Do greedy millionaires and billionaires...

[Zan15]

T

Another unsourced claim. I wonder if someone actually investigated the truth.

Quick search:

https://www.bankmycell.com/blog/how-...-to-make#jump2

So, the range is likely 156-450$ instead. Additionally there's the software cost, and other development costs.
They are still expensive toys, and Apple is likely making a good profit from them; but the difference isn't that large.


No, I'm stating that the premium price translates into higher level of economic "contribution"; contradicting the previous claim.

oh sorry i said 120 and it was 156.....

of course it was an exaggeration to make a point but i'll go off the margins that apple reports in their 10k and stick by the fact that they are so much more expensive then they cost to produce and cost way more than Most* other phones that are even considered better.

Not to mention the production of the phones allow for the very gross margins on the services related to the iphone.

[Sorensen]

How does one plan for an unforeseen medical bill, exactly?

Have savings. There are so many ways to prepare for unforseen events.

[Zan15]

The wealthy do consume more. Congressman and Freedom Caucus co-founder John Fleming spends $200k per year on groceries. He does practice what he preaches.
https://www.businessinsider.com/a-re...on-food-2011-9

LOL 200k a year?

still only turns out to be 3% of his income. Which is way under the average. Thus his individual impact to the economy is less than that of some middle class family.




if you believe his 600k, then he is a moron for spending 200k of it on food.....

[Forogil]

oh sorry i said 120 and it was 156.....

of course it was an exaggeration to make a point but i'll go off the margins that apple reports in their 10k and stick by the fact that they are so much more expensive then they cost to produce and cost way more than Most* other phones that are even considered better.

I'm not denying that they are expensive, it's just that people consistently over-use hyperbole.

Note that $156 was the cheapest material cost and it was for the iPhone SE sold at $399.

And even if more recent phones cost more the average markup percentage has actually decreased over time; as they have added expensive extras (sensors, cameras) - likely in part so that people feel that they get something for all the money; so the iPhone 11 Pro Max had the most expensive material cost of $450. (To me it also seems that it's way too big.)

[Zan15]

Have savings. There are so many ways to prepare for unforseen events.

easy while making min wage....lets say 10.00.

in 20 years of working i guess even if i saved half of that i could have 200k saved up, 300k if i invested it and got a reasonable return.
Of course i would have to be homeless...but lets suspend belief.
couldn't afford health insurance with what was left....but lets suspend belief

One heart attack. poof goes that money.
Cancer, oh lordy goodbye money....

fucking should have planned better.....



Lets hope they are in a high income state so they at least qualified for Medicaid.




Also how do you prepare for unforeseen events that happen when you are born?

[Elegiac]

Have savings. There are so many ways to prepare for unforseen events.

What's the solution for people who don't make sufficient income to save?

It's funny how there are "so many ways" to save money for a rainy day and yet they all seem to revolve around already having money to spare.

[Sorshen]

Have savings. There are so many ways to prepare for unforseen events.

Wow, this is so out of touch with reality.

[Forgettable]

I mean i'm sure some people believe that hoarding wealth and making the lower classes poorer means you 'want to make the world a better place' in whatever fantasy they live in.

Yeah, feudalism on mars is going to work out great

If you actually did a little research on Elon Musk you might have a different opinion.
He's actively trying to solve the world's biggest problems.
It just so happens you have to have money to do so.

Also if you look at why his net worth is so high, it's just because he owns so much Tesla stock.
Tesla, the company he started from nothing.
That's not hoarding wealth.

[Shadowferal]

If you actually did a little research on Elon Musk you might have a different opinion. He's actively trying to solve the world's biggest problems. .

Yeah sure.
How's that covid19 denial working out for his employees again?

[JohnBrown1917]

If you actually did a little research on Elon Musk you might have a different opinion.
He's actively trying to solve the world's biggest problems.
It just so happens you have to have money to do so.

No he is not, feudalism on mars is only going to work out for the super rich.

Also if you look at why his net worth is so high, it's just because he owns so much Tesla stock.
Tesla, the company he started from nothing.
That's not hoarding wealth.

Its why any super-billionaire has high net-worth, did you actually think you brought in anything new?

[Forgettable]

Yeah sure.
How's that covid19 denial working out for his employees again?

You're so ignorant, I don't know why I didn't put you on ignore earlier.
There's obviously no intelligent conversation to be had here.

[Shadowferal]

You're so ignorant, I don't know why I didn't put you on ignore earlier. There's obviously no intelligent conversation to be had here.

Yeah... your hero worship = intelligent conversation.

[Elegiac]

If you actually did a little research on Elon Musk you might have a different opinion.

I have and I still loathe him just as much as before, so.

