Should the Term Billionaire Not Exist?
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Does anyone else agree with that?
Why do you need to have some much money? what do they actually spend it on? or is it a case of just hoarding money?
Some people have more money than countries GDP, like wtf! What is out there that you need so much money?
I think people should put a limit on money and no one should have more than that.
Firstly that would be communism AgnesFaludi. A limit would kill enterprise and why would people bother to set up industries and businesses that could employ thousands if their earning potential was limited. If you manufacture something that is sold worldwide in its millions it doesn't take long to make millions.
Don't get me wrong Getsome I agree entirely with your sentiments but sadly human nature is such that the more you have, the more you want. It is also a power thing as those with money love to feel they have power over, and are better than, the rest of us.
The only way to realistically deal with it is heavy taxation but when you have millions you can afford good lawyers to find loopholes. They could start by looking into offshore accounts and some bad bank practises.
Don't forget some people, albeit a minority, are philanthropic with their money.
I get the more you have the more you want as everyone shows a degree of that but when you are in realms of billions what could you want to buy?
Getsome the in thing seems to be a super yacht, especially amongst the oligarchs. They can cost at least a billion. Then the docking fees, crew wages, probably chef and housekeeper too lol.
Even John Travolta owns two jets and the upkeep must be astronomical.
Please understand I am only playing devil's advocate as I too wonder why some folk need so much but I like to think that if I were that rich I would spread a lot of joy.
Lynibis I get that they cost billions but if the items were not billions then you wouldnt need a billionaire to purchase these products.
Rich people buy houses in New Zealand and they do not even live there and people who actually live there have housing shortage when there are empty houses. Crazy....
I like communism, the idea is great. Everyone should be equal. I lived in it and it meant more happy people, less corruption and less rich people and no homeless on the streets.
AgnesFaludi mmmmm and countries like China and North Korea run by dictators who apply the rules to the population but not themselves. Just as it says on Animal Farm, all men (animals) are equal, just some are more equal than others.
AgnesFaludi I certainly agree that people should not be allowed to have two homes that are empty all year round. But holiday rental has to be allowed. Maybe if they want their second homes they should have to rent them when not in use.
Some people are so rich that they don’t even know how much they have - they literally c##p out money! but I don’t agree with limiting wealth - some have worked hard to earn it, and should set good examples for others to strive to succeed. We all exist with purpose, so the eradication of billionaires doesn’t solve problems
Im not saying people should be rewarded for working hard but billionaires have that much money they don't know what to do with it while people are working ridiculous hours or are working 2 jobs for minimum wage just to survive. My opinion is the eradication of billionaires would solve alot of problems as peoples greed for wealth is one of the biggest problems in the world.
hspexy You don't think billionaires aren't that greedy? if they weren't that greedy then they wouldn't have become a billionaire!
Getsome very narrow view. Billionaires mostly become that way through an invention that everyone goes mad for or an extremely successful business where sales hit the roof. (Think Alan Sugar and Amstrad) No one would start a business with the thought of only earning a certain amount and then pushing back production, possibly meaning they would have to lay off workers. Mostly those not born to wealth are driven individuals who have high energy, skill, intelligence and more than a little luck.
Are you going to suggest that those born to extreme wealth should have it taken away, as that would include the queen.
Maybe a topic shining a light on the other end of the scale where layabouts content to live on the benefit system, drink, smoke, take drugs, neglect/abuse their spouse/kids and make no contribution to this world other than raise the population, would be more beneficial. At least billionaires add to the economy and although we may decry (and even be jealous) the fact that they spend a million on a kids birthday party, that money is going to working peoples' salaries who do catering, chauffering, cleaning, gardening, decorating, planning and so on.
hspexy I agree, I have met many low income people who are greedy. Those who accept drinks from the group but conveniently have to leave when it is their round. Accept meals, gifts from friends and family but never give anything, even time or aid, in return. Greed comes in many forms.
I think the royal family are pretty pointless as i don't know what they actually do, so yeah people born into wealth should earn.
