Current Events > There are no good billionaires

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WingsOfGood
07/13/23 1:30:24 AM
#51:


Tenaku posted...
Hmm. So what does a billionaire have to do to be good?

Well imagine one that allows their employees to unionize. Doesn't do illegal mergers and stock stuff that just gets wristslaps by entities like the SEC. Doesn't invest in the demise of others like the 2008 crash.
Doesn't nickel and dime and try to maximize product price and reduce quality. Pays employees what they are worth not what they can get away with. Doesn't participate in random mass layoffs to manipulate stock prices. Doesn't seek monopolization using dirty tactics to destroy the competition. Generally seeks benefit of society over personal wealth. Doesn't lie about inflation when they just want to charge more and on and on...

Wait if they do all these things how would they become a billionaire?
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andel
07/13/23 1:35:32 AM
#52:


WingsOfGood posted...
Also here is a whole article on this subject

https://www.nytimes.com/2021/06/13/opinion/warren-buffett-billionaire-taxes.html

it is basically saying that he is bad because billionaires are bad.

i think there should be a wealth cap and people shouldn't be allowed to accumulate more wealth than poor nations. buffet doesn't pay anywhere near his fair share in taxes, but he does advocate for people like him to pay substantially more. he isn't committing crimes to avoid paying taxes, he just isn't made to pay what he should. i think the fact that he is basically giving away all his wealth is a decent argument that he isn't a bad person at least. aside from leaving a few million to his kids he is donating everything to charity.

has he profited from unethical practices? almost certainly. i don't think he is perpetuating the oligarch system of billionaires like someone like the koch brothers do though. buffet doesn't seem to buy political influence like most billionaires and i feel like his wealth will end up doing more good than most anyone else in that position.

does this make him a good person? not necessarily, but i think it is reductive to say he is absolutely a bad person. while many or most billionaires are ruthless or sociopathic win at all cost types that don't care who they trample, i just don't see anything that suggests buffet is that kinda person.

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WingsOfGood
07/13/23 1:40:11 AM
#53:


andel posted...
does this make him a good person? not necessarily, but i think it is reductive to say he is absolutely a bad person. while many or most billionaires are ruthless or sociopathic win at all cost types that don't care who they trample, i just don't see anything that suggests buffet is that kinda person.

Did you look at the post before that and the article of it?
There is settlements because well, ruthless trampling did occur.

And profiteering off the 2008 crisis
Sheeeeesh

This is all just the big things too. No doubt his corps did all the "little" stuff everyone does like wrongful terminations, withholding pay, union bushings etc
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WingsOfGood
07/13/23 1:42:17 AM
#54:


A better question then andel is why you are willing to overlook so much to call someone like Warren Buffet not a bad person?
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Torgo
07/13/23 2:06:06 AM
#55:


shnangyboos posted...
What punishments should these evildoers face? They only got to their position through immoral acts, and they've hurt the poor, the workers, and the country as a whole. What justice does their transgressions deserve?

Tax them into the horrid state of being multi-millionaires...

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Torgo
07/13/23 2:17:24 AM
#56:


Again, I think it's super important to de-personalize this.

The right and the pro-billionaire defenders want to make this about unjustly punishing the "good" billionaire, and look how unfair and bigoted those leftist socialists are that just hate billionaires for being rich!

This is about the systemic impact of allowing a handful of individuals to control that much wealth. Even with the best intentions, a few well meaning but misinformed or mistaken billionaires can negatively effect our entire economic or political system. That says nothing about the effects of those intentionally doing harm in the service of personal goals.

I don't want billionaire sugar daddies funding entire leftist social movements in the same way I don't like when they fund right wing organizations and movements. I want elected leaders to determine policy for better or worse... not Bill gates or Elon Musk.

