Who Owns the Future? -
Find out how data mining is widening the gap between the upper and middle classes.
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Monday, 13 July 2020
quote [ Wealth inequality in the United States is out of control. Here we visualize the issue in a unique way. ]
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quaint said @ 6:09am GMT on 14th July
1) Bezos can get to a portion of his wealth. Yep. "He has more money than you or I will ever have" - 100% agreed.
That is his his liquid assets of $1.8bn, or approximately 1% of his "wealth".
2) Of course Bezos can borrow against his shares. That $25bn that JP Chase lend him is also imaginary money - it's just someone else's imaginary money now. It's a fiat currency, and JP
3) Again, agree 100% completely.
My argument is not "pro-inequality". I acknowledge and accept the existence of the mega-rich is problematic. My basic argument is that it can't just be "eat the rich" because no matter how attractive that argument is, what'll actually end up happening is that some other dude gets fatter than the first dude from the eating that he does.
What we need is a system of legislation which enforces corporate social responsibility, that ensures that environmental and social costs are not the price everyone else pays for the success of a few. We cannot exist in a system where people become mega-wealthy, then sacrifice these cows on the alter of society. We need to ensure that mega-wealth doesn't begin to start with, using progressive taxation policies.
But, fuck it,. The people have spoken so I'll take some more -ve karma, thanks.
quaint said @ 6:10am GMT on 14th July
1) Bezos can get to a portion of his wealth. Yep. "He has more money than you or I will ever have" - 100% agreed.
That is his his liquid assets of $1.8bn, or approximately 1% of his "wealth".
2) Of course Bezos can borrow against his shares. That $25bn that JP Chase lend him is also imaginary money - it's just someone else's imaginary money now. It's a fiat currency, and JP Chase are asking people to give them money now on the basis that they'll pay it back Real Soon Now. Behind the smoke and mirrors are....more smoke and mirrors.
3) Again, agree 100% completely.
My argument is not "pro-inequality". I acknowledge and accept the existence of the mega-rich is problematic. My basic argument is that it can't just be "eat the rich" because no matter how attractive that argument is, what'll actually end up happening is that some other dude gets fatter than the first dude from the eating that he does.
What we need is a system of legislation which enforces corporate social responsibility, that ensures that environmental and social costs are not the price everyone else pays for the success of a few. We cannot exist in a system where people become mega-wealthy, then sacrifice these cows on the alter of society. We need to ensure that mega-wealth doesn't begin to start with, using progressive taxation policies.
But, fuck it,. The people have spoken so I'll take some more -ve karma, thanks.
quaint said @ 6:14am GMT on 14th July
1) Bezos can get to a portion of his wealth. Yep. "He has more money than you or I will ever have" - 100% agreed.
That is his his liquid assets of $1.8bn, or approximately 1% of his "wealth".
2) Of course Bezos can borrow against his shares. That $25bn that JP Chase lend him is also imaginary money - it's just someone else's imaginary money now. It's a fiat currency, and JP Chase are asking people to give them money now on the basis that they'll pay it back Real Soon Now. Behind the smoke and mirrors are....more smoke and mirrors.
3) Again, agree 100% completely.
My argument is not "pro-inequality". I acknowledge and accept the existence of the mega-rich is problematic. My basic argument is that it can't just be "eat the rich" because no matter how attractive that argument is, what'll actually end up happening is that some other dude gets fatter than the first dude from the eating that he does.
What we need is a system of legislation which enforces corporate social responsibility, that ensures that environmental and social costs are not the price everyone else pays for the success of a few. We cannot exist in a system where people become mega-wealthy, then sacrifice these cows on the altar of society. We need to ensure that mega-wealth doesn't begin to start with, using progressive taxation policies.
But, fuck it,. The people have spoken so I'll take some more -ve karma, thanks.
<-- Entry / Current Comment
quaint said @ 6:09am GMT on 14th July [Score:1 Underrated]
1) Bezos can get to a portion of his wealth. Yep. "He has more money than you or I will ever have" - 100% agreed.
That is his his liquid assets of $1.8bn, or approximately 1% of his "wealth".
2) Of course Bezos can borrow against his shares. That $25bn that JP Chase lend him is also imaginary money - it's just someone else's imaginary money now. It's a fiat currency, and JP Chase are asking people to give them money now on the basis that they'll pay it back Real Soon Now. Behind the smoke and mirrors are....more smoke and mirrors.
3) Again, agree 100% completely.
My argument is not "pro-inequality". I acknowledge and accept the existence of the mega-rich is problematic. My basic argument is that it can't just be "eat the rich" because no matter how attractive that argument is, what'll actually end up happening is that some other dude gets fatter than the first dude from the eating that he does.
What we need is a system of legislation which enforces corporate social responsibility, that ensures that environmental and social costs are not the price everyone else pays for the success of a few. We cannot exist in a system where people become mega-wealthy, then sacrifice these cows on the altar of society. We need to ensure that mega-wealth doesn't begin to start with, using progressive taxation policies.
But, fuck it,. The people have spoken so I'll take some more -ve karma, thanks.
Episode 45: The Not-So-Benevolent Billionaire (Part I) — Bill Gates and Western Media | by Citations Needed
Episode 46: The Not-So-Benevolent Billionaire (Part II) — Bill Gates in Africa | by Citations Needed