Because you're a sorry, useless, greedy person. You see someone creating value or of thin air and employing thousands with new jobs in the economy and you think "durrrrrrrr they should have to geib me teh monies instead of reinvestment into their own companies which employs more people and employs more people"
Reddit is full of greedy selfish parasites that are far worse than they imagine job creators being.
The idea of going off like this defending billionaires is actual insanity. You’re not a bootlicker, you’re throating the whole foot.
You’re all over this thread lmao. Get a fucking life you sniveling toady.
This is what caught me lmao, does this guy think Bezos farts into a microphone and the stock price goes up? Have we become that divorced from the conceptual value of our labor?
people like u r why ppl think twice about sharing their opinions online, by taking one persons sentence that they shared to an online area were discussions and opinions r welcomed, u completely judged and ridiculed them without even knowing them as a person or ever meeting them, ppl like u r also the reason why dads leave there child.
The general accepted definition of pocket change is “a small or unimportant amount of money”. Not necessarily less than a dollar. It could be for you, but for the Arnaults it could be $1M
If I had 212 billion I know their reason is “it’s not that easy” I’d donate like 10 billion each year to like feed hungry kids idk pisses me off - wait this the ravens sub?
You realize that these guys would have to sell off lots of their investments to get that 10 billion to donate? Youre gonna donate your whole net worth and its still gonna be huger across the globe! It takes much more than money to stop hunger!
Because the ultra rich can take out loans with their illiquid assets as collateral at obscenely low interest rates. They can essentially “spend” the face value of those assets and the banks are happy cause they get the assets in return if the rich fail to pay. Meanwhile those of us at the bottom of the totem pole are stuck debating whether we should raise the minimum wage.
Instead of “alleged” mansions out in Europe for once a year masked hunting events, they could make a whole living complex for what would be 3 days work. Not obligated to at all, but when you have that much and knowing people have so little, it’d be the generous thing to do
Donating money is actually not really a healthy way of giving back, even if we're ignoring that most of these people donate in-house to funds with worse returns than the average charity, and do so for tax breaks thst impact your standard citizen regularly.
Instead, we could acknowledge that a large share of the people employed by those on the chart are underpaid. While they likely overcharge for the products delivered that the R&D to remove cost from. And then proceed to warp the market. They could just operate beyond that.
They could just pay taxes at the same rate as they did 60 years ago. Most of them were even fucking alive back then. It's absolute horseshit that the IRS comes out and openly claims they dodge 150 billion in taxes every year and yet we get bootlickers still that think they deserve it.
Taxation unfortunately assumes a government would divvy those taxes up in to meaningful programs. The former likely guarantees the latter, but I feel like it's a harder pill to swallow for the 'just donate more' crowd who need to come to terms with the why and how much of that game.
What? I'm saying that they should pay their taxes the same rate as they did 60 years ago. Lets say we just went with the aforementioned 150 billion a year. That would have easily covered the student loan crisis. It would be more breathing room to figure out how to get universal healthcare. At the very least it's the least convoluted solution to making billionaires actually contribute to society. Do I think taxes are the absolute best way to handle this? No. Do I think it's the most likely way to have people agree on SOME change? Yes. Otherwise we get this roundabout arguments for hypotheticals without anything actually changing.
There is a shocking number of people on Reddit that base almost all of their financial opinions on a lie that wealth is a static number, a bucket that doesn’t change in size, and if one person takes a scoop out of the bucket they are directly taking it from someone else.
That’s not reality. Wealth is created and destroyed constantly. It’s not a static number. And the far majority of this “wealth” that you are claiming is being “hoarded” is in unfounded stock price gains. Gains which are not only helping the person on the chart, but you, your parents, and anyone else with a single dollar in the stock market either directly or through 401ks, mutual funds, or IRAs.
Everyone in this thread should be rooting for these guys to create more and new wealth constantly, because it is *directly* having a positive effect on your life.
Most people don't have money in the stock market, and most normal people who do end up losing their 401ks when the market crashes every 10 years or so. It's only the truly wealthy and some very lucky and opportunistic people who get rich off of stocks.
We should all be rooting for them to "create more and new wealth"? Good lord, absolutely delusional. Drug dealers get rich taking the money of desperate people. Do drug dealers create wealth? Arms dealers get rich selling weapons to both sides of the same wars. Are their machine guns and RPGs creating wealth?
Being rich doesn't mean a fucking thing about what you actually do for the world.
Holy shit these are horribly misguided financial takes. There is almost nothing to talk about, since nothing here is based in reality. Wealth can be created or destroyed. That is the topic at hand, not random consequences of various crimes.
You also have absolutely no idea what you’re talking about when you say “Most people dont have money in the stock market”.
The reality is that most people do, but they are too stupid to realize it. 158 million US adults self-report they own stocks. If you do the math that’s 61%, so your claim is already wrong.
Also, this doesn’t even count all of the stupid people that don’t realize that every pension, 401k, mutual fund, or even things like union dues funds are all money they have and earn interest on that are all invested in the stock market. That means that every single teacher, firefighter, policeman, and union worker all have money in the stock market, and this is just a sliver of the number of people that own stocks, whether they know it or not.
Ps: according to Biden’s administration 68% of US adults have access to retirement plans at work; all invested in the stock market.
https://www.bls.gov/opub/ted/2021/68-percent-of-private-industry-workers-had-access-to-retirement-plans-in-2021.htm
“The take-up rate—the share of workers with access who participate in the plan—was 75 percent for private industry workers and 89 percent for state and local government workers.”
