To think billionaires shouldn’t exist?

[ThisIcyWriter]

No one earns a billion through hard work alone - it’s exploitation. AIBU to think billionaires shouldn’t exist in a fair society?

Quite right OP let's all live in a society where everyone gets the same, gets treated the same, has the same money. Because no exploitation or corruption happens in communist countries.

Viva la revolution . I totally agree. Their wealth is growing by taking advantage of the work we put into growing the economy by buying things and working. Unfortunately I think the only way to get off the wheel which is powering them is to go and live in a self sufficient commune which isn't very realistic...

I don't object to billionaires. But I do object to greedy billionaires. It made me sick when I read about Rishi Sunaks wife trying to reduce her tax bill by being a non dom. Shameful.

So think of everything you own or use what would you be missing if they were not there?

So are you a communist?

Why ever not? Thats barmy OP. Someone has a talent for taking risks and making oodles of cash good on them I say! Their life they get to live it as they want. I envy and admire them,

Yes!! Communism!!! Bring it on. That failed notion of sharing and caring. Except the top takes the fruits of the state. If people run a successful business and pay staff fairly, what’s the issue? As long as they pay tax. We actually need more of them.

The only thing I have against billionaires is that I'm not one.

Agreed. To amass that amount of money, you have to have exploited your employees. Why weren't they paid more for the wealth they helped create?

No one needs that amount of money. No one works hard enough by themselves to justify that amount of money. Even with a bright idea, the actual money has come from the labour of others.

It's disgusting really.

I am with you!

Nope, good luck to them.

That's a huge jump from billionaires exploiting those who's labour they use!

You do realise there are many positions in between late stage capitalism and pure communism, right?

I think as long as they pay fair tax and their billions can't be used to get political power as well as economic power its all good.

But I don't think that happens so I am a bit interested in what we do to limit one or two people having undue influence on a whole country.

I don't think stopping billionaires is the answer though.

This completely.

But this thread is just going to attract the far right wing bots and nutters who can't and won't for themselves.

Yanbu. Once you're at a billion the taxes should be stratospheric.

A billionaire has multiple homes, cars, a jet, yacht, art, jewels, couture, chefs, generational wealth, lawyers, healthcare etc. Don't need any more. It's just hoarding money at that point.

So billionaires vanish and the world will become perfect? Can you explain how that works

Well I don't think we can make a law no one can have that much money, or put a cap on how much money they can make. As much as they're making loads, they're also contributing far more in taxes/to the economy than the average Joe.

What would make more sense is clamping down on tax loopholes and having more stringent global standards/regulation on labour standards. But it's not going to happen overnight.

You’re not wrong.

How can we consider ourselves civilised when we have millions of people scraping by living in terrible poverty whilst billionaires struggle to spend their money.

I don’t care how much billionaires have. I’m way too lazy to try so good luck to them. All this ‘eat the rich’ bollocks is juvenile and smacks of jealousy.

Communist china is this way =>

I don't resent billionaires per se...but the pendulum has swung too far in their direction. Barely paying any taxes and buying/governments is dangerous.
When the pandemic happened any one of them could have vaccinated the world and barely noticed the expense. Instead they're building bloody space ships that don't work.
We went to Saltaire last year. A whole town built by an employer for his workers. see also Port Sunlight and Bourneville. Now you have Amazon workers who are so badly paid that they live in their cars.
Where are the Elon Musk/Jeff Bezos libraries and hospitals?

Did anyone actually say that?

I don't think I've ever seen a thread where so many people can't read or comprehend words.

I agree in theory OP, there should be a cap on personal wealth, (a high cap, not communism as pp are saying) but not sure how it works in practice.

Do you say, after £100 million any more money you make goes to the government? If so, you’d have to have a global agreement on this, otherwise the billionaires will simply move. I don’t think you’ll ever get that.

Think about what good could be done in the world of just a small amount of the wealth of the super wealthy was used for world wide issues.
This is a bit old but is a visualisation of Jeff bezos wealth.
https://mkorostoff.github.io/1-pixel-wealth/

With just some of it, clean water could be provided to everyone in the world.

So JK Rowling didn't earn her money and exploited people?! 😆 I guess she's not technically a billionaire, what with giving so much money to charity...

Is there a middle ground?