We see the The Giving Pledge inspired by by Warren Buffett and Bill Gates, donating . Their pathological GREED for money & power is a fatal disease for the rest of us. The rich didn't earn their wealth — they're just holding on to it for us. Money that millionaires have invested in places where it will grow (mutual funds, stocks, retirement accounts) is their most valuable asset. Indeed, billionaires do not deserve the large population that makes their fortunes possible. The Common Sense Leadership Fund, a dark money group primarily funded by one anonymous donor, is spending up to $10 million dollars in dark money ads against 14 House Democrats to lie to voters in an effort to protect tax loopholes for billionaires and corporations. We just want them to pay their part of belonging to society. Nearly all billionaires with few exceptions deserve to be brutally killed, their children deserve to be torture to death and their women and daughters raped with bestiality until they are unconscious. The super-rich and their defenders are generally not impressed by this type of reasoning. Majority of those bastards wanting to escape have robbed pillaged n raped this planet n the ppls to gain their wealth! Many people believe that even the wealth of billionaires should be taxed, as they get away with hoarding a lot of money and not sharing it with society. Billionaires aren't to blame for these problems, though, at least not on their own. Funding organisations such as the Bill and Melinda Gates Foundation, the Clinton Foundation and… But is it reasonable to pass blanket judgments of this kind, either condemning or praising the super-rich as a class? Billionaires Spending Their Own Money To Go to Space Has Progressives Howling for a Wealth Tax Private space companies' efforts are a boost to the government's own space programs, in . WE DO NOT NEED BILLIONAIRES! There is no such thing as "hoarding wealth." It is not healthy to believe that we are entitled to whatever we want. World's Billionaires. Nor do they deserve the political power they use to protect and expand their rent-seeking behavior. In fact, the democratic party that holds power in the US at the moment plans to introduce a wealth tax for millionaires and billionaires. Now copy that and try pasting it in notepad 100 times to make a billion, you'll probably get bored, but you'll quickly understand just how much money these billionaires actually have, it's ludicrous. News Americas, NEW YORK, NY, Fri. Oct. 18, 2019: This may not be good for keeping the attention of my readers but …. Space. I wish I can burn all their worthless money, their houses, their cars and themselves too. They work way to hard not to get paid like they do. Only 6% of those surveyed earned their money from inheritance alone. They argue that we might debate whether these consequences are all so bad, and that, in any case, they could be tackled in different ways - eg by regulating lobbying or introducing ecological taxation. The more this global economy grows, the richer our billionaires get. Most Americans believe billionaires don't intend harm, earn their wealth and, on the whole, benefit society. The arguments that billionaires deserve all their money vs billionaires are inherently exploitative have been the main focal points of this discussion. Billionaires don't build their billions paycheck by paycheck. They do. money - contributions to the welfare of others by financially wealthy people don't merit . Indeed, billionaires do not deserve the large population that makes their fortunes possible. I'm not going to say that billionaires don't deserve the money they've made, but to have that much money and act the way they do is absurd — their meek donations, unethical business practices and capitalistic ideals need to be criticized by the public more often. Meanwhile, many ultra-wealthy people "use their money to make money," he says—an exciting, status . Funding organisations such as the Bill and Melinda Gates Foundation, the Clinton Foundation and… Second, they say a broken tax system unfairly subsidizes wealthy donors compared with everyone else, giving them even more money to use in deciding how to eradicate disease or clean up the . A dark money group is spreading lies to protect tax breaks for their wealthy donors. And they may not deserve their money, but allowing billionaires to millionaires encourages lots of entrepreneurs that change and innovate the country. The effects of billionaire philanthropy are overstated "If all the billionaires were in fact giving all their money away to charity there'd be no billionaire wealth to tax, and thus no wealth tax debate except in a totally theoretical sense. Billionaires go to work every day even though they do not need to because they love chasing their next success. The rich didn't earn their wealth — they're just holding on to it for us. Billionaires aren't the super inspirational leaders of capitalism. I have seen arguments to the effect of billionaires don't deserve their wealth because they "didn't earn it." Further, because a large chunk of them inherited the money, and all the rest of them earned it on the backs of labor, and that labor is the true generator of value and wealth and is entitled to . The millionaires and billionaires themselves, are members of an exclusive club, and to quote George Carlin, "you ain't in it". . No one wants to take all the money from the super rich. The more this global economy grows, the richer our billionaires get. All of us have calculated a number . Billionaires have a net positive effect on humanity. from the Pandora Papers that deserve primary attention. Two billionaires explain why they think they know better how to spend their money than you do. Grand fortune comes from the control the rich hold over assets. They deserve to live comfortable and even pass their wealth on their next generations. Going after the uber-rich is consistent with Labour's ongoing efforts to turn the 2019 vote into a referendum on elites . CMV: Billionaires deserve their net worth. Other millionaires simply luck into their fortunes. They're actually a nasty by-product of financial market deregulation and tax breaks for the wealthy. Yeah. Billionaires deserve their wealth. There are over 2,000 billionaires in the world and every single one of them is richer than they deserve. All these comments feed the most basic of rationales for grand fortunes: The wealthy, we're told, work hard for their money. On top of all these, billionaires