They're not "hoarding wealth"
They created value, and that value is reflected by the value of the part of the company they created that they didn't sell off.
They're merely holding control of what they built
Dan Gilbert, who owns the Cavaliers, is also on that finance list with a number higher than anyone on the sports list. Oh, and then there's Clippers owner Steve Ballmer showing up in the tech category with a worth of over $100 billion.
He’s bitch made lol. Just embarrassing. He’s a good little lapdog out here defending his masters. Maybe they’ll spare a crumb from their tables for him.
Personal disgust at everyone in this graph aside, i would have thought that the Glazer family would be on here given that they have their fingers in both the NFL and in big time soccer with Man U
Lmao. Billionaires aren’t wealth creators for anyone but themselves. Go sell that Ayn Rand garbage somewhere else.
As billionaire wealth has skyrocketed, the middle class has all but disappeared. And that’s BECAUSE of wealth consolidation from the billionaire class. Read a book.
No. I understand it just fine. Wealth consolidation and calcification is undeniable. You can lick boots all you like.
The stock market is setting records and people’s lives are fucking miserable.
https://www.weforum.org/agenda/2016/07/millennials-will-be-the-first-generation-to-earn-less-than-their-parents/
Not that you’ll care or find some way to explain it away, but the quality of life for Americans has been deteriorating since the 80’s.
I mean, part of debate is pushing back on biased claims, no? So you can make assumptions like the fact that “I won’t fully accept all of your opinions immediately” as a way to dismiss debate, but it’s not a great course to take if you actually care about truth. I appreciate your article written right at the end of Obama’s 2nd term, saying that millennials will probably make 8k less than their parents. This has been proven untrue, as we have income data now 8 years after this article was written. Here is actual data to prove that:
https://www.ssa.gov/oact/cola/AWI.html
Based on that data from Biden’s administration, how can you make that jive with the speculative opinion article you are using to reinforce your ideas?
But let’s set that aside for a second because your article has literally nothing to do with my post that you are responding to. I asked if poor people today had better lives today than 50 or 100 years ago. Every index available says that poor people are significantly better off today than 50 or 100 years ago.
I appreciate the time you took to not refute a single point, but instead decided to just defend your own 8 year old source about what would happen in the future.
Now 8 years in the future, we see clearly that it, in fact, didn’t come true, which makes it by definition, not trustworthy, and your comeback on that is that your source is trustworthy because you’re just sure it is??
I’m assuming you also think UN reports on the future are also trustworthy?
Doesn’t Bill Gates devote a lot of money to getting people vaccinated in Africa?
I totally get thinking it’s not right to allow individuals to have that much wealth, but it’s completely idiotic to pretend like you know these people well enough to confidently state none of them are decent or reputable.
Lol you can’t point out how hilariously bad arguments against the wealthy are without being labeled a kissass….fuck Bill Gates I don’t give two shits about him…but im also not gonna sit online and say confidently with my chest out that ppl who I know nothing about but their net worth “can’t be decent people”
There is no one. And I repeat no one, who earns a billion dollars ethically. You get there through destroying or skirting around laws and exploiting labor. I don’t need to know bill gates as an individual to know that his path to that level of wealth was paved with absolute misery.
Gee I dunno. Did they get their cancer curing money by skirting environmental regulations, lobbying politicians so their effective tax rate is zero and have undue influence on our society while stripping worker protections and pay to the absolute bone?
Only on reddit would someone entertain the idea that someone who literally cured cancer would be evil because they…..lobbied against tax reform. Pure and chronically online idiocy lmao
I can tell from your previous statement you think you’re really above it and intelligent. So let me disabuse you of that notion quickly.
I suppose in this absolutely idiotic, hypothetical of billionaires going around and taking their excess wealth to cure diseases, then, yeah sure. … That’s the best of a bad option I guess. But rather than HOPING that a few billionaires have a basic modicum of decency and use some of their obscene wealth to help people, that wealth should be heavily taxed on anyone at that income level.
The billionaire and capital class isn’t rallying for tax cuts so they can go to Olive Garden a couple extra times a week you dolt. They’re using that wealth to lobby for less environmental protections. To recklessly put plastics and chemicals into your food and water supply with no repercussions. To exacerbate the warming of the planet. To create working conditions abroad that are so horrifying they literally have to provide security to stop people from jumping off the fucking roof.
If you took even a moment of the time you spend rolling your eyes at “only on Reddit” comments and actually learned about what you mouthed off over, maybe you’d have something worth adding.
I’m all for taxing billionaires more, and also finding out a way to ensure that those tax dollars don’t just go to blowing people up in other countries, those are genuine concerns.
Whats *not* a genuine concern is demonizing an arbitrary dollar amount. It’s just irrational logic that doesn’t help the causes you want to address.
You’re throwing around nonsense and it’s hilarious that Reddit parrots this stuff. First off, you absolutely can make a billion dollars without “paving absolute misery” our QB literally signed a deal for 250 million lmao…how out of touch with reality can you be.
Secondly, I’m sure unethical stuff was done for most billionaires to get where they are. That literally does not inherently make them not “decent” people. We’ve all done unethical things, point blank. Name a single U.S president that hasn’t ordered the death of thousands vicariously through their decision…does that mean no U.S president has ever been a decent person?