Do you think its fair that some people are working two jobs with loads of hours to make a living and some people make more than they do a year just by going to the toilet?
You shouldn't need that much money if society didn't keep pushing and pushing prices up through peoples greed.
I dont like people that abuse benefits by not working and think they should have hand outs aswell. I actually think they are both as bad as each other at both ends of the scale.
Getsome well all I can say is I would love to know how you could bring this about, it is not possible. If you got rid of both ends of the scale as I said before, it would be communism and those with drive and ambition would be stifled (no incentive) and the other end probably discreetly got rid of. It is a pointless exercise really. As someone once said to me if you stuck a few thousand people on an island with the exact same amount of money each, went back a year later, some would have doubled or trebled their money and some would be down and out. It is all down to human nature. I would love to know how old you are?!
Lynibis Im 35 and i do you agree someone has to work 2 jobs just to have a living when people make some much money in minutes?
Getsome I am not disagreeing that huge wealth is obscene and i, as much as anyone, feel sick at people like the Kardashians flaunting their wealth. I hate that millions of people the world over are starving or in poverty but there is no way it can be changed unless human nature can be changed. It is a fact of life that those who are at top of ladder generally form a downward chain which gives jobs to the 'lower classes'.
The only solution I can see is that all workers should benefit from shares in the companies they work for so more of the profit goes to the workers.
Also great wealth changes the nature of humans and teaching compassion and philanthropy, showing the poor and war torn in schools might awaken a more philanthropic attitude in following generations.
Lynibis As much as i would like to see a change, i'm with you on it not changing because of peoples greed and selfishness. I will never see why people have to have stupid things like gold plated phones. The people at the top of the chain may form a chain to lower classes but what the top will receive compared to what the bottom gets will be absolutely massive and the work the lower will have to do compared to the top will be huge. I cant see why people would need some much money
Getsome we are going round in circles and maybe because I am twice your age I have more experience of human nature. I heard of someone with a gold plated toilet and it made me sick when I thought of the equipment that could have bought for a local hospital. But the owner obviously thought a gold plated toilet was more important for him to have than help a hospital! HUMAN NATURE. So, unless you can find a doctor who can do an operation to change a mindset we are on a hiding to nothing...... and who would agree to have that op?
Getsome like I said, its not only billionaires who are greedy. And I’m sure not a.l billionaires are greedy. You have probably only read about a few of them and tarnished them all with the same brush. Lynibis has provided examples. There are loads out in Asia who are not only business people, but humanitarians and people who provide support for communities. Their wealth isn’t the only thing that defines them. People do get too bogged down about money, and that is indeed an issue - whether some have too much or not enough, that’s a separate matter
Lynibis very true. I don’t get a chance to spend time with billionaires, but from my experience with non billionaires, they do indeed have other traits that are worse than greed (some are greedy and malicious!). But a lot of this is just human nature, and you can only ever account for yourself as a person.
Getsome just a link to one of the billionaires who has and continues to help his country and communities with his money - unfortunately google doesnt yield many examples of his work, but in taiwanese and Chinese news, he is well known and well respected, with people looking up to him and striving to be like him
https://philanthropynewsdigest.org/news/taiwanese-billionaire-pledges-bulk-of-fortune-to-charity
that being said, I’m sure he is still greedy, but that doesn’t define him or negates the work he has and continues to do
hspexy Do you find it acceptable some people have to work 2 jobs just to survive when some people make more money in a toilet break than some people do each year?
hspexy 1 billionaire out of loads. If billionaires werent so greedy then why do amazon pay there staff such low wages and also why isnt amazon prime a free service instead of paid when hes about to become a trillionaire?
Lynibis Yeah could have more experience but doesnt always warrant it being right. Its difference opinions and will always be different opinion as we different approaches. The other problem in the world is something im not allowed to talk about because my opinions on it might upset people
Getsome isn’t that a different subject matter? One that doesn’t necessarily involve billionaires? If anyone works in the office, an administrator will earn more than the cleaner, and the cleaner will probably have to clean 6-10 different offices to make the same daily salary - so are you suggesting the office worker and cleaner be on the same pay? If so, then I guess you are suggesting communism?