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andel
07/13/23 2:20:08 AM
#57:


WingsOfGood posted...
A better question then andel is why you are willing to overlook so much to call someone like Warren Buffet not a bad person?

neither of the articles you posted showed how buffet trampled anyone. his company paying a fine isn't proof he trampled over anyone. what were the specifics of the violation? did he knowingly deprive someone of something? it doesn't say that, it just makes a statement that a company partially owned by berkshire paid a fine in 1973.

and profiting off the '08 financial crisis sounds bad and is bad if he was a malicious actor. it doesn't even make that claim though. it stated that he was criticized for owning a stake in goldman sachs (which was owned by berkshire pre financial crisis). could he be a bad person? it's possible, but neither article go into detail about how any wrongdoing or malicious actions. i am not comfortable just saying someone is definitively bad when we don't actually know that he is and there doesnt seem to be any indication of that while we do know that he advocates for progressive taxation and we know that he is donating all of his billions to charity.

if buffet contributed to the financial crisis or even knowingly exacerbated the situation with his investments that would be proof that he is shit, but as far as i can tell no one is even claiming that. there is a massive difference in knowingly profiting off of suffering and coincidentally having investments pre crisis. culpability requires either intent or foreknowledge.

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andel
07/13/23 2:25:56 AM
#58:


Torgo posted...
Again, I think it's super important to de-personalize this.

The right and the pro-billionaire defenders want to make this about unjustly punishing the "good" billionaire, and look how unfair and bigoted those leftist socialists are that just hate billionaires for being rich!

This is about the systemic impact of allowing a handful of individuals to control that much wealth. Even with the best intentions, a few well meaning but misinformed or mistaken billionaires can negatively effect our entire economic or political system. That says nothing about the effects of those intentionally doing harm in the service of personal goals.

I don't want billionaire sugar daddies funding entire leftist social movements in the same way I don't like when they fund right wing organizations and movements. I want elected leaders to determine policy for better or worse... not Bill gates or Elon Musk.

i agree with this. realistically we should have policy that prevents anyone from accumulating personal fortunes in the multi billions. a system that allows a class of billionaires to exist necessarily allows a class of oligarchs that can wield power insanely disproportionately. i just don't see the value in personally demonizing the small percentage that actually seem to try to do the right thing.

people are inherently fallible and any individual that has that much potential to influence our political system will inevitably result in the vast majority of them doing so. just because i don't think every single one of them is bad as a rule doesn't mean i think billionaires should be allowed to become billionaires or stay billionaires

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BettyWhite
07/13/23 2:27:15 AM
#59:


WingsOfGood posted...
Well imagine one that allows their employees to unionize. Doesn't do illegal mergers and stock stuff that just gets wristslaps by entities like the SEC. Doesn't invest in the demise of others like the 2008 crash.
Doesn't nickel and dime and try to maximize product price and reduce quality. Pays employees what they are worth not what they can get away with. Doesn't participate in random mass layoffs to manipulate stock prices. Doesn't seek monopolization using dirty tactics to destroy the competition. Generally seeks benefit of society over personal wealth. Doesn't lie about inflation when they just want to charge more and on and on...

Wait if they do all these things how would they become a billionaire?

Hmm.. Inventing something amazing that isn't easily replicable by copy cats. That's about all I can think of.

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xGhostchantx
07/13/23 2:29:31 AM
#60:


Torgo posted...
It's not there can be no altruistic or "good" billionaires, it's that the existence of billionaires is detrimental. One un-elected person being able to control so much wealth and influence over society is harmful.


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BobbaDukes
07/13/23 2:37:25 AM
#61:


I think its simplistic, cartoonish thinking to characterize billionaires as good or bad based solely on the fact that theyre billionaires.
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BettyWhite
07/13/23 2:38:35 AM
#62:


It's sad because we'll never be able to take the money out of politics.

Campaigns should be minimal and tax payer funded. If caught giving money to a politician, mandatory minimum 5 years prison for both parties.

Never gonna happen... Instead we get our lapdog politicians that work to serve their owners and do just the bare minimum to maintain the support of their constituents. A successful politician always has someone in their pocket.

And this is only one single aspect of the stranglehold the Powers That Be have on the world. So even something as massive as outlawing political funding wouldn't completely fix it.

