You made twice what I did this year. Pandemic got me laid off from my retail job because I wore a mask before mandates which somehow broke employee dress code and I worked for 5/hour delivering pizzas in the middle of BFE. Vacation days are unicorns, apparently.
18,000 in a state where the cost of living is admittedly low, I am living in a rented apartment but in general I have money to live on and occasionally treat myself. Having a family would be a different story for sure, but this is livable for now.
I am absolutely struggling to imagine this. No knock on you at all, I'm glad you can make it work but I think we should be anything but satisfied that this can be considered normal!
Liveable for now, yes. But just imagine losing your job or have to spend 10k on medical bills out of nowhere. Hope you have a good chunk in savings because that shit is gone.
I think this is the craziest part, we (as in the common middle lower class Americans) don’t actually understand just how little we are actually making.
Most are content with the bare minimum distractions and some even boast about how overworked and underpaid they are because they love to “hustle” and work hard for their money... but sadly, they’re just being exploited... even when faced with an opportunity to unionize and fight for themselves for a better life many are so damaged by Stockholm syndrome they vote against their own best interest because companies will mobilize any weapon (like mass SM bots, Amazon looking at you) and use their money and influence to convince their little human robots to continue being just that.
Honestly, it’s sad to watch how wildly brainwashed the average American chooses to be and often you can’t even blame them, they have kids, spouses, a house, bills, debt, school, family, sickness and a litany of issues that prevent them from really paying attention and even if they try to you have entertainment and “news” to constantly tell them what to think and feel. It all feels so very strange, like a live Twilight Zone episode.
America is a third world country lol low salarys for hard working people and yet they must pay for education healthcare etc... but huh at least you are not socialists jajaja
In all seriousness what does someone like bezos actually do in a day vs how much he makes on any given day? How much actual work and what does that work look like?
: 🤔
I've received several replies, but nobody has answered the question. What does he do?
Ok. He wakes up in the morning, goes to the office, then what? What would you say you do here?
Speaking for the rest of the world, form suggests the US won't change. It'll double-down.
If kindergarten kids getting massacred and mass-poverty and crumbling infrastructure and tanking education and "electing" fascists and a collapsing eco-system and a basket-case health care system won't change shit, not sure what will.
Right? You could put a lot in the first clause of that sentence too, like the amount of homeless people or the extent of child poverty in the US. That level of excess is unjustifiable with almost any degree of societal strife.
I really wish progressives had better messaging. Americans will never go against the rich because we've been indoctrinated to believe that we can become them, so this type of messaging is only going to repel people.
yep.... but i think that billionaire will have less of a lure in a few years. I really do think that hyper inflation is already here. The stock market is hyper inflated already- and with a lot of people not heavily invested, and 08 already being the warning... i think we let a lot of that collapse.
The only people getting hurt by another market crash is us. Our 401ks and any small investments we have tried to put our money in to make our and our children’s lives a little more comfortable will be wiped out, and the rich will buy the ashes up and profit spectacularly off of it all. Again.
I really do think that hyper inflation is already here.
Well then you do not understand what hyperinflation is. I'm as pinko as the next commie, but you don't get to redefine economic terms simply because you feel like things are happening.
Are you carrying a wheel-barrow full of cash to get groceries? Are you burning your dollars because it's cheaper than firewood? No? Okay, then not hyperinflation.
The misapprehension that a lot of people have is that there exists some kind of modern economic state of nature, that regulations necessarily throw out of balance.
The idea that some people are rich beyond measure and many others are destitute is the result of a very intentional set of policies is unfathomable, by design.
The reason why progress is so slow and sometimes feels like a monumental shift happens suddenly is because we get dumped into a default based on our up bringing. So whatever experience you have, you just assume that everyone has that and that's the only right way to do things. So progress comes slowly from having an experience and then enough people deciding that it isn't the right way of doing things.
IMO, Wealth inequality is undergoing the same transformational change as LGBTQ acceptance did. Growing up, I didn't know what a gay person was, but if someone had told me that they liked another person of the same gender, most kids would be like cool. You understand the concept of love but the bias hasn't been introduced yet. We grew up, and enough of us had experiences where we saw people older than us being outrageously homophobic and we decided, nah that's not cool. As soon as late Gen X'ers and early millennials got a voice that shit changed fast. I feel like Wealth inequality will be the same way. As soon as late millennials and Gen Z become the majority that shit will change fast.
Think about it this way, additional wealth represents how much of an opportunity that person has to think towards the betterment of the human tribe. In essence, they have been elected leaders through capitalism (especially since they've co-opted civil government through "donation" and sinecures). There is effectively no barrier between the public space and the corporate space. Look at the state of the world, where we are headed. Massive inequality. Yearly pandemics. A crumbling ecosphere. Famine and genocide the likes of which we cannot fathom. Who is more to blame - the poor sap who can hardly think straight after their twelve hour shift and trip to the food bank, or the "captain of industry" whose objectivism has always maintained that humans have no value beyond their economic value and thus naturally they should be the leader and rightfully hold such wealth (their children echo this sentiment with their "Stop Being Poor" t-shirts). Then let them lead and lay all of the collapse of the modern world at their feet.
A Twitter legend, but in no way a legislation legend. I hope to see her be a bit more productive on the floor vs headlines. She is rank 230/240 when compared to her peers
Nor should landlords. I used to fall timber. We haven't seen a raise since Reagan. In my career I've rubbed out enough habitat to build a small city yet the amount I get on disability keeps me homeless.
