no one should have a billion dollars. no, not him either.

[heelsandeers]

Yes, I agree, SNAP, FB, and companies like it were able to expand at low costs, I don't take issue with that fact.

Truth is FB changed advertising as we know it, and are responsible for the social media companies we see today. He turned what numerous companies had tried to do before and did it (Myspace, Tumblr etcc...) FB literally created a new industry.

Can you share which companies have founders that do 5x revenue of FB that aren't close to his net-worth? Curious to know.....

I don't conflate innovation with "good for society". In previous posts I mentioned FB as a company should be regulated and is bad for society as it is currently configured. I also added I think he is a bad person.

I was exaggerating a bit but the point is most computer markets have strong network effects and the winners produce concentrated wealth that wasn't once possible in a post new-deal US

large industrial companies like Exxon Mobil and GM have long been fully public in the sense of having no particularly large shareholder

by "good for society" I don't mean the business being good/bad. I mean an individual's ability to accumulate so much wealth

our whole system of government has been corrupted by these very interests that are also often rigging the outcomes to produce the concentrations of wealth. as the wealth accumulates in the hands of a few, so does the consolidation of power

 

[DCAllAfrican]

cosmiccoffee9

As soon as Black people consistently gain that sort of wealth? It will be outlawed. Book it.

People like JRepp23 don't understand this.

 

[KHUFU]

cosmiccoffee9





People like JRepp23 don't understand this.

Yeah, niceshoes247 will never get it either.

 

[RIP sleazyy]

this current crisis is set to showcase capitalism at its absolute ugliest.

Reading this in March and then again now and seeing where we are in August is crazy.

system absolutely failed us (surprise) as a whole, again, while saving those who didn’t need saving.

again.

I am not one to say abolish billionaires. but eat the rich has never been a bad idea.

 

[datznasty]

Bezos made 13B in one day a few weeks ago, Billi with a B

 

[SupremeBeing5]

If I had Millions in BC, I’d be richer than Bezos today. But I’m Melanated/carbonated, so they’d prolly paint me as a terrorist with the 4th branch of the Govt.

 

[prodigiou$]

Just give me a million dollars and I'll be straight. On God.

 

[fac3 tak30v312]

So litigation is the moral compass we judge individuals on now?

The overarching argument (And the thread title) Is that Billionaires do not bring the value they are worth. Exploitation is a strong word. My previous point was to highlight the fact that FB creates value 70B a year to be exact. The man that created it (I'm not here to defend Mark) deserves a considerable amount of wealth.

If you don't feel that someone should ever be worth that much, I don't know what to tell you? Every continent, political structure and economy produces them.

The only reason I have a Snapchat, Instagram or FB account is to get laid... All I think about is hey if there was a Snapchat when I was a teen I would’ve so been using to get laid. Same with AOL.. Only reason I had AOL messenger is to talk to girls in school to get laid.

Very simple, the girls in my village don’t want to have sex.. how do I talk to the girls in the next village over.. Otherwise there wouldn’t be a single picture of me or any thing I do online.

FB took that idea and expanded it into a mass data collection entity

 

[danikerhino]

cosmiccoffee9

****....

 

[plansb]

I don’t think he’s considering compound interest

 

[ShoeGod1423]

I don’t think he’s considering compound interest

And if you do just the BASIC math it only amounts to bout 73 BILLION haha which is about 130 billion LIGHT for Bezos wallet.. that barely touches what he had to break his ex wife off for dumping her haha

 

[703 hwy]

That’s crazy that the average American pays more taxes than a millionaire/billionaire

 

[fac3 tak30v312]

Why pay taxes when you can create a philanthropic organization, that boost your image, create jobs and be used as a possible tax write-off.

Does anyone know if that is actually possible.. or if someone in the middle class can do it.. Like if you pay 15k a year in taxes donate 7k in bookbags and get that 7k write-off back during tax season... like actually get that money back

 

[gry60]

That’s crazy that the average American pays more taxes than a millionaire/billionaire

The average person needs the roads to work, the emergency services to function, the education system to adequate, utilities to run with no interruption, and security to go about their lives.

The wealthy class doesn't care about any of that. If the roads are bad, they just buy very reliable (and very expensive) SUVs or they fly; they don't need 911 because they personally know the best doctors/specialists in their city/region; they can hire the best teachers for their children for 1-on-1 instruction; they can dig wells for fresh water and power their homes with generators; they can hire the best private security there is in their neck of the woods. What do they need to pay taxes for? On a personal level, they don't need to be invested in the stability of the society they live in, which is why they have less reservations about ******* it up for profit.
Heavily taxing the super rich is the only way societies can protect themselves from the parasitic nature of laissez-faire capitalism. In a world where resources were infinite, that wouldn't be an issue, but we don't live in such a world.

 

[moderndarwin]

Why pay taxes when you can create a philanthropic organization, that boost your image, create jobs and be used as a possible tax write-off.

Does anyone know if that is actually possible.. or if someone in the middle class can do it.. Like if you pay 15k a year in taxes donate 7k in bookbags and get that 7k write-off back during tax season... like actually get that money back

That’s not how actually how a write off works lol

The reason this tax stuff works for rich people is that they already have all the stuff we “want” and this the level beyond that of spending. We just want enough money to buy a house, get a nice car, save something for the future etc.