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Torgo
07/13/23 4:01:59 AM
#63:


andel posted...
i agree with this. realistically we should have policy that prevents anyone from accumulating personal fortunes in the multi billions. a system that allows a class of billionaires to exist necessarily allows a class of oligarchs that can wield power insanely disproportionately. i just don't see the value in personally demonizing the small percentage that actually seem to try to do the right thing.

I agree. That's exactly why it's important to depersonalize this.

For the time being, we are stuck with billionaires having the ability to wield massive amounts of wealth and resources, so we may as well call out good actions as well as the bad, but at the same time pointing out that the philanthropic or charitable whims of one billionaire is not a viable method for tackling the problems facing us.

BettyWhite posted...
It's sad because we'll never be able to take the money out of politics.

that is completely untrue.

The problem is that we have a lock-down two party system currently where the leaders of both parties are completely uninterested in campaign finance reform, public funding for elections, and various caps on campaign spending.

Also the corporate media are uninterested in pushing this issue.

BettyWhite posted...
And this is only one single aspect of the stranglehold the Powers That Be have on the world. So even something as massive as outlawing political funding wouldn't completely fix it.

There is no magic fix-all, we have to think about strategic voting, damage mitigation, and long term strategies. The far right fought for decades to set back progress on abortion, and now they are working on rolling back women's and LGBTQ rights. They aren't worried about one policy to solve all their problems, one package of tax cuts to bring back the guilded age... they know it takes times and small victories along the way.

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Bad_Mojo
07/13/23 4:18:00 AM
#64:


Jay-Z is amazing

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The_Korey
07/13/23 5:20:51 AM
#65:


Tenaku posted...
Hmm. So what does a billionaire have to do to be good?

Throw most of it away, apparently. It doesn't seem to matter if you inherited the money, lucked out on krypto before it even became news-worthy, or won some power lottery. The general koncensus seems to be: you have more than you need while others suffer, so you're bad by default. Pretty extreme, for my liking, but I've long made peace with my own greed, so meh.

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Heineken14
07/13/23 8:11:27 AM
#66:


gatorsPENSbucs posted...

Its funny. 99% of the talk is from people who hate billionaires, yet somehow the 1% are labeled as the bad guys because they dont blindly hate people.


No wonder conservatives are bad at humor.

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Antifar
07/13/23 8:29:21 AM
#67:


Torgo posted...
Again, I think it's super important to de-personalize this.

The right and the pro-billionaire defenders want to make this about unjustly punishing the "good" billionaire, and look how unfair and bigoted those leftist socialists are that just hate billionaires for being rich!

This is about the systemic impact of allowing a handful of individuals to control that much wealth. Even with the best intentions, a few well meaning but misinformed or mistaken billionaires can negatively effect our entire economic or political system. That says nothing about the effects of those intentionally doing harm in the service of personal goals.

This is the way to think about it: as a problem of structures and institutions rather than individuals.

For a comparison, it's like when a cop shoots an unarmed black person and people get into arguments about whether that cop is, personally, racist. Sometimes the cop is black, and this is pointed to as disproving the whole idea of racist policing. But the internal feelings of an individual cop don't really matter.


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SuperSaiyanTien
07/13/23 8:33:56 AM
#68:


The_Korey posted...
The general koncensus seems to be: you have more than you need while others suffer, so you're bad by default. Pretty extreme, for my liking, but I've long made peace with my own greed, so meh.

Which is funny because I guarantee a vast majority of the people online who post their billionaire hate are living beyond their means and could stand to downscale a LOT and give to the less fortunate. But I guess it's easier to act morally superior for Internet brownie points.

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Euripides
07/13/23 8:36:23 AM
#69:


Tenaku posted...
Hmm. So what does a billionaire have to do to be good?