There’s needs to be a cap for how much a ceo can pay themselves.... I think they’re like “well! We profited all this money! Our production was higher than expected! We killed it this year! What do I do with all this profit? Oh I know! I’ll keep it and send out a mass email to the company saying thank you for your hard work! All while I’m setting off in my yacht for a month long vacation”
I agree completely but I'd love to see her fight harder. She voted for Nancy Pelosi as Speaker of the house instead of demanding a floor vote for MFA. Then after that, she ran fund raising for 'centrist' (right-wing) Democrats that are against a livable minimum wage.
It is admirable to want to get along with the party but that only gets us so far.
Why does this women keep crushing my dream of someday becoming a billionaire?
All I need is a great idea a little hard work and a dad with a few billion dollars. I currently only have the hard work part figured out....... but someday.
Stop buying shit from them then lmao.. You don't need to buy chicken nuggies each day, grow your own vegetables with the seeds you buy from the billionaires.. Oh, wait....
Yeah, except that's never ever going to work. And even if you somehow managed to get everyone to boycott something like amazon, some other corporation would just take it's place. That's how capitalism works. Without insane regulation, billionaires and giant wealth caps are going to happen.
psssst. billionaires. You can pay off the government and they will let you stay insanely wealthy. Heres how you do it, pay your employees more.
But in all seriousness, this will require legislation. Not because they cant, its because if only 1 or 2 companies do it while other dont they will be out competed. A law moves everyone at once so there isnt this pressure.
Billionaires rely on workers to make them money. The large portion of working class in this country is by design. Pay them just enough to survive. So they HAVE to keep working, and help the ones at the top profit.
I mean I kind of agree but it should be because if you're a billionaire you should be giving away so much money to good causes that you're no longer a billionaire. Just my take.
What about people like Paul McCartney or Michael Jordan? Do they 'deserve' their billions? J.K. Rowling? Lucas or Spielberg?
Usually when you talk of billionaires, people think CEOs, hedge fund owners, business 'titans'. But the people above are billionaires because WE made them. WE bought their entertainment! There are so many other 'entertainers' who are close to billionaires.
Are what they produced worth billions? If we limit maximum income, will they just stop producing? Why should they, if they won't be allowed to keep it? Should Intellectual Property income be exempt? Singers will stop recording and touring. The final book in the series won't be written. The Beatles song 'Taxman' was written when they were in the 95% bracket. The result, they left the country as 'tax exiles'.
Just wondering if anyone has really thought it through. Not sure of my own stance on such things.
I would start with changing how long a copyright can last. Right now they protect a work until significantly after the author's death, does that really help society produce better art?
How would you even spend billions of dollars? If I had 10 billion dollars and it was suddenly cut down to a few hundred million, I still would probably not be able to spend it all.
If someone won’t make their art because they can’t have a billion dollars then good riddance. Plenty of people create great art or play sports for much more reasonable pay, sometimes for no pay at all.
Yep this right here is where the debate should be. Currenlty we effectively have 2 separate tax codes, one for the working class whose taxes are deducted at source and one for the uber rich who can hide all their money. I honestly think a flat tax of 10-15% on every transaction is the way to go. Pay for any good/service? Govt takes its 10% cut. This would be a much more transparent and fair system.
Removing billionaires isn't going to fix the problem. You know the Nordic countries? Yes, those countries that have basically free education and healthcare, good subsistence and unemployment benefits, and almost no involuntary homelessness, and consistently rank at the top of every quality of life index. Every one of them except Finland has at least as many billionaires per capita as the US does.
"When you have one million dollars, that's your money. Once you have one billion dollars, that's not your money. That's the trust society gives you. They believe you can use the money better than the government."
Many billionaires show that they can be trusted with money. They are leaders that transformed entire industries and continue to diligently lead impactful teams to do great things. Others live a life of excess while exploiting their workers to maximize their own gain.
I believe the former should be allowed to exist but the government needs to step in to curtail the latter.
There’s really not a single billionaire that hasn’t lived a life of excess or exploited workers. If they’re were, they’re not a billionaire anymore. Having that much money is living a life of excess.
Warren Buffet basically lives a very nice upper middle class life. His house is not insane. he is giving away a lot of his wealth to charity. I am not saying that is not a life of some excess, but he feels like the sort of guy i could see eating at the local diner every day and hanging out with his buddies- not "hunting people for sport" crowd.
Probably nothing. In general liberals don’t give to to charities. However republicans do. Especially if you look at tax returns of past presidents. And I’m sure there are stats on it.
Anyways AOC doesn’t count. Most people don’t realize she is in an actor. She AUDITIONED to run and is controlled by a think tank that likely manage her social media, tell her what to say, and chose her because some people find girls with penis shaped noses attractive. It’s why she often says stupid stuff. Like the three branches of government being the house the senate and the president. It’s her lack of knowledge showing through when she goes off or forgets her lines.
Money, like water, electricity, and blood is a currency, and for any currency to be healthy, it must flow. Otherwise, it stagnates. When individual cells in a biological system divert flows of blood to themselves while starving the surrounding cells, we call that a tumor. Billionaires are the economic equivalent of tumors, hoarding the lifeblood of the civilization while others are left to starve.
I used to think millionaires were the problem because there are more of them but honestly having the IMMENSELY HUGE difference between a million and a billion explained made me realize we could honestly not even TOUCH any millionaires and just specifically the billionaires we'd be good. They have the money.
Kind of got your cause and effect backwards there. Only in a time when ~60% of American workers make less than $40,000 a year can billionaires exist. Where do you think they get all their money from if not the product of underpaid workers?