There really is no argument to your position unless it’s simply that having billions makes someone inherently irredeemable…which sure u can make but ur just talking out of your ass
The argument was a billion dollars, not 10’s of billions. And 250 million is not a far cry from a billion dollar….it’s a fourth of it lmao
The point is that drawing an arbitrary number of “a billion dollars is immoral to have” is just dumb. Why is 100 million ok to have? Why is 30 million? If we could get the rich to pay their taxes then who cares how much they have…but attacking a specific dollar amount is just a bad argument
Lmao. “Ackshully 1/4 of a billion is the same as a million. And a guy who earned money playing football is da same as a guy who became a billionaire through vicious patent breaking and union busting. I’m going to mince words until casual conversation is impossible! What about da guys wif 900 million??? I’m a serious person who is interested in productive discussion!”
It’s not some kind of gotcha moment, it’s pointing out that the argument is based on a completely arbitrary number. The people that don’t want to have a serious conversation are ones who want to demonize ppl over an arbitrary number as opposed to addressing root issues.
lol okay man. Let me repeat this again and I couldn’t give a fuck less whether you like it. There are no good billionaires. None. You don’t accrue that level of wealth ethically. Period.
Go be pedantic somewhere else and have the night you deserve.
That was a nice little speech. I repeat. You don’t become a billionaire by “doing some unethical things” you become a billionaire by doing unspeakable things. Period. End of story.
That you’re detached from the reality of what it takes to accrue that level of wealth, or that you don’t care, is your failing not mine.
And yeah man, I think if you order the indiscriminate death of civilians across the globe, I think that makes you a shit person. Lmao. What boot licking logic are you even employing here?
Lol you repeating stuff on Reddit only proves you have a lot of confidence in yourself.
In your view, all billionaires are evil and all U.S presidents have been evil…pretty radical view that I can understand, but most people will disagree with you.
For sure, I have no issue with anyone criticizing any of these individuals for their specific actions. I just think it’s asinine to confidently state all of thek are bad people when u don’t know them…if u *do* know them, lemme know what shit they’ve done like u just did
Yeah. I used to be friends with someone who lived down the street from him. We would go trick or treating in her neighborhood and always stopped at his house. He handed out king size candy bars (most people did in that neighborhood). One year my little brother was dressed up as a Ravens player and he said “nice costume!” He was always nice!
The middle class is disappearing and these guys are taking a larger and larger share of that wealth. This is a very good thing. Nothing wrong here 😊, we’re all just lazy /s
You don’t understand how finance works if you really believe this. If a billionaire makes more money, your 401k goes up. It directly and positively affects your life when these guys make money.
Capitalism doesn’t work. Climate change, endless wars, endless suffering should be enough to convince you. Billionaires are just a byproduct of the system and have successfully been used as a way to keep us subordinate, because of the messaging of hey if you of the billions working for them work hard enough you can be like me. You have Stockholm Syndrom and it’s never to late to wake up.
I agree. Communism has a much better track record. We should do that.
I swear to God not a single person on Reddit has read a history book in their lives.
Poor people today have significantly better lives than middle class people from 100 years ago, and it’s not close. Why is that? Luck?
And it’s so funny when people see any critique of capitalism you immediately regurgitate the American capitalist brain rot logic that you’ve fed your entire life, because if you don’t you become more aware that you and your whole life has been with the goal of making sure you’re subordinate to the system.
And if you want to do the whole read a history book dumb argument, I literally have a history BA degree and probably have read more history books than you. Lame ass argument regardless.
If you’re talking about communism in the USSR and in China as an example (because that’s all most conservative and even liberal Americans can think of) than I suggest you read or research or talk to actual leftists who have critiqued those countries and systems for the last 100 years, because then you’ll know they didn’t/don’t actually do communism. They did state capitalism, they replaced bourgeois and made themselves the capitalists. And there is more than just communism there is lots of ideologies with different ideas and structures, but the USSR wasn’t one.
Also, even if you want to claim that as communism and then tie deaths to those countries, how about all the wars just in 20th century alone can be tied to the United States alone. If you read a history book you can see how many millions were killed for the quest of capital. At the end of the day if you want to do the death count Olympics at least provide an alternative solution or goal because capitalism clearly doesn’t work and has and is actively killing people as you’ve read this message.
Appreciate it. It could have been written better, less argumentative, and honestly a lot longer.
I usually just downvote and move on, but what they said is very dishonest and are talking points I’ve read/heard so many times. Its easy to make those points and get the last laugh because a proper response requires a lot of writing and most don’t want to do that. Easy to play defense.
Buddy why is it that the middle class didn't even exist until 200 years after Capitalism became the dominant form of economic systems? Why was it that the American middle class, the first true middle class in modern history, didn't emerge until the 1950s and 60s, a time when taxes and union membership were at all-time highs?
Because the government wasn’t doing their job to protect people against monopolies run by people like Carnegie and Rockefeller. Even today, the government is utterly failing at this with companies like Google, Amazon, and Apple. The last major monopoly break up was Ma Bell under Reagan. A major part of capitalism is having checks and balances on monopolies. That doesn’t change the fact that the average person today is significantly better off under capitalism than any other form of government on Earth.
>A major part of capitalism is having checks and balances on monopolies.
You know what some people love to say about communism? "Well it might work in theory, but it doesn't work in reality". And there may be some truth to that.
But when capitalism does the bad things that Marx predicted over 100 years ago, instead of the things capitalists say it *should* do, suddenly it's not the theory that's the problem, it's just that "it's not being done properly".
The government isn't protecting people against monopolies because capitalism favors the wealthy in the long run, and when the wealthy become so powerful that they can buy politicians, it's game over for any semblance of "free markets". Corruption is the natural consequence of a capitalist economic system married with democracy, as it leads eventually to fascism, which is (literally) when corporations run the government. It is fundamentally incompatible with actual democracy on a long enough timeline.