Give the vast majority of their money to good causes such that they are no longer a billionaire and simply a generationally wealthy millionaire

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AP3Brain
07/13/23 8:37:47 AM
#70:


True but I also don't think they are necessarily evil. Some are just ignorant or too self absorbed to realize the negative effect they have on others.
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TetsuoS2
07/13/23 8:40:09 AM
#71:


There's this guy

https://www.theguardian.com/us-news/2022/sep/14/patagonias-billionaire-owner-gives-away-company-to-fight-climate-crisis-yvon-chouinard

But now he's not a billionaire so he doesn't count, maybe.

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boxoto
07/13/23 8:40:55 AM
#72:


I just saw this, and thought it was interesting timing:

https://streamable.com/435ohu

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RchHomieQuanChi
07/13/23 8:49:50 AM
#73:


boxoto posted...
I just saw this, and thought it was interesting timing:

https://streamable.com/435ohu

Great video

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RchHomieQuanChi
07/13/23 9:04:05 AM
#74:


SuperSaiyanTien posted...
Which is funny because I guarantee a vast majority of the people online who post their billionaire hate are living beyond their means and could stand to downscale a LOT and give to the less fortunate. But I guess it's easier to act morally superior for Internet brownie points.

We're talking about very real people who exist that we know for a fact have the ability to do more for society with minimal impact to themselves, and your retort is to deflect to a hypothetical group of people who you have no idea what their finances are like.

Here's the thing though. I have no problem with people living lives of mild luxury. Buy that new console, buy fancy clothes, whatever makes you happy.

My issue is that the world's billionaires not only have more money than they could ever reasonably spend in multiple lifetimes let alone one lifetime, but the fact that they also have so much wealth that they have significant control over many people's lives, from housing, to employment, to the conditions of the places they live and work in, to our literal political system.

If you think the guy who splurged on a PS5 deserves equal scrutiny as someone who could literally end homelessness but chooses to instead throw money away on fueling his/her own ego, then you're just being dishonest.

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gatorsPENSbucs
07/13/23 12:22:46 PM
#75:


[LFAQs-redacted-quote]

Just a bunch of crazy accusations and no actual proof, okay.

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WingsOfGood
07/13/23 1:28:55 PM
#76:


andel posted...
his company paying a fine isn't proof he trampled over anyone. what were the specifics of the violation? did he knowingly deprive someone of something? it doesn't say that, it just makes a statement that a company partially owned by berkshire paid a fine in 1973.

Did you not read the article?
Or once again you just leaning on "I want him to not be bad so him doing actual illegal thing and getting fined for it must not be proof!"

Nevertheless you actually admit the path to being a billionaite is a dirty one.
You secretly agree with me.

andel posted...
has he profited from unethical practices? almost certainly.

Here is the thing. Everyone even you will agree that the path itself requires shadiness and underhanded tactics.

The probelm?
andel posted...
he isn't committing crimes to avoid paying taxes, he just isn't made to pay what he should.

The argument is always "you would do it in his place if you could!" That is the problem.

"Not his fault just the systrms fault!"

Sorry but hr COULD pay what he SHOULFD. HE deliberately CHOOSES not to.
Same with all shady tactcis used. Same with profiting off 08, doing illegal things that don't put you in jail.

We all can agree that thr path to being a billionaire does this.
You did.
You said he profited from unethical practices.

You just want to reframe it as a consequence and dissociate his choice to engage in it.

All billionaires are bad because they know and they choose and continue to choose the path.
If they don't, they STOP being billionaires because you can't keep that much otherwise.

Unethical - check
Paying fines for illegal peactices - check
CHOOSING to not pay what taxes they SHOULD pay - check
Investing in societal decline - check

"B-b-but guys! He is not a BAD person!"

Wow

Holy moly at thre GYMNASTICS required
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#77
Post #77 was unavailable or deleted.
Azn_Psycho
07/13/23 6:37:39 PM
#78:


The only good billionaires are millionaires

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Blah, blah, blah, and blah.
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BobbaDukes
07/13/23 9:32:06 PM
#79:


This board sure has an affinity for being sarcastic and snarky when they can't rebut an argument. lol
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