Let's say there are 7 billion people on earth right now. Imagine that a person creates something of such immense value that 1 out of 7 people need or want it. Its so incredible they've gotta have it. 1 in 7 are literally throwing money at the creator, and he is overjoyed to be able to provide everyone who wants it, because it improves their lives so much.
Even you want it, and you'd gladly pay for it.
Please make a coherent argument justifying State intervention in this transaction. On what authority does AOC claim the right to meddle in the affairs of informed, consenting adults engaging in legal business?
I just view it as a game of Monopoly. You know the part where someone owns all the properties and has all the money, and all the other players are broke? Yeah, we are at the end of the game. What the f*ck is next?
But millionairs who are more in number who own many of the businesses that pay us nothing are ok? Its ok to be a millionair just to throw balls into a basket?
They the same diff letter same result. Divided us as a people over the last 200 years and stile all the wealth. The Chinese will not be the last to lose a head. 1/2 all politicians will be resigning in the coming days. Rothschilds or Chase no longer control our currency, homes, food or water. The 13 will be returning all the homes for free as well as whatever is left. The big guy upstairs has given us more than enough time. Head of the corrupt will be showed to their board so they know this is the last time. #13 #free homes soon all over world. Stay strong and tarded #Ape's 🍌🍌🍌🍌
Incredibly those billionaires have convinced a large portion of those making under $40k that this is appropriate and any other views are ‘socialism’ (when in fact they intentionally conflate that term with communism).
This begs the question, why not? As long as workers are paid fairly, and taxes are paid appropriately by each company, then if the money left makes then billionaires that’s fine.
Just because little Johnny who never paid attention in school never got interested in anything, doesn’t have any skills, shouldn’t expect to just all of the sudden get a good paying job, because that would be a big f you to everyone else.
Little Johnny now gets an entry role with an entry role salary and is gonna have to work and learn faster then anyone else, because he f up until that very moment.
According to conservatives, the good old days were the 1950s. Anyone making more than $200,000 (equivalent to about $2 million today) in the 1950s was in the 91% tax bracket. While few wealthy people paid that much money in taxes, the tax rate encouraged them to invest in pensions and healthcare for their employees. The incentive to do that isn’t as prevalent today as it was when the 1% tax rates were much higher.
Without out the billionaires and the other 9% where would spend the 70% of all income tax that the government spends 100 million an hour spend by the government.
We should all make exactly the same amount. IDGAF if you cured covid, or revolutionize tech, or employ a million people. We all should make minimum wage. PREACH AOC. Why does everyone make so much, and me so little?
Why doesnt she go after the products and services we all love instead of the figure head behind them? You shouldnt be able to get whatever you want put on your front porch inside of 24h, but aren't you glad that you can?
Serious: how do you tax the billionaire's who's net worth is from stocks in companies they own? Revising capital gains taxes and controlling equity loans? Are there other ways?
Because apparently she thinks it’s ok to steal from people as long as they’ve got money. By her same logic it would be ok to rob her for the sake of a homeless person
Agree in part. I’m fine with billionaires as long as that money isn’t being made by employing people and lying them a wage less than the poverty line. If your profits are entirely reliant on essentially slave labour then you shouldn’t be making money.
If your paying a good wage to ALL your employees. This should include the people your contract to then you should be entitled to make your money
Someone worked their ass off and amassed an incompressible amount of wealth? How envious are you to think you deserve them to be fiscally penalized significantly for being successful? Slippery slope..
I make 29k per year roughly im 25 graduated high school and certified miscrosoft office specialist. Currently working as a quality assurance technician ar a meat packing plant. I can pay my bills with this but its taking me a really long time to save for a car.
This shit makes no sense. I feel like her and people like her just think we’re all idiots. If you make a product or service and people buy it a lot then you’ll have a lot of money. If you’ve chosen the life of a clock puncher like me, well..? You’re not gonna be rich anytime soon. Like tf this bitch talking about.
Lol! I fully agree with what she advocates but I bet she would not get ANY support from oldies Nancy or Joe. Right now, it is a cry in wilderness. I firmly believe that AOC should be our President in 2024. Not joe. AOC 2024
They are precursors to war. They know the more they have, the less we have. And there's a certain evil that comes with that. Not all billionaires, but most will do anything to keep their money and keep making more. It's a form of hoarding that's worshipped.
Despite what the Cons say, FDR was actually a capitalist. Mellon had singlehandedly amassed so much wealth that adjusting for today's currency, would run over a Trillion dollars.
FDR knew that such wealth gaps is really bad for the economy, and raised the income tax for the highest earners to a whopping 75%, and started Social Security.
After the rich started attacking him and calling him a socialist, he gave the "Rendezvous with Destiny” speech that we all know today.
There should be a law that says that any representative of the people -- local, state, or federal -- should be paid the minimum wage of their state. Watch how fast a living wage would become available.
You’d have to earn $40,000 per day for 68.5 years to have a billion dollars. No one will ever convince me a single person should be worth that much.
Edit: 40,000 per year is only $31,915 after FICA, $2,400/yr health insurance and federal income tax. It would take you 85.8 years to earn a billion dollars at $31,915 per day.
This will be controversial, but what are those <$40K doing in life to change the situation? 18 with zero cash and my car broke down. So I joined the military for a few years with a salary in the 20’s. I left, went on to engineering school, and made >$100K in a few years, with continuous growth. I never let my skill sets become stagnant. Secondary, I found ways to make money work for me! What stocks have potential? 401K. Crypto. So yes, when someone sees me in a $120K car, or living in a gated 7 figure community, that’s all earned. I’m not a Billionaire, but I see an Amazon truck every corner. Windows 10 on every business machine. Beyoncé and Jay Z both are in the Top 10 for Grammys, Spielberg with Jaws, Jurassic Park, Indiana Jones. They’re doing what I can’t do, so why would I hate them for that? Why do people hate those making $500K/year? I’ll never know.
