The proportional difference is the same, i.e. the same number of orders of magnitude separate them, but in absolute terms, someone with $10B is closer in wealth to your or I than to Bezos (which, to be clear, does not mean we shouldn’t take it, merely that the height Bezos is at is unfathomable)
Most of their billions is ownership in companies they grew into what they are today. It’s not like they have billions to spend, it’s that their ownership is worth billions according to the market.
They could go to any bank and leverage that asset for a loan for more than everyone who posts on this platform will make in their lifetimes no problem. That is a nonsense talking point
I don’t think the stock market should be determining if we take away companies from their owners, no matter how much it’s worth. Why does having more wealth than a certain size city matter? Especially if your company has more employees and customers than even a large city?
Employees are allowed to buy company stock and vote using it just like anyone else. Many companies even have employee stock purchase programs. What’s the problem ?
So what? We should take away that ownership because they can leverage it? Also the same people suggesting we tax wealth like this want to also close those “loopholes” of low interest loans on shares.
Taking away (extreme) wealth. There’s no reason one person should have that much. There’s countless better ways to use that money/wealth than for one persons extravagant lifestyle. And even if they don’t have an extravagant lifestyle, what are they gonna do with it? Doubt they will build infrastructure out of good will with it.
So take away ownership of a company just because it’s too successful? That wealth is mostly in company ownership, so are you really suggesting we steal away legitimate ownership in successful companies?
I couldn’t imagine spending $1 billion in my entire life, let alone 3-4.
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A million seconds is about 12 days. A billion seconds is about 32 years.
The proportional difference is the same, i.e. the same number of orders of magnitude separate them, but in absolute terms, someone with $10B is closer in wealth to your or I than to Bezos (which, to be clear, does not mean we shouldn’t take it, merely that the height Bezos is at is unfathomable)
Most of their billions is ownership in companies they grew into what they are today. It’s not like they have billions to spend, it’s that their ownership is worth billions according to the market.
They could go to any bank and leverage that asset for a loan for more than everyone who posts on this platform will make in their lifetimes no problem. That is a nonsense talking point
What’s your point? So because they can leverage their ownership of their own company we need to take away that ownership?
Yes, if you can control more wealth than a mid size city earns in ten lifetimes, you should not be allowed to do that
I don’t think the stock market should be determining if we take away companies from their owners, no matter how much it’s worth. Why does having more wealth than a certain size city matter? Especially if your company has more employees and customers than even a large city?
Why do those employees get the bare minimum? Why are the working majority excluded from ownership and decision-making in the companies they run?
Employees are allowed to buy company stock and vote using it just like anyone else. Many companies even have employee stock purchase programs. What’s the problem ?
Why don’t the underpaid employees simply buy enough stock to sway company policy
those shares don’t give you voting rights
those shares amount to a tiny fraction of the total value of the company
without the employees there would be no company
you try to square those three facts
True, but that ownership gives them access to very low interest loans that they then use as spending money and don’t have to pay taxes on it
https://www.businessinsider.com/american-billionaires-tax-avoidance-income-wealth-borrow-money-propublica-2021-6
So what? We should take away that ownership because they can leverage it? Also the same people suggesting we tax wealth like this want to also close those “loopholes” of low interest loans on shares.
Yes.
Yes to taking away wealth or the way to leverage it?
Taking away (extreme) wealth. There’s no reason one person should have that much. There’s countless better ways to use that money/wealth than for one persons extravagant lifestyle. And even if they don’t have an extravagant lifestyle, what are they gonna do with it? Doubt they will build infrastructure out of good will with it.
So take away ownership of a company just because it’s too successful? That wealth is mostly in company ownership, so are you really suggesting we steal away legitimate ownership in successful companies?
Yes. Fuck Capitalism.
It’s not stealing their legitimate ownership. They don’t have legitimate ownership.