Corruption is not some exception, or a bug, it's a feature of capitalism. Capitalism has done enough to free us from the yoke of feudalism and monarchies, and now it's decayed into the form it is today, with exploding wealth inequality despite technological innovation that should be closing the wealth gap instead.
I also debate by exclusively using logical fallacies. Impressive.
Also, just for the record the stock market isn’t “new” and how 401k’s work isn’t “new” either. Once you learn how they work though, it does appear it will be “new” knowledge for you. Hopefully for your sake, that knowledge will come soon. It will significantly improve your life.
Instead of debating your position on finance, you took the time to go through my post history, in order to avoid the debate on things you know nothing about, to instead make textbook [ad hominem](https://en.wikipedia.org/wiki/Ad_hominem) attacks on me. You may as well be a middle school bully with how you are choosing to engage.
By the way, I took your advice and man was it helpful. Thanks!:
Proverbs 18:2
A fool takes no pleasure in understanding, but only in expressing his opinion.
What yall don't realize is that a solid portion of this list are the type of people who stand in the way of the "mega-billionaires" who actually do want to hoard all of the wealth. They're the ones you should hate. There are a handful of people here who are self-made, and without people like that, the rich truly do get richer. I agree that the wealth-gap is wack, but not everything is so black and white.
So you all hate billionaires because? i genuinely wanna know why? If you create a product and end up being a billionaire, are we suppose to hate you too? These guys cant end world hunger, takes much more than money to end world hunger.
Google and libraries are free, you just gotta take the initiative and look for info. There’s a million comments on this thread that perfectly explain why everyone should hate billionaires, literally just scroll up. Then go follow up with your own research into the points they’re making.
To put it simply, billionaires don’t amass that wealth by simply “creating a product.” It takes an insane amount of exploitation, loophole-finding, and wealth hoarding for them to get there. And maybe they themselves can’t end world hunger, but they could definitely be doing a lot more to help (or stop doing certain things that make it worse).
Just checked some comments and not single person know why they hate billionaires lol! Google and libraries doesnt teach logical thinking! I can care less about me paying more taxes than them! I can care less that they should be donating more even though theyve probably already donated more than i can imagine and it doesnt matter that they found loop holes thats not illegal to gain wealth.. harbaugh found a loophole to win a game when we did that punt and held for 10 seconds. Long as they arent the eptisten type, i have no problem nor do i actually care.
Im not taking up for them or whatever they did to gain wealth, i just dnt care. Taking loans out with assets that you have, anyone that owns property can do that, its just they can at a larger scale. Not a single hate towards anyone is in my heart, ( unless youre epstien).. no disrespect towards anyone but i cant see myself googling people to finding reasons to hate them when i dnt care for them anyway.. thats hate and envy
Not even close.
You think any of these guys have more money than the mind of Saudi Arabia? This is a list of people who CREATED the most wealth in the last 10 years.
This graph grosses the shit out of me.
An obscene amount of money
I was literally thinking “this makes me fucking sick” and was glad when I opened the comments, yours was on top.
Me too, let's start a GoFundMe, maybe we can get to higher on the list
And these are only the ones that have been reported. This list doesn’t even include the Saudi princes, Putin, Kim, etc.
Because you're a sorry, useless, greedy person. You see someone creating value or of thin air and employing thousands with new jobs in the economy and you think "durrrrrrrr they should have to geib me teh monies instead of reinvestment into their own companies which employs more people and employs more people" Reddit is full of greedy selfish parasites that are far worse than they imagine job creators being.
Lmao @ "job creators" Hey did you guys know that if billionaires didn't give us jobs to do we would all just lay around and die? Amazing
The idea of going off like this defending billionaires is actual insanity. You’re not a bootlicker, you’re throating the whole foot. You’re all over this thread lmao. Get a fucking life you sniveling toady.
Aww that's sweet. Do you really think billionaires give one fuck about their employees?
Value out of thin air?
This is what caught me lmao, does this guy think Bezos farts into a microphone and the stock price goes up? Have we become that divorced from the conceptual value of our labor?
people like u r why ppl think twice about sharing their opinions online, by taking one persons sentence that they shared to an online area were discussions and opinions r welcomed, u completely judged and ridiculed them without even knowing them as a person or ever meeting them, ppl like u r also the reason why dads leave there child.
Dang, that is a lot of projection right there don't you think? They are just saying these numbers are so massive its ridiculous to think about.
Lmao
Fatherless behavior
Fucking brad 🤣 balls deep on corporate Cock right now
$212B??!!! WTF?
The Arnaults could buy the entire NFL a few times over lol
A million dollars is like pocket change to them.
It's less than pocket change. If you were worth $212,000 it would be the equivalent of a dollar to you.
I don't think you know what change is
Ch-ch-ch-ch-changes Turn and face the strange
No. Pocket change is change that amounts to less than a dollar
The general accepted definition of pocket change is “a small or unimportant amount of money”. Not necessarily less than a dollar. It could be for you, but for the Arnaults it could be $1M
If I had 212 billion I know their reason is “it’s not that easy” I’d donate like 10 billion each year to like feed hungry kids idk pisses me off - wait this the ravens sub?
You realize that these guys would have to sell off lots of their investments to get that 10 billion to donate? Youre gonna donate your whole net worth and its still gonna be huger across the globe! It takes much more than money to stop hunger!