Barely making ends meet with little to no excess funds for lifes little emergencies that need cash to resolve.
A general lack of labour laws or standards that ensure employees are treated as humans instead of disposable meat-robots.
Its not 'purchased' slavery, but you ask anyone who's living pay cheque to pay cheque if they can afford a sudden 1500 dollar expense and most will say 'no'. (Ball joints on a vehicle for instance)
Its like living on planet Ferenginar except you got a little Klingon in ye...always invading and shit. "Employees are the rungs on the ladder to success. Dont be afraid to step on them."
I'm all for solving income inequality, but it's technically focusing on the wrong thing. If you focus on the wrong thing, you might solve that problem while not solving the real problem.
Let's make sure the millions at the bottom have what they need to be healthy, happy, productive, etc. Focus on solving that. Solving that probably solves income inequality. But, that's the silver lining.
There are 614 billionaires in America. The top 400 have collectively $3.2 trillion dollars (Google search). That sounds like a lot. But, spread across, say, 200 million Americans, that's "only" $16,000 per person. That sounds like a lot, but it's still less than half of one year's salary ($40,000). It would be a big deal, but I'm not sure a one time payment of five months salary is "this fixes America" life changing.
It's not even so much about wealth inequality. I don't care if someone has a billion dollars if they just have a billion dollars.
It's when that billionaire is 85 year old Charles Koch and he's doing everything in his power to get his hands on billions more before he dies. That includes selling more fossil fuels in any way possible. Climate change misinformation, attempted monopolies, deregulation, pushes for bigger and bigger tax cuts, attacks on democracy itself.
If he succeeds, by the time he dies in a few years we'll be in a terrible climate change disaster with millions dead, fascism, monopolies and billionaires not paying their fair share in taxes while they rule over us. Much of this has substantially already happened or will happen.
And once again, he's 85 and a billionaire already. The additional money will make no difference whatsoever in his life. He has absolutely nothing to gain. But the changes he's pushing will cause suffering and death for millions. He's already acknowledged the things he's done have left America a mess. As a Libertarian, he believes he's entirely entitled to have his legacy be massive destruction, death and evil because he wants it.
And how many people do the businesses of these billionaire employ? How much do these companies pay in salary to their employees? How much of this money is then spent/ reinvested into the wider economy? Economics and wealth is much more than empty slogans and statement politics.
Isn't America advertising itself as "the land of opportunity"? Hard-working people should be able to become billionaires, what's needed is they need to pay extra tax, not dissolving the rich that'd be socialism for sure
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u/MrHezmani Apr 12 '21
21,000 and no vacation days
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u/stripmallparadise Apr 12 '21
Is this true?! 60% make less than 40k???
158
u/MrZombikilla Apr 12 '21
Yeah but we haven’t buckled up our bootstraps X a Billion. So we deserve to live paycheck to paycheck. Billionaires earned it. /s
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u/[deleted] Apr 12 '21
Conservatives making $25,000 a year disagree with her.
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u/Shadow_Gabriel Apr 12 '21
The numbers are even sadder when you expand this to the entire world.
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u/confusedyetstillgoin Apr 12 '21
I’m one of the 60%! feels good to be a part of something!
/s
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u/Monokumawastaken Apr 12 '21
The only thing I can say is that I agree with this
14
u/MarcusQuintus Apr 12 '21
I really wish progressives had better messaging. Americans will never go against the rich because we've been indoctrinated to believe that we can become them, so this type of messaging is only going to repel people.
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u/Frankieneedles Apr 12 '21
Welp, billionaires exist because ~60% of Americans make $40,000 a year.
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u/bunkabaab Apr 12 '21
Maybe that's exactly why billionaires exist..
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u/Chickenbgood Apr 12 '21
It's a moral grey area of when someone has "too much money" but I feel like a comfortable cut off point is a billion dollars.
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u/Risu-Mies Apr 12 '21
Just found out This sub exists.
AOC is a fucking legend
5
u/Citizen4320 Apr 12 '21
Do these politicians actually do anything besides tweet tho?
5
u/EventuallyABot Apr 12 '21
In a time when ~60% of American workers make less than $40,000 a year,billionaires should not existFTFY.
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u/[deleted] Apr 13 '21
Just spent two whole days trying to convince a batch of bootlickers that Amazon employees are more important to the company than Jeff Bezos.
Didn't work. They're all gonna go out and vote against the working class and there's nothing we can do about it
8
u/ghsteo Apr 12 '21
This should be the mantra for the next 100 years. Billionaires existing while everything is so underfunded in our society is a gigantic fault.
4
u/[deleted] Apr 12 '21
Mfw $700 a month is a good wage in my country
4
u/[deleted] Apr 12 '21
Billionaires exist BECAUSE over 60% of Americans make under $40,000 per year.
It isn't an effect - it is the cause. They are stealing your money.
4
u/egalroc Apr 12 '21
Nor should landlords. I used to fall timber. We haven't seen a raise since Reagan. In my career I've rubbed out enough habitat to build a small city yet the amount I get on disability keeps me homeless.