However, let’s say all that is easily taken care of. Now what’s next is how do i combine stuff i’m interested in + saving in taxes on spending on that stuff. Like let’s say i want to do stuff related to yachts. Better to just straight up buy yachts or better to start a nonprofit that purchases them and gives kids free lessons on how to use them. To “save” on taxes you actually still need to be spending tons of money. It’s not like these guys just sitting on it in their own bank accounts. It has to leave and go somewhere else toward stuff they are interested in

 

[fac3 tak30v312]

That’s not how actually how a write off works lol

The reason this tax stuff works for rich people is that they already have all the stuff we “want” and this the level beyond that of spending. We just want enough money to buy a house, get a nice car, save something for the future etc.

However, let’s say all that is easily taken care of. Now what’s next is how do i combine stuff i’m interested in + saving in taxes on spending on that stuff. Like let’s say i want to do stuff related to yachts. Better to just straight up buy yachts or better to start a nonprofit that purchases them and gives kids free lessons on how to use them. To “save” on taxes you actually still need to be spending tons of money. It’s not like these guys just sitting on it in their own bank accounts. It has to leave and go somewhere else toward stuff they are interested in

Soo... you say that’s not how write offs work without actually explaining how they actually do tax write offs.. Only that they spend their money on big while we spend our money on little ... ok

 

[plansb]

 

[fac3 tak30v312]

You know what else I was thinking.. what if road repair is a write off..Like if I’m tired of my street having big potholes and it cost 1k to repave that road.. from hiring the crew, renting the equipment and purchasing the material.. Then I have a sign up than only tax payers that helped pay for the repaving of this street can drive on it

At the time of day I know a millionaire drives on the street I pay someone to direct traffic on the street.. NO one that has not paid into the road repaving project can drive through...

 

[eracism]

He went from multibillionaire to relatively broke and living in a small apartment — just like he planned

Published: Sept. 16, 2020 at 3:03 p.m. ET


‘I believe strongly in giving while living. I see little reason to delay giving when so much good can be achieved through supporting worthwhile causes today. Besides, it’s a lot more fun to give while you live than to give while you are dead.’

That’s the attitude of Chuck Feeney, the one-time billionaire who has spent several decades doing his best to give away his fortune. Just as he was wildly successful as the co-founder of retail giant Duty Free Shoppers, he was also accomplished in meeting his charitable goal.

This week, Feeney closed his 38-year-old Atlantic Philanthropies, having donated all his cash to such lofty endeavors as bringing peace to Northern Ireland and modernizing Vietnam’s health care system. More recently, he spent $350 million to turn New York city’s Roosevelt Island into a technology hub, Forbes reported.

His donations include a total of $3.7 billion to education and another $870 million to fight for human rights and social change, like $62 million toward abolishing the death penalty in the United States and $76 million to back the passage of Obamacare.

“We learned a lot. We would do some things differently, but I am very satisfied. I feel very good about completing this on my watch,” Feeney, now 89, told Forbes. “My thanks to all who joined us on this journey. And to those wondering about Giving While Living: Try it, you’ll like it.”

Feeney years ago said he would set aside about $2 million to fund his and his wife’s retirement. Dubbed the “James Bond of Philanthropy” by Forbes, Feeney now lives in a small apartment in San Francisco that ” has the austerity of a freshman dorm room. “

He went from multibillionaire to relatively broke and living in a small apartment — just like he planned

This week, Chuck Feeney closed his 38-year-old Atlantic Philanthropies, having donated all his cash to such lofty endeavors as bringing peace to Northern...

www.marketwatch.com

 

[marikomorose]

 

[finessence]

This about the most disrespectful s*** I’ve EVER seen. When the towers dropped on 9/11, they were urgent about getting those bodies out. These companies get mad or fire you if you’re 10 minutes late for work, yet treated a death on the job like this. These bodies sat in that hotel for 10 months. S**** is despicable

 

[DCAllAfrican]

Why pay taxes when you can create a philanthropic organization, that boost your image, create jobs and be used as a possible tax write-off.

Does anyone know if that is actually possible.. or if someone in the middle class can do it.. Like if you pay 15k a year in taxes donate 7k in bookbags and get that 7k write-off back during tax season... like actually get that money back

Yea I said this in the UnPopular Opinions thread but Trump getting away with tax fraud isn't a knock on his character. We ALL would do IT given the opportunity. All of us/

 

[gry60]

 

[fluid hips]

The only reason I have a Snapchat, Instagram or FB account is to get laid... All I think about is hey if there was a Snapchat when I was a teen I would’ve so been using to get laid. Same with AOL.. Only reason I had AOL messenger is to talk to girls in school to get laid.

Very simple, the girls in my village don’t want to have sex.. how do I talk to the girls in the next village over.. Otherwise there wouldn’t be a single picture of me or any thing I do online.

FB took that idea and expanded it into a mass data collection entity

If you really think about it, the economy/society is built on dudes in their pursuit to get laid

 

[cosmiccoffee9]

IRS: Sorry, but It’s Just Easier and Cheaper to Audit the Poor

Congress asked the IRS to report on why it audits the poor more than the affluent. Its response is that it doesn’t have enough money and people to audit the wealthy properly. So it’s not going to.

www.propublica.org

it comes to mind that guy should have been audited and locked tf up DECADES ago.

...but because our society prosecutes the poor while enabling the rich, you get President Donald John Trump.

never forget that our current cluster**** results from structural issues that existed before we were born.