Billionaires - Right or Wrong

[bugsyblue]

There's a debate doing the rounds about whether it's morally right for Billionaires to exist? There's groups that argue that every billionaire represents a policy failure in government. But then others would argue Billionaires are simply innovative entrepreneurs that immensely enrich the world via their inventions, businesses or products and they absolutely have the right to reap the benefits of their success.

On a slight side note, but relevant to the debate, I've just read that 26 of the richest people in the world now own as much as the poorest 50% in the entire world!

So what do Bluemooners think? Is it acceptable for people to personally be worth billions?

 

[blueinsa]

Product of the system I'm afraid and intentionally so.

 

[aguero93:20]

There is an upper limit to personal wealth at which point it becomes useless to the person. Try to put a figure on it though.

 

[inbetween]

There's a debate doing the rounds about whether it's morally right for Billionaires to exist? There's groups that argue that every billionaire represents a policy failure in government. But then others would argue Billionaires are simply innovative entrepreneurs that immensely enrich the world via their inventions, businesses or products and they absolutely have the right to reap the benefits of their success.

On a slight side note, but relevant to the debate, I've just read that 26 of the richest people in the world now own as much as the poorest 50% in the entire world!

So what do Bluemooners think? Is it acceptable for people to personally be worth billions?

Billionaires become billionaires by the creation of products which sell.

The creation of those products happens thanks to the input of employees who also take a share of that wealth.

If you want to control or prevent the above then you have to also consider whether increasing the dole queue is also a failure of government policy..

 

[Ban-jani]

Damned if you do, damned if you don’t kind of question.

 

[stonerblue]

No. Greedy fuckers unless they're philanthropic with it. I mean, how much money does one person need once they've got a couple of mill' in the bank.

 

[stonerblue]

Billionaires become billionaires by the creation of products which sell.

The creation of those products happens thanks to the input of employees who also take a share of that wealth.

If you want to control or prevent the above then you have to also consider whether increasing the dole queue is also a failure of government policy..

Mike Ashley agrees.

 

[Fame Monster]

There shouldn't be an upper limit on wealth because that would severely reduce the contribution that many of these billionaires make to society because, if they were ever to hit the limit, they would have much less incentive to work. That said, it should be much, much harder to become a billionaire with higher property taxes and wealth taxes levied on the wealthy but not an absolute, upper limit. Also, in realpolitik terms, there would need to be a combined international effort (maybe a European taxation union?) to prevent people from avoiding the payment of fair taxes, and not a race to the bottom where countries compete against each other offering rock-bottom rates.

 

[lancs blue]

I can't imagine why anyone needs more than around 50m in personal wealth, apart from Sheikh Mansour...

 

[Bert Trautmanns Helemet]

A number of Billionaires do a lot of good.
Bill Gates for example