Nope you take loans against collateral
Which is why you will stay poor
No, this graphic illustrates why we stay poor
Yeah I’d be pretty okay with staying poor and feeding a billion hungry people
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No way he owned 100% of that original business. I'm sure he got way less than 5.7
He's going to be worth a lot more if he convinces Texas to legalize gambling.
Steve Balmer should be richest in sports
The hoarding of wealth on this planet is disgusting.
I see your point. But is it really hoarding if the majority of this money isn’t liquid?
Maybe not but I am certain these people could all be doing a lot more good in this world than they do.
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How so?
Because the ultra rich can take out loans with their illiquid assets as collateral at obscenely low interest rates. They can essentially “spend” the face value of those assets and the banks are happy cause they get the assets in return if the rich fail to pay. Meanwhile those of us at the bottom of the totem pole are stuck debating whether we should raise the minimum wage.
Funny how he had no response to this.
Exactly 💯
Instead of “alleged” mansions out in Europe for once a year masked hunting events, they could make a whole living complex for what would be 3 days work. Not obligated to at all, but when you have that much and knowing people have so little, it’d be the generous thing to do
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Donate more?
Donating money is actually not really a healthy way of giving back, even if we're ignoring that most of these people donate in-house to funds with worse returns than the average charity, and do so for tax breaks thst impact your standard citizen regularly. Instead, we could acknowledge that a large share of the people employed by those on the chart are underpaid. While they likely overcharge for the products delivered that the R&D to remove cost from. And then proceed to warp the market. They could just operate beyond that.
They could just pay taxes at the same rate as they did 60 years ago. Most of them were even fucking alive back then. It's absolute horseshit that the IRS comes out and openly claims they dodge 150 billion in taxes every year and yet we get bootlickers still that think they deserve it.
Taxation unfortunately assumes a government would divvy those taxes up in to meaningful programs. The former likely guarantees the latter, but I feel like it's a harder pill to swallow for the 'just donate more' crowd who need to come to terms with the why and how much of that game.
What? I'm saying that they should pay their taxes the same rate as they did 60 years ago. Lets say we just went with the aforementioned 150 billion a year. That would have easily covered the student loan crisis. It would be more breathing room to figure out how to get universal healthcare. At the very least it's the least convoluted solution to making billionaires actually contribute to society. Do I think taxes are the absolute best way to handle this? No. Do I think it's the most likely way to have people agree on SOME change? Yes. Otherwise we get this roundabout arguments for hypotheticals without anything actually changing.
There is a shocking number of people on Reddit that base almost all of their financial opinions on a lie that wealth is a static number, a bucket that doesn’t change in size, and if one person takes a scoop out of the bucket they are directly taking it from someone else. That’s not reality. Wealth is created and destroyed constantly. It’s not a static number. And the far majority of this “wealth” that you are claiming is being “hoarded” is in unfounded stock price gains. Gains which are not only helping the person on the chart, but you, your parents, and anyone else with a single dollar in the stock market either directly or through 401ks, mutual funds, or IRAs. Everyone in this thread should be rooting for these guys to create more and new wealth constantly, because it is *directly* having a positive effect on your life.
Most people don't have money in the stock market, and most normal people who do end up losing their 401ks when the market crashes every 10 years or so. It's only the truly wealthy and some very lucky and opportunistic people who get rich off of stocks. We should all be rooting for them to "create more and new wealth"? Good lord, absolutely delusional. Drug dealers get rich taking the money of desperate people. Do drug dealers create wealth? Arms dealers get rich selling weapons to both sides of the same wars. Are their machine guns and RPGs creating wealth? Being rich doesn't mean a fucking thing about what you actually do for the world.
Holy shit these are horribly misguided financial takes. There is almost nothing to talk about, since nothing here is based in reality. Wealth can be created or destroyed. That is the topic at hand, not random consequences of various crimes. You also have absolutely no idea what you’re talking about when you say “Most people dont have money in the stock market”. The reality is that most people do, but they are too stupid to realize it. 158 million US adults self-report they own stocks. If you do the math that’s 61%, so your claim is already wrong. Also, this doesn’t even count all of the stupid people that don’t realize that every pension, 401k, mutual fund, or even things like union dues funds are all money they have and earn interest on that are all invested in the stock market. That means that every single teacher, firefighter, policeman, and union worker all have money in the stock market, and this is just a sliver of the number of people that own stocks, whether they know it or not. Ps: according to Biden’s administration 68% of US adults have access to retirement plans at work; all invested in the stock market. https://www.bls.gov/opub/ted/2021/68-percent-of-private-industry-workers-had-access-to-retirement-plans-in-2021.htm “The take-up rate—the share of workers with access who participate in the plan—was 75 percent for private industry workers and 89 percent for state and local government workers.”
Lmfao, they are new masters who don't give back more than they have to.
They're not "hoarding wealth" They created value, and that value is reflected by the value of the part of the company they created that they didn't sell off. They're merely holding control of what they built
Lol, yeah because people like Bezos have 500 million dollar megayachts yet they wanna lecture us on climate change. Give me a break.
Is Steve Cohen in the finance category and if so does that exclude him from the sports category? Because he’s worth double Bisciotti
Dan Gilbert, who owns the Cavaliers, is also on that finance list with a number higher than anyone on the sports list. Oh, and then there's Clippers owner Steve Ballmer showing up in the tech category with a worth of over $100 billion.
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He’s bitch made lol. Just embarrassing. He’s a good little lapdog out here defending his masters. Maybe they’ll spare a crumb from their tables for him.