do deserve to have some fun with their money. become so much a part of the political landscape that they deserve a "Jeopardy!" category all . But do people generally think Bezos, and other billionaires and multimillionaires, deserve to be that wealthy? it is assumed that the poor must have done something to deserve their misfortune. . Overall, pro athletes deserve the money they get. But grand fortune has never come from the actual labor outrageously wealthy people may do. The free market will never be fair, but if we stop associating money with 'worth', maybe the workers who make society better will receive a bit more of the respect they deserve. Some Americans even think billionaires deserve our respect. Answer (1 of 9): In my opinion, Yes. The idea that billionaires 'deserve' their vast fortunes is a ridiculous and destructive myth. But more fundamentally, they object to the moral force of these . By including a billionaires income tax in the Build Back Better Act, the United States can help rebuild our communities by putting more West Virginians to work and with more money in their pockets . The psychological stress placed upon athletes is overwhelming. Quoting: Anonymous Coward 39963644. He's committed $10 billion to fight climate change. Indeed, billionaires do not deserve the large population that makes their fortunes possible. Management Professor Shai Davidai researches the idea of "deservingness" on the perception of wealth, and examines the mental calculations the public make to determine their view of a rich and successful person. Whether it's a $1.9 trillion relief plan, a $2 trillion infrastructure bill, half a million COVID-19 deaths in the U.S. or 1.5 million cicadas per acre emerging from the ground this spring, big . But that's obviously not the actual situation." — Vox co-founder Matthew Yglesias 69% earned their wealth mostly by trading time and . In fact, billionaires are DESTROYING America and the world. Roman Abramovich bought himself a football team and sometimes has sushi delivered across the continent even if it means paying almost $63,000 for just one order. Here is the answer …. Most would agree that we all deserve to live in a society where we are given what we deserve, are free, and have the capacity to be creative and reach our potential. Either by birthright or happenstance, these people have hardly worked for the money they possess and can only be regarded as incredibly fortunate. Hedge fund billionaire Tom Steyer, a former 2020 Democratic presidential candidate, in a new interview sharply criticized the notion of a self-made billionaire, saying the wealth accrued by ultra . But . Do billionaires deserve their wealth? and that most Swedish billionaires inherited their . Money to them is just a gauge that lets them know when they have achieved their latest goal. This growth happens independently from any one individual's effort and talent, so we can't say that billionaires deserve the profits that go hand in hand with economic growth. Should billionaires pay their fair share of taxes? Another sets her limit at $10 million. Sue Gross, who was married to PIMCO cofounder Bill Gross until their 2017 divorce, joined the billionaires list after getting approximately $1.3 billion, a $36 million house in Laguna Beach, and . Whatever their taxable income is, millionaires usually invest their money in stocks, bonds, and other types of stable investments in order to ensure that they have a steady income. Let's address the charges billionaires face. The Incredible Immorality of the Billionaire Class. Self-made millionaires do things a little differently from everyone else. My friend says she can be happy with $100,000. Yes, I do say this on a forum created with the ultimate goal being making money. There has been an increase in the number of large donations to social causes from multi-billionaires. Then, after you've got an idea of what $1,000,000,000 looks like, go back and delete however much you feel like you'd need to live comfortably for . . Most would agree that we all deserve to live in a society where we are given what we deserve, are free, and have the capacity to be creative and reach our potential. That's a word which will spark various emotional and rational . There has been an increase in the number of large donations to social causes from multi-billionaires. All athletes are so dedicated to the sport that they risk injury to play, especially a sport like football where contact is the whole game. If "millionaires and billionaires" were all that concern. Meanwhile, many ultra-wealthy people "use their money to make money," he says—an exciting, status . Without them, eventually all wealth will collect in the hands of a few. Billionaires are only so rich because they have paid their workers so little money. Indian tech billionaire Azim Premji in 2019 pledged to transfer about $7.5 billion in . Khaled Diab is an award-winning journalist, writer and blogger. We are not taking away their businesses, So they still have the opportunity to gain more money. if i had that kinda money, id be tryin to get the hell outta here too. Many give money to their own foundations, and then use that vehicle to figure out how to distribute the money. But, at what cost? They also possess a different mindset than other people. Countering the "Billionaires deserve their money, they earned it" Talking point. I constantly hear the argument "Billionaires donate to charity! Is it okay to work hard and make money and excel? I constantly hear the argument "Billionaires donate to charity! Amazon CEO Jeff Bezos, who is worth more than $145 billion and owns a $75 million private jet, is the world's richest person. Management Professor Shai Davidai researches the idea of "deservingness" on the perception of wealth, and examines the mental calculations the public . Regardless of how they got their money, billionaires tend to be exceedingly self-confident about what they can accomplish as individuals. Depending on the day, my number varies between $1 million and $50 million. . The more this global economy grows, the richer our billionaires get. This growth happens independently from any one individual's effort and talent, so we can't say that billionaires deserve the profits that go hand in hand with economic growth. There's no such thing as a good billionaire. Take the case of people who had wealthy parents, I understand that it's unfair that they were born in a position of wealth and. Why do people