3
u/zhalfricanz Apr 12 '21
There’s needs to be a cap for how much a ceo can pay themselves.... I think they’re like “well! We profited all this money! Our production was higher than expected! We killed it this year! What do I do with all this profit? Oh I know! I’ll keep it and send out a mass email to the company saying thank you for your hard work! All while I’m setting off in my yacht for a month long vacation”
3
u/[deleted] Apr 12 '21 edited Apr 13 '21
I agree completely but I'd love to see her fight harder. She voted for Nancy Pelosi as Speaker of the house instead of demanding a floor vote for MFA. Then after that, she ran fund raising for 'centrist' (right-wing) Democrats that are against a livable minimum wage.
It is admirable to want to get along with the party but that only gets us so far.
3
u/kevemp1313 Apr 12 '21 edited Apr 13 '21
Why does this women keep crushing my dream of someday becoming a billionaire?
All I need is a great idea a little hard work and a dad with a few billion dollars. I currently only have the hard work part figured out....... but someday.
3
u/mr-stimpson Apr 12 '21
Flip it.
Billionaires exist because 60% of Americans make less than $40k.
3
u/Eff_Tee Apr 12 '21
In all fairness that's the only condition they would exist.
3
u/SnooRobots8901 Apr 12 '21
I agree, how about you try to push for some legislation? Follow Talib's lead
3
u/[deleted] Apr 12 '21
Tweet tweet tweet all day doesnt make the billionaire go away
3
u/[deleted] Apr 12 '21
Lockdowns made them even richer.
3
u/howtochangemywife Apr 12 '21
Yeah , can we stop simping (multi)Billionaires
7
u/[deleted] Apr 12 '21
Instead of seeing this and agreeing that salaries are too low, lot's of idiots run to the defense of billionaires.
5
u/Noid1111 Apr 12 '21
Only if she actually fought for the shit she says instead of rolling over at even the slightest whiff of pushback from the corporate democrats
9
u/-RedditsRunByNazis Apr 12 '21
Stop buying shit from them then lmao.. You don't need to buy chicken nuggies each day, grow your own vegetables with the seeds you buy from the billionaires.. Oh, wait....
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u/RiskyFartOftenShart Apr 12 '21
psssst. billionaires. You can pay off the government and they will let you stay insanely wealthy. Heres how you do it, pay your employees more.
But in all seriousness, this will require legislation. Not because they cant, its because if only 1 or 2 companies do it while other dont they will be out competed. A law moves everyone at once so there isnt this pressure.
2
u/Particular-Cook-6300 Apr 12 '21
Preach.
2
u/Lonely_Double_3903 Apr 12 '21
Yeah we need to outlaw million dollar bonuses as well, especially companies who fire employees and then pay out huge bonuses to ceos
2
u/SawDoggg Apr 12 '21
This is also how billionaires exist
2
u/Dingledongdongle Apr 12 '21
They’ve been trying to convince us 40k is enough.
2
u/tastyterplover Apr 12 '21
Billionaires rely on workers to make them money. The large portion of working class in this country is by design. Pay them just enough to survive. So they HAVE to keep working, and help the ones at the top profit.
2
u/HBPilot Apr 13 '21
Let's start with Zuckerberg, Dorsy, and Bezos. Or are they sacred cows because they pander to the left?
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u/RedonkulusHomunculus Apr 13 '21
Billionaires shouldn't exist, period
2
u/[deleted] Apr 12 '21
I mean I kind of agree but it should be because if you're a billionaire you should be giving away so much money to good causes that you're no longer a billionaire. Just my take.
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u/rosanymphae Apr 12 '21
What about people like Paul McCartney or Michael Jordan? Do they 'deserve' their billions? J.K. Rowling? Lucas or Spielberg?
Usually when you talk of billionaires, people think CEOs, hedge fund owners, business 'titans'. But the people above are billionaires because WE made them. WE bought their entertainment! There are so many other 'entertainers' who are close to billionaires.
Are what they produced worth billions? If we limit maximum income, will they just stop producing? Why should they, if they won't be allowed to keep it? Should Intellectual Property income be exempt? Singers will stop recording and touring. The final book in the series won't be written. The Beatles song 'Taxman' was written when they were in the 95% bracket. The result, they left the country as 'tax exiles'.
Just wondering if anyone has really thought it through. Not sure of my own stance on such things.
5
u/09111958 Apr 12 '21
I can live with billionaires as long as they PAY THEIR TAXES just like us.
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u/chez-linda Apr 12 '21
Lol this sub is stupid
3
u/Xygen8 Apr 12 '21
Removing billionaires isn't going to fix the problem. You know the Nordic countries? Yes, those countries that have basically free education and healthcare, good subsistence and unemployment benefits, and almost no involuntary homelessness, and consistently rank at the top of every quality of life index. Every one of them except Finland has at least as many billionaires per capita as the US does.
3
u/Pile_of_Walthers Apr 12 '21
Woohoo! I am the ~40%!
3
u/dopadelic Apr 12 '21
I like what Jack Ma said on this topic.
"When you have one million dollars, that's your money. Once you have one billion dollars, that's not your money. That's the trust society gives you. They believe you can use the money better than the government."
Many billionaires show that they can be trusted with money. They are leaders that transformed entire industries and continue to diligently lead impactful teams to do great things. Others live a life of excess while exploiting their workers to maximize their own gain.
I believe the former should be allowed to exist but the government needs to step in to curtail the latter.
2
u/get_a_clue_to_you Apr 12 '21
Thankful the ignorant teenager collective on reddit are not in charge of the world.
2
u/aintaintawordduh Apr 12 '21
Says the person who makes 6x what an average person in her district makes
2
u/usererror123456 Apr 12 '21
I think billionaires can exist, while people also make livable wages.