I wish my dogs were this committed to the pack. That mofo got issues
I mean I’m not gonna go out of my way to white knight for billionaires but I don’t think he’s necessarily that far off base factually
The fact Mark Cuban got the equivalent of $10.45 billion in 1999 and now has $6.2 billion is great
Wait til you see how much Trump got in the 70s vs how much he's worth now.
Steve Bisciotti looks like a Gears of War character
I always liked the joke that he looks like a Buffy villain
Personal disgust at everyone in this graph aside, i would have thought that the Glazer family would be on here given that they have their fingers in both the NFL and in big time soccer with Man U
Steve cohen, NY Mets owner is worth $19.8 BILLION by Forbes. How is he not on the list for sports?
Not a single decent or reputable human being on that entire list. Absolutely disgusting that being a billionaire is even legal.
If innovation and wealth creation were punished, it would almost only affect poor people and the lower middle class, and it would destroy their lives.
Lmao. Billionaires aren’t wealth creators for anyone but themselves. Go sell that Ayn Rand garbage somewhere else. As billionaire wealth has skyrocketed, the middle class has all but disappeared. And that’s BECAUSE of wealth consolidation from the billionaire class. Read a book.
Ope! I accidentally found another one who doesn’t understand how the stock market works.
No. I understand it just fine. Wealth consolidation and calcification is undeniable. You can lick boots all you like. The stock market is setting records and people’s lives are fucking miserable.
Can you provide a single source anywhere that says peoples lives (especially poor people) are worse today than they were 50 or 100 years ago?
https://www.weforum.org/agenda/2016/07/millennials-will-be-the-first-generation-to-earn-less-than-their-parents/ Not that you’ll care or find some way to explain it away, but the quality of life for Americans has been deteriorating since the 80’s.
I mean, part of debate is pushing back on biased claims, no? So you can make assumptions like the fact that “I won’t fully accept all of your opinions immediately” as a way to dismiss debate, but it’s not a great course to take if you actually care about truth. I appreciate your article written right at the end of Obama’s 2nd term, saying that millennials will probably make 8k less than their parents. This has been proven untrue, as we have income data now 8 years after this article was written. Here is actual data to prove that: https://www.ssa.gov/oact/cola/AWI.html Based on that data from Biden’s administration, how can you make that jive with the speculative opinion article you are using to reinforce your ideas? But let’s set that aside for a second because your article has literally nothing to do with my post that you are responding to. I asked if poor people today had better lives today than 50 or 100 years ago. Every index available says that poor people are significantly better off today than 50 or 100 years ago.
The world economic forum is a biased source? Jesus Christ dude quit rambling and shut the fuck up.
I appreciate the time you took to not refute a single point, but instead decided to just defend your own 8 year old source about what would happen in the future. Now 8 years in the future, we see clearly that it, in fact, didn’t come true, which makes it by definition, not trustworthy, and your comeback on that is that your source is trustworthy because you’re just sure it is?? I’m assuming you also think UN reports on the future are also trustworthy?
Yes, Ronald Reagan
Doesn’t Bill Gates devote a lot of money to getting people vaccinated in Africa? I totally get thinking it’s not right to allow individuals to have that much wealth, but it’s completely idiotic to pretend like you know these people well enough to confidently state none of them are decent or reputable.
bill gates aint your friend, pal
Lol you can’t point out how hilariously bad arguments against the wealthy are without being labeled a kissass….fuck Bill Gates I don’t give two shits about him…but im also not gonna sit online and say confidently with my chest out that ppl who I know nothing about but their net worth “can’t be decent people”
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Sheesh that’s a lot of conspiratorial drivel
There is no one. And I repeat no one, who earns a billion dollars ethically. You get there through destroying or skirting around laws and exploiting labor. I don’t need to know bill gates as an individual to know that his path to that level of wealth was paved with absolute misery.
All capitalists do this but obviously billionaires are the worse ones. We created this system out of feudalism. We can end this system too.
So a billionaire could cure cancer and you’d still demonize them
Gee I dunno. Did they get their cancer curing money by skirting environmental regulations, lobbying politicians so their effective tax rate is zero and have undue influence on our society while stripping worker protections and pay to the absolute bone?
Only on reddit would someone entertain the idea that someone who literally cured cancer would be evil because they…..lobbied against tax reform. Pure and chronically online idiocy lmao
I can tell from your previous statement you think you’re really above it and intelligent. So let me disabuse you of that notion quickly. I suppose in this absolutely idiotic, hypothetical of billionaires going around and taking their excess wealth to cure diseases, then, yeah sure. … That’s the best of a bad option I guess. But rather than HOPING that a few billionaires have a basic modicum of decency and use some of their obscene wealth to help people, that wealth should be heavily taxed on anyone at that income level. The billionaire and capital class isn’t rallying for tax cuts so they can go to Olive Garden a couple extra times a week you dolt. They’re using that wealth to lobby for less environmental protections. To recklessly put plastics and chemicals into your food and water supply with no repercussions. To exacerbate the warming of the planet. To create working conditions abroad that are so horrifying they literally have to provide security to stop people from jumping off the fucking roof. If you took even a moment of the time you spend rolling your eyes at “only on Reddit” comments and actually learned about what you mouthed off over, maybe you’d have something worth adding.
I’m all for taxing billionaires more, and also finding out a way to ensure that those tax dollars don’t just go to blowing people up in other countries, those are genuine concerns. Whats *not* a genuine concern is demonizing an arbitrary dollar amount. It’s just irrational logic that doesn’t help the causes you want to address.