Getsome so are you saying that because there are so many examples of ‘bad’ billionaires, the ‘good’ ones shouldn’t exist? So the benefits from the charitable and humanitarian work, usually to help the needing communities, should just find a different way to sort out what they need?
don't get me wrong, I know what you are getting at, because technically what you are suggesting is communism
so is that what you are getting at? If so, then I just need to let you know, LD do not permit political chats on here as it may offend people
hspexy What does he need all that money for? if you can give legitimate reasons why they need all that money then no i don't think good or bad billionaires should exist.
Getsome he doesn’t ‘need’ it all, so I guess that’s why he gives a lot of it away. Tbh a lot of them out in Asia are just rich as a result of pioneering engineering and infrastructure work, and not the kind of ostentatious gold Ferrari owners that you seem to hate so much. But people having money isn’t something that other people should hate them for. But after reading a few of the responses you have provided for Lynibis you are definitely firmly left-winged, and I certainly don’t want to go into politics
hspexy Why earn it and give it away? why not increase the wage of the staff so they just earn it themselves?
hspexy well the fact he got billionaire in my opinion probably not enough. Im never going to accept billionaires because no one has give a legitimate reason to have so much money.
Getsome because no one would have an incentive to educate themselves or contribute to the world if they earn the same cleaning toilets as doing brain surgery. Getting really fed up now because whereas I can see both sides of this topic you are blinkered and only see one side. That is why I asked your age because you seemed very niave with your arguments, as if you were an idealistic 18 year old.
Lynibis I never said anything about people becoming millionaires through there achivement but not up to the level of a billionaire. oh sorry if you are getting fed up, you dont have to respond and im not a naive 18 year old. I just believe that the 2 of the most dangerous things in the world is billionaires and religion. There are plenty of things that could change in the world but they wont because billionaires dont want to lose there money!!
hspexy What would be the issue in calling me left wing because i want freedom and equality?
Once they have close to a billion, their earnings go to the government and maybe put have a street with their name or like a hollywood star.
If you do that they will just stop working and live on their billion you have left them with. This means they might sell whatever business they are in causing job losses and distress to many. No one would be willing to work for nothing unless they are true philanthropists and if that were the case they would not cause financial hardship to others but use their money for good and keep people employed.
Lynibis or they might stop work and live off their billion (which you seem to think is a bad thing), they could then sell their company to someone else to earn the profits, if they don't want to stop work they could do charity work. It's a very complex issue and obviously there would be a lot more to it than we can detail here. But essentially more could be done to combat poverty and a big part of that is tackling the mindset and practices of the wealthy - and lets remember were not talking about rich people or millionaires here, we're talking about billionaires, just to put that into perspective, if you were a billionaire and spent £1,000 each day, you would be spending for about 2,740 years before you went broke. Why is it fathomable to have more than that amount of money?
lornaae I totally agree with the first part of your comment except for one thing: if they sell on their business in order to give someone else a chance to earn the profits, the person buying would have to be extremely wealthy in order to do so. I am not sure what I have said that makes you or Getsome think I disagree with the ideology of the topic, it's the practicality of it that I take issue with. Short of a revolution, in which the poorest always suffer most, you will never stop free enterprise and whether it is fair or not, whether I agree or not, it is the way of most of the world. Maybe living in North Korea is the answer but as half their people are starving or trying to escape its regime, can't see it's a better system.
The biggest difference here is that I would not like to be told I cannot be a billionaire (because it will make poorer folk cross) because I would not want all the trappings of huge wealth and I would be giving most of it away, just as I would if I won the lottery, which I don't do!