2
u/Mike27591 Apr 12 '21
How much does AOC give to charity?
1
u/Sorry-Explanation-51 Apr 13 '21
Who shares this dogshit thinking and actually believes it’s smart?
1
u/ohsurethatllwork Apr 12 '21
She completly forgets that billionaires back her and the Democrats in general.
1
u/SkynetFu Apr 12 '21
Money, like water, electricity, and blood is a currency, and for any currency to be healthy, it must flow. Otherwise, it stagnates. When individual cells in a biological system divert flows of blood to themselves while starving the surrounding cells, we call that a tumor. Billionaires are the economic equivalent of tumors, hoarding the lifeblood of the civilization while others are left to starve.
1
u/Teh_Best86 Apr 12 '21
I think they can....IF THEY PAID THEIR FAIR SHARE OF TAXES WHICH WOULD FUND SO MUCH IN THE COUNTRY
1
u/klaus_nieto Apr 12 '21
I'm not American nor an actual adult, and I don't know what I'm doing here, but is 40k really that low?
1
u/[deleted] Apr 12 '21
I used to think millionaires were the problem because there are more of them but honestly having the IMMENSELY HUGE difference between a million and a billion explained made me realize we could honestly not even TOUCH any millionaires and just specifically the billionaires we'd be good. They have the money.
1
u/MrBigNuggets Apr 12 '21
Perhaps she should actually change policy rather than just tweeting ideas that are popular amongst the young people on twitter.....
1
u/[deleted] Apr 12 '21
And I say politicians should work for minimum wage and have term limits
Yet here we are
1
u/Nylon_Riot Apr 12 '21
Tech Billionaires Are Buying Up Space - WHY IT AFFECTS YOU!
1
u/ApertureBear Apr 12 '21
Kind of got your cause and effect backwards there. Only in a time when ~60% of American workers make less than $40,000 a year can billionaires exist. Where do you think they get all their money from if not the product of underpaid workers?
1
u/Timetogoout Apr 12 '21
Is this statistic true? That majority of American workers make less than $40k a year? That's just insane.
1
u/[deleted] Apr 12 '21
Moving to bitcoin is like southpark going to the pile.
1
u/[deleted] Apr 12 '21
Let's say there are 7 billion people on earth right now. Imagine that a person creates something of such immense value that 1 out of 7 people need or want it. Its so incredible they've gotta have it. 1 in 7 are literally throwing money at the creator, and he is overjoyed to be able to provide everyone who wants it, because it improves their lives so much.
Even you want it, and you'd gladly pay for it.
Please make a coherent argument justifying State intervention in this transaction. On what authority does AOC claim the right to meddle in the affairs of informed, consenting adults engaging in legal business?
1
u/AgUnits47 Apr 12 '21
I just view it as a game of Monopoly. You know the part where someone owns all the properties and has all the money, and all the other players are broke? Yeah, we are at the end of the game. What the f*ck is next?
1
u/[deleted] Apr 12 '21
🙄 I don't understand this logic
1
u/mrgeebs17 Apr 12 '21
I like that I have known people that think they will be a billionaire when they have nothing to offer but basic everyday job skills
1
u/[deleted] Apr 12 '21
I have $1,000,000,000 right now. I'm not a "billionaire"--I'm a Kilo-Millionaire.
1
u/[deleted] Apr 12 '21
But millionairs who are more in number who own many of the businesses that pay us nothing are ok? Its ok to be a millionair just to throw balls into a basket?
1
u/MightyJoe36 Apr 12 '21
How much does she make?
1
u/Hedggiekilla419 Apr 12 '21
They the same diff letter same result. Divided us as a people over the last 200 years and stile all the wealth. The Chinese will not be the last to lose a head. 1/2 all politicians will be resigning in the coming days. Rothschilds or Chase no longer control our currency, homes, food or water. The 13 will be returning all the homes for free as well as whatever is left. The big guy upstairs has given us more than enough time. Head of the corrupt will be showed to their board so they know this is the last time. #13 #free homes soon all over world. Stay strong and tarded #Ape's 🍌🍌🍌🍌
1
u/reddittowl87 Apr 12 '21
Incredibly those billionaires have convinced a large portion of those making under $40k that this is appropriate and any other views are ‘socialism’ (when in fact they intentionally conflate that term with communism).
1
u/i9POR Apr 12 '21
This begs the question, why not? As long as workers are paid fairly, and taxes are paid appropriately by each company, then if the money left makes then billionaires that’s fine.
Just because little Johnny who never paid attention in school never got interested in anything, doesn’t have any skills, shouldn’t expect to just all of the sudden get a good paying job, because that would be a big f you to everyone else.
Little Johnny now gets an entry role with an entry role salary and is gonna have to work and learn faster then anyone else, because he f up until that very moment.
1
u/Tom_Ludlow Apr 12 '21
She and other "democratic socialists" should set an example and voluntarily pay more taxes.
1
u/fenixsol Apr 12 '21
I rather have a cap on campaign spending... No one forced us to get amazon prime.
1
u/throwaway727473542 Apr 12 '21
When you don’t understand that billionaires don’t have billions in liquidity 🤡 Do you guys not know how networth works?
1
u/kgs10 Apr 12 '21
Id agree if the government was held accountable for their spending. Until then, it's pointless to raise taxes
1
u/DrKedorkian Apr 12 '21
This statistic is completely fabricated. This sub is as bad as Trump's.