think that taking money and power away from the ultra rich will automatically fix the world's problems? People like Bill Gates have invented things no-one else could have thought of. Tila Tequila We , the common people, hear that many billionaires donate huge amounts of money to charity organizations. They dont deserve to live. I don't say that those who created products that solve problems shouldn't be rich. As unglamorous as it may seem, redistributive taxation is a step in this direction. Everyone has it tough during the . Delta(s) from OP Take our meme lord Elon Musk or Jeff Bezos as an example. Today we explore 12 millionaires who don't deserve the money they have. Mackenzie Bezos says smaller donors deserve more praise than billionaire philanthropists . J.B. Pritzker, declared Wednesday he was "all in" to back a candidate running to defeat the governor next year. Today, there's a movement to "Abolish Billionaires," based on the belief that no single individual could possibly deserve so much money. Larry Ellison paid out $600 million to own 98 percent of Lanai Island. from the Pandora Papers that deserve primary attention. They could easily have increased wages in their Chinese factories, but they like to keep all the profits for themselves. I see business, life, and earning as a game I love to win, because that is what billionaires do. America's Richest Self-Made Women. I'm not going to say that billionaires don't deserve the money they've made, but to have that much money and act the way they do is absurd — their meek donations, unethical business practices and capitalistic ideals need to be criticized by the public more often. The problem we have with billionaires isn't that they have wealth, it's how they got it. So yes, I do think that there is such a thing as too much, and we should all feel like there is such a thing as too much. We can argue all we want about whether billionaires deserve their money. as an offshore destination . When Billionaires Try To Hide Their Money: 5 Things You Need To Know About The Pandora Papers Revelations . In defense of billionaires, they spend their money on charitable causes. The reason billionaires make more money than everyone else at their company is that they have the power to demand it, not because they deserve it or worked the hardest or even (in most cases) did the innovating that made the company successful. You have to agree that other causes, Like ending cancer, Certainly deserve money. you get all the credit you deserve. The Incredible Immorality of the Billionaire Class. ! CMV: Millionaires and Billionaires have earned and deserve their wealth and they should thus not be taxed more than other people or otherwise have their money taken away. But do people generally think Bezos, and other billionaires and multimillionaires, deserve to be that wealthy? They allocate their time and energy differently, focusing more on personal growth, their . . I see this one a lot among even "progressive" US democrats, and it's easy to debunk with a long post explaining surplus value and/or showing how the major "celebrity billionaires" all started out rich, but I think it's pretty apparent that people aren't interested . In the same survey last year, U.S. Trust found that half of multi-millionaire respondents said their children wouldn't reach a level of financial maturity to handle the family money until they . This growth happens independently from any one individual's effort and talent, so we can't say that billionaires deserve the profits that go hand in hand with economic growth. So here's the thing: A billionaire can do as they please with their money. . They're actually a nasty by-product of financial market deregulation and tax breaks for the wealthy. They either had such a privileged life that not becoming wealthy would have been personally embarrassing ( Bill Gates ), exploited their workers to keep costs low and profits up ( Jeff Bezos ), or some combination of those and a variety of other reasons. Edward Berthelot/Getty Images. Billionaires aren't the super inspirational leaders of capitalism. Bezos' Day One Fund made a $2 billion commitment to donate to non-profits. Do professional athletes deserve their pay? This is why I consider myself a moderate Democrat and don't fit in the crowd of Bernie Bro's that think billionaires shouldn't exist. So can you and I don't think many Billionaires just go blow $10 grand on a wild night when it takes six figures to have a truly amazing night. Subsidizing billionaires, who don't need or deserve it, is not right. While there are billionaires like Bill Gates, who donated more than half of his wealth to charity and co-started The Giving Pledge where members who join pledge half of their wealth to philanthropic causes, most billionaires are spending their money on private jets and ridiculously lavish real estate. . Now It's Their Turn. Two thirds (66%) of those who believe that billionaires can deserve their money support raising their taxes and 89% want the government to take action to ensure they pay their taxes. Billionaire Ken Griffin, an ardent foe of billionaire Democratic Gov. as an offshore destination . As unglamorous as it may seem, redistributive taxation is a step in this direction. The richest 80 people in the world have more money than the poorest 3.6 billion people in the world (40 of these people are American). Re: i kinda cant blame billionaires for wanting to get off this planet. Billionaires don't use their money the way you think they do. I know that sounds . As the number of millionaires and billionaires in the world climbs ever higher, . Answer (1 of 10): I'm pretty sure that you don't "know millionaires and billionaires" as your question suggests. Amazon has already been caught reverse engineering products and selling them as Amazon brand products. So we have seen that billionaires are a plus and not a negative. There are over 2,000 billionaires in the world and every single one of them is richer than they deserve. Forbes 400. Besides, Billionaires have PLENTY of money, And could easily recover the amount they used to donate. When Billionaires Try To Hide Their Money: 5 Things You Need To Know About The Pandora Papers Revelations . John Phillips/Getty Images Cash is only a small part of a billionaire's wealth , according to Rafael Badziag in his book " The Billion . As the number of millionaires and billionaires in the world climbs ever higher, . 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