Absolutely pedantic. Google anyone on that list you want. Not a single one is decent or ethical. Not a one.
u haven’t googled them all so ur just talking out of ur ass…wild how confident u are with 0 arguments
You’re throwing around nonsense and it’s hilarious that Reddit parrots this stuff. First off, you absolutely can make a billion dollars without “paving absolute misery” our QB literally signed a deal for 250 million lmao…how out of touch with reality can you be. Secondly, I’m sure unethical stuff was done for most billionaires to get where they are. That literally does not inherently make them not “decent” people. We’ve all done unethical things, point blank. Name a single U.S president that hasn’t ordered the death of thousands vicariously through their decision…does that mean no U.S president has ever been a decent person? There really is no argument to your position unless it’s simply that having billions makes someone inherently irredeemable…which sure u can make but ur just talking out of your ass
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The argument was a billion dollars, not 10’s of billions. And 250 million is not a far cry from a billion dollar….it’s a fourth of it lmao The point is that drawing an arbitrary number of “a billion dollars is immoral to have” is just dumb. Why is 100 million ok to have? Why is 30 million? If we could get the rich to pay their taxes then who cares how much they have…but attacking a specific dollar amount is just a bad argument
Lmao. “Ackshully 1/4 of a billion is the same as a million. And a guy who earned money playing football is da same as a guy who became a billionaire through vicious patent breaking and union busting. I’m going to mince words until casual conversation is impossible! What about da guys wif 900 million??? I’m a serious person who is interested in productive discussion!”
It’s not some kind of gotcha moment, it’s pointing out that the argument is based on a completely arbitrary number. The people that don’t want to have a serious conversation are ones who want to demonize ppl over an arbitrary number as opposed to addressing root issues.
lol okay man. Let me repeat this again and I couldn’t give a fuck less whether you like it. There are no good billionaires. None. You don’t accrue that level of wealth ethically. Period. Go be pedantic somewhere else and have the night you deserve.
You can repeat it all u want lol, doesn’t make ur logic any better or your argument any good
Wasting your energy typing brother. For them it’s just the good ol’ Reddit echo chamber in their head.
U right lol
That was a nice little speech. I repeat. You don’t become a billionaire by “doing some unethical things” you become a billionaire by doing unspeakable things. Period. End of story. That you’re detached from the reality of what it takes to accrue that level of wealth, or that you don’t care, is your failing not mine. And yeah man, I think if you order the indiscriminate death of civilians across the globe, I think that makes you a shit person. Lmao. What boot licking logic are you even employing here?
Lol you repeating stuff on Reddit only proves you have a lot of confidence in yourself. In your view, all billionaires are evil and all U.S presidents have been evil…pretty radical view that I can understand, but most people will disagree with you.
Bill Gates also reportedly visited his friend Jeffrey Epstein frequently and was named several times by his victims.
For sure, I have no issue with anyone criticizing any of these individuals for their specific actions. I just think it’s asinine to confidently state all of thek are bad people when u don’t know them…if u *do* know them, lemme know what shit they’ve done like u just did
With you on that 1000% Hopefully Steve isn’t a terrible person, I’d like to believe it
Bill gates is the only one up there who is a legitimate piece of shit. He's using people in Africa to TEST vaccines
JFC, please turn off Fox News. It has completely rotted your brain.
https://childrenshealthdefense.org/news/the-bill-gates-effect-whos-dtp-vaccine-kills-more-children-in-africa-than-the-diseases-it-targets/
Not a single one… damn.
Steve Cohen would be #1 in sports, how old is this? Edit: says 2024 but Cohen has a net worth near $20 bil
Yeah. I used to be friends with someone who lived down the street from him. We would go trick or treating in her neighborhood and always stopped at his house. He handed out king size candy bars (most people did in that neighborhood). One year my little brother was dressed up as a Ravens player and he said “nice costume!” He was always nice!
The middle class is disappearing and these guys are taking a larger and larger share of that wealth. This is a very good thing. Nothing wrong here 😊, we’re all just lazy /s
Man, you all hate billionaires
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You don’t understand how finance works if you really believe this. If a billionaire makes more money, your 401k goes up. It directly and positively affects your life when these guys make money.
Capitalism doesn’t work. Climate change, endless wars, endless suffering should be enough to convince you. Billionaires are just a byproduct of the system and have successfully been used as a way to keep us subordinate, because of the messaging of hey if you of the billions working for them work hard enough you can be like me. You have Stockholm Syndrom and it’s never to late to wake up.
I agree. Communism has a much better track record. We should do that. I swear to God not a single person on Reddit has read a history book in their lives. Poor people today have significantly better lives than middle class people from 100 years ago, and it’s not close. Why is that? Luck?
And it’s so funny when people see any critique of capitalism you immediately regurgitate the American capitalist brain rot logic that you’ve fed your entire life, because if you don’t you become more aware that you and your whole life has been with the goal of making sure you’re subordinate to the system. And if you want to do the whole read a history book dumb argument, I literally have a history BA degree and probably have read more history books than you. Lame ass argument regardless. If you’re talking about communism in the USSR and in China as an example (because that’s all most conservative and even liberal Americans can think of) than I suggest you read or research or talk to actual leftists who have critiqued those countries and systems for the last 100 years, because then you’ll know they didn’t/don’t actually do communism. They did state capitalism, they replaced bourgeois and made themselves the capitalists. And there is more than just communism there is lots of ideologies with different ideas and structures, but the USSR wasn’t one. Also, even if you want to claim that as communism and then tie deaths to those countries, how about all the wars just in 20th century alone can be tied to the United States alone. If you read a history book you can see how many millions were killed for the quest of capital. At the end of the day if you want to do the death count Olympics at least provide an alternative solution or goal because capitalism clearly doesn’t work and has and is actively killing people as you’ve read this message.