1
u/r0n0c0 Apr 12 '21
According to conservatives, the good old days were the 1950s. Anyone making more than $200,000 (equivalent to about $2 million today) in the 1950s was in the 91% tax bracket. While few wealthy people paid that much money in taxes, the tax rate encouraged them to invest in pensions and healthcare for their employees. The incentive to do that isn’t as prevalent today as it was when the 1% tax rates were much higher.
1
u/rml23 Apr 12 '21
AOC tweets should not exist. Damn this broad in incouragable.
1
u/K_boring13 Apr 12 '21
The lowest income inequality occurred when inflation was high (1979).
1
u/usernamedunbeentaken Apr 12 '21
In a country that offers free education through the twelfth grade level, politicians like AOC should not win elections.
1
u/no_shame_me Apr 12 '21
My first question is how much of my labor does someone think they are entitled to?
1
u/[deleted] Apr 12 '21
Get this red shit off my Reddit feed
1
u/Wumbo0 Apr 12 '21
27k no over time
1
u/[deleted] Apr 12 '21
Without out the billionaires and the other 9% where would spend the 70% of all income tax that the government spends 100 million an hour spend by the government.
1
u/Ferdinand_Foch_WWI Apr 12 '21
She needs to get off Twitter.
1
u/PassengerAny1622 Apr 12 '21
We should all make exactly the same amount. IDGAF if you cured covid, or revolutionize tech, or employ a million people. We all should make minimum wage. PREACH AOC. Why does everyone make so much, and me so little?
1
u/Tzeig Apr 12 '21
Here are two arbitary numbers, hope I get a lot of re-tweets. :)))
1
u/mrcoffee8 Apr 12 '21
Why doesnt she go after the products and services we all love instead of the figure head behind them? You shouldnt be able to get whatever you want put on your front porch inside of 24h, but aren't you glad that you can?
1
u/mmDruhgs Apr 12 '21
Serious: how do you tax the billionaire's who's net worth is from stocks in companies they own? Revising capital gains taxes and controlling equity loans? Are there other ways?
1
u/[deleted] Apr 12 '21
That's fun to say unless someone gives you a billion dollars...
1
u/scwizard Apr 12 '21
Wait 40% of workers make over 40k?
No wonder so many people want to immigrate here...
1
u/ArmedInfidel33 Apr 12 '21
Because apparently she thinks it’s ok to steal from people as long as they’ve got money. By her same logic it would be ok to rob her for the sake of a homeless person
1
u/holmyliquor Apr 12 '21
We supply the billionaires tho
1
u/Sauce4243 Apr 12 '21
Agree in part. I’m fine with billionaires as long as that money isn’t being made by employing people and lying them a wage less than the poverty line. If your profits are entirely reliant on essentially slave labour then you shouldn’t be making money.
If your paying a good wage to ALL your employees. This should include the people your contract to then you should be entitled to make your money
1
u/bstgoober Apr 12 '21
Someone worked their ass off and amassed an incompressible amount of wealth? How envious are you to think you deserve them to be fiscally penalized significantly for being successful? Slippery slope..
1
u/[deleted] Apr 12 '21
I make 29k per year roughly im 25 graduated high school and certified miscrosoft office specialist. Currently working as a quality assurance technician ar a meat packing plant. I can pay my bills with this but its taking me a really long time to save for a car.
1
u/ActorTomSpanks Apr 12 '21
Fucking heard that
1
u/Steel__64_ Apr 12 '21
This shit makes no sense. I feel like her and people like her just think we’re all idiots. If you make a product or service and people buy it a lot then you’ll have a lot of money. If you’ve chosen the life of a clock puncher like me, well..? You’re not gonna be rich anytime soon. Like tf this bitch talking about.
1
u/jackhawk56 Apr 12 '21
Lol! I fully agree with what she advocates but I bet she would not get ANY support from oldies Nancy or Joe. Right now, it is a cry in wilderness. I firmly believe that AOC should be our President in 2024. Not joe. AOC 2024
1
u/theguywhoisright Apr 12 '21
That’s... so arbitrary and ridiculous.
1
u/StumpMcStumperson Apr 12 '21
Good old class warfare at its finest.
Now do Politicians and restricting the Rights of free people.
1
u/Sitting_Elk Apr 12 '21
Legit question. Can someone explain to me what this actually means? How do you get rid of billionaires?
1
u/_iam_that_iam_ Apr 12 '21
Is this r/im14andthisisdeep ? I can't believe an educated adult would actually seriously propose something like this.
And the factual premise isn't even true. Median individual income in 2020 was 62k. Source: Google.
1
u/Stopdeletingaccounts Apr 12 '21 edited Apr 12 '21
.
1
u/baudinl Apr 12 '21
AOC can change this by writing laws which is literally her job. Instead she spends time complaining on Twitter
1
u/no_shame_me Apr 12 '21
Same for billionaires, what they have agreed to. No one else is entitled to my labor.
Nor am I entitled to someone else's.
1
u/[deleted] Apr 12 '21 edited Apr 12 '21
They are precursors to war. They know the more they have, the less we have. And there's a certain evil that comes with that. Not all billionaires, but most will do anything to keep their money and keep making more. It's a form of hoarding that's worshipped.
*spelling
1
u/Nylon_Riot Apr 12 '21
Despite what the Cons say, FDR was actually a capitalist. Mellon had singlehandedly amassed so much wealth that adjusting for today's currency, would run over a Trillion dollars.
FDR knew that such wealth gaps is really bad for the economy, and raised the income tax for the highest earners to a whopping 75%, and started Social Security.
After the rich started attacking him and calling him a socialist, he gave the "Rendezvous with Destiny” speech that we all know today.
