huge gift to Kawhi Leonard through that phony tree charity thing

 

[steross]

Governor Gavin Newsom

For the bottom 40% of families, California taxes are LOWER than states like Florida and Texas. In fact, 16 other states tax LOW-WAGE earners MORE than California taxes our HIGH-WAGE earners. The...

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Where this came from: https://itep.org/whopays-7th-edition/

 

[steross]

What happens when a non-billionaire* has billionaire money.

https://www.wsj.com/finance/cryptic-emails-and-no-strings-attached-how-mackenzie-scott-gives-away-billions-7ca3e44c?st=SFhiLJ&reflink=desktopwebshare_permalink

*I know she is IS a billionaire, of course, but she is not the person that obtained that personal wealth. I believe that the mindset to obtain that level of wealthy often is counter to the actions she is doing.

 

[CptnQuirk]

Now you are getting to the roots of all of this. A lot of these guys/gals just own controlling shares of large corporations. I'd be willing to bet a lot of them don't pay themselves extremely well. I would also bet the lot of them spend very little of their own $. Hell, that's true for small business owners. They will keep their salaries below the tax threshold and just buy everything they own on a company card and write it off as overhead.

If you want to fix the tax issue you are going to have to go after purchases in my opinion.

BS on the buying personal goods through a company when referring to small business owners. I work for every dime I get paid and get almost nothing for my personal benefit through my company. No one wants red flags on their tax returns which invites an IRS audit.

 

[GratefulPoke]

What happens when a non-billionaire* has billionaire money.

https://www.wsj.com/finance/cryptic-emails-and-no-strings-attached-how-mackenzie-scott-gives-away-billions-7ca3e44c?st=SFhiLJ&reflink=desktopwebshare_permalink

*I know she is IS a billionaire, of course, but she is not the person that obtained that personal wealth. I believe that the mindset to obtain that level of wealthy often is counter to the actions she is doing.

100%. But I don't think that is a good argument in support of the existence of billionaires. It does support the idea that no one should be a billionaire though.

 

[Bowers3]

100%. But I don't think that is a good argument in support of the existence of billionaires. It does support the idea that no one should be a billionaire though.

 

[GratefulPoke]

Thought provoking video, thanks for sharing it!

I agree with an alternative minimum task, but I don't think we should start there.

I think 1-2 years public service is a good idea, but I don't think it should be military service. We already have a problem with imperialism and war in service of empire. Expanding that pool will only lead to bad things.

But 1-2 years after high school/college to do public works and infrastructure projects would pay dividends in civics lessons in addition to replacing aging and failing infrastructure.