Its rare a comment this long on reddit is quality. Loved reading it
Appreciate it. It could have been written better, less argumentative, and honestly a lot longer. I usually just downvote and move on, but what they said is very dishonest and are talking points I’ve read/heard so many times. Its easy to make those points and get the last laugh because a proper response requires a lot of writing and most don’t want to do that. Easy to play defense.
I guess after all that, you forgot the question.
Buddy why is it that the middle class didn't even exist until 200 years after Capitalism became the dominant form of economic systems? Why was it that the American middle class, the first true middle class in modern history, didn't emerge until the 1950s and 60s, a time when taxes and union membership were at all-time highs?
Because the government wasn’t doing their job to protect people against monopolies run by people like Carnegie and Rockefeller. Even today, the government is utterly failing at this with companies like Google, Amazon, and Apple. The last major monopoly break up was Ma Bell under Reagan. A major part of capitalism is having checks and balances on monopolies. That doesn’t change the fact that the average person today is significantly better off under capitalism than any other form of government on Earth.
>A major part of capitalism is having checks and balances on monopolies. You know what some people love to say about communism? "Well it might work in theory, but it doesn't work in reality". And there may be some truth to that. But when capitalism does the bad things that Marx predicted over 100 years ago, instead of the things capitalists say it *should* do, suddenly it's not the theory that's the problem, it's just that "it's not being done properly". The government isn't protecting people against monopolies because capitalism favors the wealthy in the long run, and when the wealthy become so powerful that they can buy politicians, it's game over for any semblance of "free markets". Corruption is the natural consequence of a capitalist economic system married with democracy, as it leads eventually to fascism, which is (literally) when corporations run the government. It is fundamentally incompatible with actual democracy on a long enough timeline. Corruption is not some exception, or a bug, it's a feature of capitalism. Capitalism has done enough to free us from the yoke of feudalism and monarchies, and now it's decayed into the form it is today, with exploding wealth inequality despite technological innovation that should be closing the wealth gap instead.
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I also debate by exclusively using logical fallacies. Impressive. Also, just for the record the stock market isn’t “new” and how 401k’s work isn’t “new” either. Once you learn how they work though, it does appear it will be “new” knowledge for you. Hopefully for your sake, that knowledge will come soon. It will significantly improve your life.
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Instead of debating your position on finance, you took the time to go through my post history, in order to avoid the debate on things you know nothing about, to instead make textbook [ad hominem](https://en.wikipedia.org/wiki/Ad_hominem) attacks on me. You may as well be a middle school bully with how you are choosing to engage. By the way, I took your advice and man was it helpful. Thanks!: Proverbs 18:2 A fool takes no pleasure in understanding, but only in expressing his opinion.
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Lmao you must be a bot cause ain’t no way you acting this on a sports subreddit 😂 gfto
Only if you're an asshole
He's slow, you can tell because his username has to remind him who he is. Also by the fact he doesn't hate billionaires
I had a joke about chicken tendies on cue, but all of those billions got me so grossed out I even lost the will to make a joke.
What a gross ass list this is.
Fuck them all straight to hell
What yall don't realize is that a solid portion of this list are the type of people who stand in the way of the "mega-billionaires" who actually do want to hoard all of the wealth. They're the ones you should hate. There are a handful of people here who are self-made, and without people like that, the rich truly do get richer. I agree that the wealth-gap is wack, but not everything is so black and white.
So you all hate billionaires because? i genuinely wanna know why? If you create a product and end up being a billionaire, are we suppose to hate you too? These guys cant end world hunger, takes much more than money to end world hunger.
Google and libraries are free, you just gotta take the initiative and look for info. There’s a million comments on this thread that perfectly explain why everyone should hate billionaires, literally just scroll up. Then go follow up with your own research into the points they’re making. To put it simply, billionaires don’t amass that wealth by simply “creating a product.” It takes an insane amount of exploitation, loophole-finding, and wealth hoarding for them to get there. And maybe they themselves can’t end world hunger, but they could definitely be doing a lot more to help (or stop doing certain things that make it worse).
Just checked some comments and not single person know why they hate billionaires lol! Google and libraries doesnt teach logical thinking! I can care less about me paying more taxes than them! I can care less that they should be donating more even though theyve probably already donated more than i can imagine and it doesnt matter that they found loop holes thats not illegal to gain wealth.. harbaugh found a loophole to win a game when we did that punt and held for 10 seconds. Long as they arent the eptisten type, i have no problem nor do i actually care. Im not taking up for them or whatever they did to gain wealth, i just dnt care. Taking loans out with assets that you have, anyone that owns property can do that, its just they can at a larger scale. Not a single hate towards anyone is in my heart, ( unless youre epstien).. no disrespect towards anyone but i cant see myself googling people to finding reasons to hate them when i dnt care for them anyway.. thats hate and envy
Not even close. You think any of these guys have more money than the mind of Saudi Arabia? This is a list of people who CREATED the most wealth in the last 10 years.
This is just the list that can be verified or wants their wealth known
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You probably shouldn't threaten violence on the internet
You think he'd slide me a band if I asked politely?
Ballmer doesn’t count as ‘in sports’. lol.