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Bezos and Musk combined increase up $20 billion dollars in one day


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#1 traderx

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Posted 21 July 2020 - 07:06 AM

Super rich, get super richer.



#2 fib_1618

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Posted 21 July 2020 - 08:36 AM

Do they not deserve it?
 

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#3 traderx

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Posted 21 July 2020 - 08:37 AM

yes



#4 pdx5

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Posted 21 July 2020 - 10:04 AM

Super rich, get super richer.

Nobody stopped you or me from getting super rich!

Just admit it, we don't have the brains or guts to accomplish what Bezos & Musk have achieved.

So why should duffers like us be jealous of the super rich?


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#5 orange

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Posted 21 July 2020 - 11:35 AM

I have a problem with those who say we need to tax these billionaires to 75%+ or more. That's obscene and unrealistic. Musk has taken huge risks no one else would even consider to grow his wealth. Our system rewards those risks.

 

My problem is the further tax breaks which have been given to the wealthy and corporations. The 1.5 trillion in tax breaks was an absolutely dumb idea. Majority of the money went to the wealthy at the expense of the middle class tax payers (debt). We all know that money went to buy backs and dividends.

 

How on earth could treasury Mnuchin think it would have increased tax revenues when the majority of money was given to those who don't need to spend? Companies don't give bonuses to their employees because they can. They don't invest in new machinery or technologies just because it's "old" or the paint has chipped. If it was given to the poor, they would have spent it (they can't save). Eventually this money would have reached the top and produced tax revenue along with GDP.

 

Now with the additional trillions in 'free money', the middle class again will foot the bill as companies no longer pay taxes. It's absolutely disgusting how this free money is being handed out. A huge amount of this money went straight into millionaires pockets. I sure would have liked to receive a $5 million handout I can self deal. I'm an idiot for not running some income producing assets under and LLC.


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#6 salam

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Posted 21 July 2020 - 11:41 AM

I have a problem with those who say we need to tax these billionaires to 75%+ or more. That's obscene and unrealistic. Musk has taken huge risks no one else would even consider to grow his wealth. Our system rewards those risks.

 

My problem is the further tax breaks which have been given to the wealthy and corporations. The 1.5 trillion in tax breaks was an absolutely dumb idea. Majority of the money went to the wealthy at the expense of the middle class tax payers (debt). We all know that money went to buy backs and dividends.

 

How on earth could treasury Mnuchin think it would have increased tax revenues when the majority of money was given to those who don't need to spend? Companies don't give bonuses to their employees because they can. They don't invest in new machinery or technologies just because it's "old" or the paint has chipped. If it was given to the poor, they would have spent it (they can't save). Eventually this money would have reached the top and produced tax revenue along with GDP.

 

Now with the additional trillions in 'free money', the middle class again will foot the bill as companies no longer pay taxes. It's absolutely disgusting how this free money is being handed out. A huge amount of this money went straight into millionaires pockets. I sure would have liked to receive a $5 million handout I can self deal. I'm an idiot for not running some income producing assets under and LLC.

Corporate socialism. 


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#7 gm_general

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Posted 21 July 2020 - 12:01 PM

For every Bezos and Musk that truly deserve such rewards because they are geniuses who make good decisions, there are many idiots in charge of other companies who make dumb decisions and still get paid big time via stock awards while their companies go down the drain. In the end the regular people who do the implementation work get fired and these execs take their rewards and move on to ruin some other company. Money has also ruined the medical profession in many ways including motivating a lot of people to become doctors who have no real talent for it.



#8 pdx5

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Posted 21 July 2020 - 01:05 PM

For every Bezos and Musk that truly deserve such rewards because they are geniuses who make good decisions, there are many idiots in charge of other companies who make dumb decisions and still get paid big time via stock awards while their companies go down the drain. In the end the regular people who do the implementation work get fired and these execs take their rewards and move on to ruin some other company. Money has also ruined the medical profession in many ways including motivating a lot of people to become doctors who have no real talent for it.

That is so true! All those golden parachutes for CEO's before company goes bankrupt.

But that is how capitalism works. If government tries to micro-manage corporations it is getting closer to Fascism.

 

In successful Capitalism the bad actors should be allowed to fail. There always will be other more efficient taking over the business. If GM mis-manages the business, and goes broke, because cars are in demand, others will manufacture more.


Edited by pdx5, 21 July 2020 - 01:07 PM.

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#9 orange

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Posted 21 July 2020 - 03:40 PM

Corporate socialism. 

 

Both Democrats and Republicans believe in socialist wealth distribution. The difference is who they want to receive the money and benefits. I'll refrain from going political.


Edited by orange, 21 July 2020 - 03:41 PM.

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#10 pdx5

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Posted 21 July 2020 - 04:49 PM

 

Corporate socialism. 

 

Both Democrats and Republicans believe in socialist wealth distribution. The difference is who they want to receive the money and benefits. I'll refrain from going political.

 

 

The most capitalist country I have visited (among the 36 total), Singapore had the least social welfare.

Singapore does not have unemployment checks, does not have food stamps, or any welfare to able bodied people in  the working age range. Result is Singapore has more millionaires per capita than any other in the entire world. Every 6th Singapore citizen is a millionaire. And unemployment rate was essentially zero when I visited 4 years ago. In fact the unemployment rate in Singapore was minus 33%, because Singapore has such excess of jobs, it has to import 1/3rd of the work force on 2 year work visa's.


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