I do not hate billionaires for being billionaires. But I'm against a system that unjustly and inefficiently concentrates wealth in the hands of fewer and fewer people while basic necessities such as housing become unaffordable because the beneficiaries of that system are turning it into an investment through which extract more wealth from the people below themselves.

Billionaires create many things millions use. Just because they have a lot of money didn’t make them intrinsically bad.

To illustrate how bad this argument is. Middle Ages nobles made contributions to society in the form of collecting taxes, managing land and organizing armies. That doesn't mean that feudalism isn't a bollocks system nor that you shouldn't come up with ways of collecting taxes, managing land and organizing armies that don't incentivize privilege and corruption.

[–] Internetexplorer@lemmy.world 0 points 1 year ago (2 children)

I agree that concentrated wealth isn't an efficient distribution.

So what can we do, 100% taxes over a million?

What's the incentive then to work harder if you earn over a million?

[–] puppy@lemmy.world 5 points 1 year ago

Billionaires paying the same tax rate as high paying professionals is just fine. And no tax evasion using non-profit facades.

[–] SuddenDownpour@lemmy.world 2 points 1 year ago (1 children)

If you're are literally working so hard that you're 100 times more productive than someone earning minimum wage, take a vacation. If you don't want to, it's clear that money isn't what motivates you the most when you choose to continue working.

Of course, you must be really ignorant to believe that people earn 100 times more than someone earning minimum wage because they're 100 times more productive. Your capacity to produce is not the same as your capacity to earn money.

[–] Internetexplorer@lemmy.world 1 points 1 year ago

But that's the point, you're spray taking 100 types the risk when starting a business.

That's what's greenbelt not taken into account.

The start up costs, the risk involved, the investment capital.

The owners of the business hold all this risk so they should receive the reward as well.

50% of business don't survive the first five years.