Rich people in america have too much money, says the world’s second-richest man

[Wyrt]

Why are liberals so against people that put in more effort getting more rewards?

lol you think that's how it works.

[Orlong]

They might surprise you.

The idea is if everyone has money to spend it will boost the economy and everyone will benefit rich and poor. People with money can afford to go out and eat, buy big screen TVs and watch movies. Poor people don't add much to the economy.

But the economy isnt any different whether we take the money from rich people and give to poor to spend, or the rich spend it themselves. Either way its going into the economy. A wealthy person can spend 75 million dollars on a yacht, or 750,000 poor people could spend 10 bucks each for a dinner out and the economy fares no different

[Ivanstone]

But the economy isnt any different whether we take the money from rich people and give to poor to spend, or the rich spend it themselves. Either way its going into the economy. A wealthy person can spend 75 million dollars on a yacht, or 750,000 poor people could spend 10 bucks each for a dinner out and the economy fares no different

The rich don't spend their money like the poor people do. A poor person spends every last cent participating in the economy. A rich person will tie some of their money up in savings. Its more like they spend 65 million on a yacht and then remove 10 million from the economy.

[Nihilist74]

How is that trickle down economics working out for you!?

[Deleted]

He gives his money to charities and strangers. There is a documentary all about how he doesn't give his money to his own family, though. He is a strange man.

Probably aware of the fact they get everything once he is dead.

[Nihilist74]

Why are liberals so against people that put in more effort getting more rewards?

Is it true that one third of the rich inherit their money, one third of the rich gain their wealth by luck and the other third gain their wealth by hard work? I don't have a problem with people getting rich off of some investment or idea. I have a problem with them becoming so rich that they have gross control over the government. I have problem that the american government is neglectful towards its people by having a shitty education, and medical system. The wealthy control too much wealth. No one in the world does anything to deserve that much power over everyone else. It needs to be kept in check.

[Total Crica]

Probably aware of the fact they get everything once he is dead.

Nope. He won't be giving them any money when he dies, either.

[Cæli]

Why are liberals so against people that put in more effort getting more rewards?

I don't know the definition of a liberal but I'd say that someone could be against money being distributed in the world in an inequate way, work 1 get 1 ok, work 1 get 12996 well, not fair as long as some people suffer from poverty
giving to charity is an excellent move but the system doesn't really value this so

if they think so they can't really be wrong
we all live in the same place, we have no benefit in creating inequity, it limits technical evolution and can create danger for people we care about, so it's dangerous and consequently not worth it

[zorkuus]

Why are liberals so against people that put in more effort getting more rewards?

The "effort" here is finding ways to screw the system.

You think they became rich playing nice? How cute.

[Netherling]

But the economy isnt any different whether we take the money from rich people and give to poor to spend, or the rich spend it themselves. Either way its going into the economy. A wealthy person can spend 75 million dollars on a yacht, or 750,000 poor people could spend 10 bucks each for a dinner out and the economy fares no different

Well, the economy would fare differently because the wealthy person has spent 75 million vs the poor spending 7.5 million.

Why are liberals so against people that put in more effort getting more rewards?

You're implying that poorer people don't put in effort to get the money the earn? They should just work harder, then they'd earn billions! They'll feel so stupid when you tell them.

[Faroth]

So he says. What is he doing about it?

Well he can send me some of his money then or shut up.

Buffet and Gates established a program called The Giving Pledge to give away 50% of their wealth and are encouraging others like them to do the same. 137 billionaires have signed on.

Now, this is philanthrophy - giving money for advancing medical research, social programs, and like rather than just handing money to lower class families, but it's not hoarding money.

http://www.cnbc.com/2017/05/31/14-bi...ng-pledge.html

http://www.cnbc.com/2015/06/02/look-...ng-pledge.html


On the general topic of the thread:

This is why you'll see me talking about the lopsidedness of how pay has grown. When you talk about raising wages, people respond "the price of products will go up" but they wouldn't have. The pay has already increase, only it's been entirely settled on CEOs and executive level employees rather than anyone in the lower reaches of companies. Over ten years, if executive salaries collectively increase by 2 billion dollars total, that's 2 billion dollars that could have been spread to the workers who only saw a ten year increase of 500,000 dollars collectively (I'm using random made up examples here).

This is why there's been a push for more public scrutiny on the wage gap between CEO/executives and their employee avg pay.

[LMuhlen]

If I loan money for someone to build an amusement park who was abused? The people who willingly visited the park and paid the price of admission? Please. I never said it was "clean money", but dont pretend that they went out and robbed people when the people bought the products or services of their own free will. Wealth will always accumulate at the top because it is those at the top who craft regulation and are able to afford the brainpower to get and keep them at the top.

Not the costumers... The employees. The entire supply chain. They sell a burger for U$15, but how much are the local farmers getting from it? Society as a whole is being abused. If the owner gets so rich that he and all his investors are swimming in money, then something is wrong with the system. They don't need that kind of money. Either pay more taxes to help society as a whole, or pay better salaries. Also a park this large probably causes extreme externalities, in local society, environment... If they were properly accountable financially, their income would be much more reasonably reduced.

[Direpenguin]

Well, the economy would fare differently because the wealthy person has spent 75 million vs the poor spending 7.5 million.



You're implying that poorer people don't put in effort to get the money the earn? They should just work harder, then they'd earn billions! They'll feel so stupid when you tell them.

So billions is what is required to not be poor? I didn't realize it was such a binary construct.

[Ghostpanther]

If he paid 19%, he probably did not take breaks. He has been complaining how easy it is for rich men in America to pay practically nothing due to loopholes and breaks.

Well, he had to.You cannot pay only 19% with the income he makes and yet not take any of the deductions he can. So no question he is noting the deductions as allowed on this tax returns.

[tikcol]

Don't give two shits about what a rich person says, unless he actually does something about it he is looking to take credit for doing nothing.

How everyone should feel about this.

[Jimson]

He's giving away money left and right, but he's still the world's second-richest man? I'm sure the answer isn't as simple as "just give more," but it makes you wonder a bit.

[Laerrus]

Thankfully America has Donald Trump and the Republicans in control now, so all those issues will be resolved shortly.

With those Trumped-up trickle down economics? LOL

I work for a certain massage therapy corporation. This year our rates have increase across the board, even older clientele were not grandfathered in at their old rates. Their commissioned employees did not get an automatic pay raise even though the cost of a 1 hour massage went from $80 to $95.

More money at the top and the rest just get poorer due to inflation.

[dd614]

He should give away his fortune.

[Orlong]

Well, the economy would fare differently because the wealthy person has spent 75 million vs the poor spending 7.5 million.



You're implying that poorer people don't put in effort to get the money the earn? They should just work harder, then they'd earn billions! They'll feel so stupid when you tell them.

It was a typo. Was supposed to be 750,000 people each spending $100. Shouldve been obvious since you cant go out and have dinner anywhere for $10 unless youre eating fast food and even then youll be close to $10

[Symphonic]

Maybe he can give some of his money to a universal income account.