CEO generosity is epic in proportions – or at least that is how it is portrayed. Indeed, on an individual level it is hard to find fault with those rich people who have given away vast swaths of their wealth to charitable causes, or those corporations that champion socially responsible programmes. But what CSR and philanthrocapitalism achieve more broadly is the social justification of extreme wealth inequality, rather than any kind of antidote to it. We need to note here that, despite the apparent proliferation of giving promised by philanthrocapitalism, the so-called golden age of philanthropy is also an age of expanding inequality.

This is clearly spelled out a 2017 report by Oxfam called An Economy for the 99%. It highlights the injustice and unsustainability of a world suffering from widening levels of inequality: since the early 1990s, the top 1% of the world’s wealthy people have gained more income than the entire bottom 50%. Why so? Oxfam’s report places the blame firmly with corporations and the global market economies in which they operate. The statistics are alarming, with the world’s 10 biggest corporations having revenues that exceed the total combined revenues of the 180 least wealthy nations. Corporate social responsibility is not making any real difference. The report states: “When corporations increasingly work for the rich, the benefits of economic growth are denied to those who need them most. In pursuit of delivering high returns to those at the top, corporations are driven to squeeze their workers and producers ever harder – and to avoid paying taxes which would benefit everyone, and the poorest people in particular.”

Neither the philanthropy of the super-rich nor socially directed corporate programmes have any real effect on combating this trend, in the same way that Zuckerberg’s handout of $3m will have a negligible effect on the San Francisco housing crisis. Instead, vast fortunes in the hands of the few, whether earned through inheritance, commerce or crime, continue to grow at the expense of the poor.

In the end, it is capitalism that is at the heart of philanthrocapitalism, and the corporation that is at the heart of corporate social responsibility, with even well-meaning endeavours serving to justify a system that is rigged in favour of the rich.

[Shadowferal]

Hundreds of Tesla workers tested positive for the virus after Elon Musk reopened a plant, data shows.

[Elegiac]

Hundreds of Tesla workers tested positive for the virus after Elon Musk reopened a plant, data shows.

Let's not forget supporting a coup just to get cheaper access to lithium for Tesla batteries, to boot.

[Santti]

Yeah, Musk is no hero. Him peddling misinformation about Covid-19 was rather disgusting.

[kamuimac]

easy while making min wage....lets say 10.00.

in 20 years of working i guess even if i saved half of that i could have 200k saved up, 300k if i invested it and got a reasonable return.
Of course i would have to be homeless...but lets suspend belief.
couldn't afford health insurance with what was left....but lets suspend belief

One heart attack. poof goes that money.
Cancer, oh lordy goodbye money....

fucking should have planned better.....



Lets hope they are in a high income state so they at least qualified for Medicaid.




Also how do you prepare for unforeseen events that happen when you are born?

seems like US only problem . could be easily solved by making decent healthcare tax for all working people and putting a leash on overpircing everything in medical sector.

but "taxes are devil " eh ?

- - - Updated - - -

Wow, this is so out of touch with reality.

why is it so ? i know plenty people who could do literaly nothig and live of their savings for at least 10+ years maintaining their current livestyles.

normal people dont do that because they like they jobs.

[Cthulhu 2020]

Was it?



Sounds to me like you're not disagreeing that a premium price does not automatically translate into a higher level of economic contribution, but rather nitpicking as to what degree that delta exists. Stop being a pedant.

Conspicuous consumption, the purchase of luxury goods with a high price tag, add nothing more to the economy than buying a plain handbag. In fact, conspicuous consumption is really just money changing hands from one wealthy person to another. If an artisan hand makes it and gets most of the price, they're rich themselves. If it's some cheaply made stuff with a high price tag, the people making it still earn close to minimum wage.

[Draco-Onis]

Have savings. There are so many ways to prepare for unforseen events.

You have low to high six figures saved up for medical emergencies? heck if you get into an bad accident and need a major transplant the bill can run up to 7 figures that's not even including the time you will spend in the hospital recovering.

- - - Updated - - -

Also if you look at why his net worth is so high, it's just because he owns so much Tesla stock.
Tesla, the company he started from nothing.

So much falsehoods here, putting your net worth into stocks is how the rich avoid paying taxes. Musk didn't start Tesla from nothing it was started by two other people before Musk even got involved when he did he was already very wealthy from previous ventures. Please for the love of god before you hero worship someone the least you can do is google them.

[Sorensen]

You have low to high six figures saved up for medical emergencies? heck if you get into an bad accident and need a major transplant the bill can run up to 7 figures that's not even including the time you will spend in the hospital recovering.

- - - Updated - - -



So much falsehoods here, putting your net worth into stocks is how the rich avoid paying taxes. Musk didn't start Tesla from nothing it was started by two other people before Musk even got involved when he did he was already very wealthy from previous ventures. Please for the love of god before you hero worship someone the least you can do is google them.

No but I have a job with insurance so after less than what I have saved the remainder would be paid by insurance.