Lynibis Im trying to find a legitimate reason for someone to become a billionaire but no one is giving any answer except why not if they earned it. The reason i get annoyed about billionaires is they are accumulating all the wealth and people out there are starving to death, people are working stupid hours to to try an create an existence, its costs stupid amounts to travel the world and it would cost even more to go out into space if we ever got the chance. I am completely atheist and i believe you get one life so why not enjoy it but no people have to work themselves to bone to live while people out making stupid stupid stupid stupid amounts of money and nothing to spend it, to me that unbelievably selfish. There is enough money in the world for everyone to live but a small percentage are hoarding it and thats just simply wrong.
Getsome yes I know!!!!!!! And I agree with your sentiments, I agreed it is wrong and unfair but you are asking an impossible question to which there is no answer. It reminds me of the saying how long is a piece of string. How far could you take the solution if one was found. The guy who lives in a mansion in a better part of town, drives a jag and sends his kids to private school would be reduced to the equal of Joe Bloggs who lives in a council flat works hard on minimum wage and drives a battered Ford, but we should all aim no higher than that. As I have said over and over, where is the limit to earnings, where does ambition and intelligence come into it? I personally would love to line up all the selfish billionaires and force them to hand over their excess dosh to the poor. Many would have a much better life, but a great deal more would end up p***ing it up against a wall, killing themselves with drugs or alcohol and generally doing nothing for their fellow man either.
Which brings me back to the nature of man, there is good and bad in rich and poor. Bill Gates has poured millions into malarial drugs and vaccines for poor countries and funded research. If people could be trusted the only answer I can think of is for the very rich to be named and shamed and excess money to be put in a fund to do good. But you can bet your life it would be open to fraud and misuse. Many poor folk are poor because they do not budget wisely. If you can afford booze, cigs and drugs you can afford to feed your kids.
Greedy landlords charge hard-working folk a whole months salary in rent and I bet most don't pay tax on the profit as they should. Women used to be able to stay at home and live on one wage now it takes two just to survive. I get all that I really do. Been there, done that, got the t shirt!
Lynibis I know there isnt an immediate answer and i can only be hopeful we there can be a solution but people arent going to agree. Im not saying take all the money off a billionaire and stick them in a council house, people could still be millionaires. If someone comes up with an idea and puts the graft in then why shouldnt they be rewarded but not so much they become billionaires. Knowing there isnt a promising solution or possibly a solution doesnt mean i would ever agree that billionaires should be about, im never going too. In response to be bill gates ploughing loads of money into drugs and vaccines, well if money was shared out on a far scale ( i mean you actually have to go out and work for it and not just expect handouts) then he wouldnt need to plough millions into it.
Lynibis it's not a topic with a quick fix but I don't think that means we should dismiss it, it would obviously be down to policymakers to work out the ins and outs but it's good to debate how it could be done. I don't think it would stop people seeking to achieve big things etc and it wouldn't reduce successful people, it would just mean that once someone has more money to their name than they could ever spend, there's a sensible process in place with what to do with that money. Again, we are talking about billions, more than one person could ever spend in multiple lifetimes, capping people at a billion isn't some huge restrictive practice - but you know what is - restricting people to not being able to escape poverty
Getsome thank you for a reasoned reply. There is only one other thing I would add and it is that a lot of billionaires probably don't have that amount in their bank account it is usually their worth in terms of assets. That may include the value of buildings, land, warehouses, machinery and all other assets. It would be lovely if every billionaire was a true philanthropist though. The Bill Gates reference was 3rd world countries where there is no possibility of running water let alone education to get work. But I do wish they would show a bit of initiative and help themselves.
Lynibis If someone makes a few million and lives a comfortable life through an invention or something then i applaud them but when it comes to billions then that's just gone to far and i will stand by it until a reasonable reason can be presented.
Yeah it's completely unnecessary to have billionaires, why does anyone need that much money - more money than they could spend in multiple lifetimes - especially when there are so many people on the other end of that scale. We have a world in which trillionaires now exist at the same time that record numbers are suffering from poverty, there's no need for it.
Exactly no can actually what they need it for, because they dont need it. I would accept billionaires if they put the money into reducing poverty, help stop damaging the planet and space exploration
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