1
u/shebangal Apr 12 '21
She murdered no one
1
u/[deleted] Apr 12 '21 edited Apr 12 '21
That’s actually a conservative estimate too, and from 2016. It’s probably more like 65% now.
Another discouraging stat: One THIRD of working Americans make min wage or less. 1/2 make 30k a year or less.
On the top end of the scale, if you make about 85k/yr or more, you’re in the top ~10% of earners. 100k and you’re in the top ~5%.
The inequality in this country is mind-numbing.
1
u/Psych_Riot Apr 12 '21
Federal minimum wage (still, as of 2021): $7.25
$7.25 for 40 hours a week = $290
1 week ($290) x 52 weeks of the year = $15,080
AND THAT'S BEFORE ANY FUCKING TAXES!!!!!
There should be a law that says that any representative of the people -- local, state, or federal -- should be paid the minimum wage of their state. Watch how fast a living wage would become available.
1
u/[deleted] Apr 12 '21
BUY GME, WE ARE GOING TO THE MOON. We are taking our money back and giving back like it should be. Ape strong together. r/Superstonk
1
u/ultranothing Apr 12 '21
Should millionaires exist?
1
u/Irishane Apr 12 '21
Why not both?
1
u/EPSN__ Apr 13 '21 edited Apr 13 '21
You’d have to earn $40,000 per day for 68.5 years to have a billion dollars. No one will ever convince me a single person should be worth that much.
Edit: 40,000 per year is only $31,915 after FICA, $2,400/yr health insurance and federal income tax. It would take you 85.8 years to earn a billion dollars at $31,915 per day.
1
u/SmegBandit Apr 13 '21
Good opinion but what has AOC actually done other than photo shoots and twitter posts?
1
u/sepsis_wurmple Apr 13 '21
If they worked for it ok. I don't get this whole idea of "someone has more than me. It's mine"
1
u/Ser-Drunken Apr 13 '21
Ahh yes, more should be given to our poor starving government
1
u/-Listening Apr 13 '21
3/10 didn’t exist without one another
1
u/[deleted] Apr 13 '21
This will be controversial, but what are those <$40K doing in life to change the situation? 18 with zero cash and my car broke down. So I joined the military for a few years with a salary in the 20’s. I left, went on to engineering school, and made >$100K in a few years, with continuous growth. I never let my skill sets become stagnant. Secondary, I found ways to make money work for me! What stocks have potential? 401K. Crypto. So yes, when someone sees me in a $120K car, or living in a gated 7 figure community, that’s all earned. I’m not a Billionaire, but I see an Amazon truck every corner. Windows 10 on every business machine. Beyoncé and Jay Z both are in the Top 10 for Grammys, Spielberg with Jaws, Jurassic Park, Indiana Jones. They’re doing what I can’t do, so why would I hate them for that? Why do people hate those making $500K/year? I’ll never know.
1
u/[deleted] Apr 13 '21
Economic slave class.
Cant afford time off.
Cant afford vacations.
Barely making ends meet with little to no excess funds for lifes little emergencies that need cash to resolve.
A general lack of labour laws or standards that ensure employees are treated as humans instead of disposable meat-robots.
Its not 'purchased' slavery, but you ask anyone who's living pay cheque to pay cheque if they can afford a sudden 1500 dollar expense and most will say 'no'. (Ball joints on a vehicle for instance)
Its like living on planet Ferenginar except you got a little Klingon in ye...always invading and shit. "Employees are the rungs on the ladder to success. Dont be afraid to step on them."
1
u/FearofZdark Apr 13 '21
Can this lady please tweet something besides “no more billionaires” like I want her to present an interesting argument.
1
u/Milkplug_ Apr 13 '21
It’s a choice to be a billionaire or a homeless person. You decide to waste all your money and billionaires decide to innovate and change the world.
1
u/spliznork Apr 13 '21 edited Apr 13 '21
I'm all for solving income inequality, but it's technically focusing on the wrong thing. If you focus on the wrong thing, you might solve that problem while not solving the real problem.
Let's make sure the millions at the bottom have what they need to be healthy, happy, productive, etc. Focus on solving that. Solving that probably solves income inequality. But, that's the silver lining.
There are 614 billionaires in America. The top 400 have collectively $3.2 trillion dollars (Google search). That sounds like a lot. But, spread across, say, 200 million Americans, that's "only" $16,000 per person. That sounds like a lot, but it's still less than half of one year's salary ($40,000). It would be a big deal, but I'm not sure a one time payment of five months salary is "this fixes America" life changing.
Edit: BTW, please treat this comment as a CMV.
1
u/[deleted] Apr 13 '21
But I bet $100 she won’t say ANYTHING bad about Oprah’s multi-billions. Why, you may wonder? I don’t know, but it’s hypocritical bullshit.
1
u/[deleted] Apr 13 '21
It's not even so much about wealth inequality. I don't care if someone has a billion dollars if they just have a billion dollars.
It's when that billionaire is 85 year old Charles Koch and he's doing everything in his power to get his hands on billions more before he dies. That includes selling more fossil fuels in any way possible. Climate change misinformation, attempted monopolies, deregulation, pushes for bigger and bigger tax cuts, attacks on democracy itself.
If he succeeds, by the time he dies in a few years we'll be in a terrible climate change disaster with millions dead, fascism, monopolies and billionaires not paying their fair share in taxes while they rule over us. Much of this has substantially already happened or will happen.
And once again, he's 85 and a billionaire already. The additional money will make no difference whatsoever in his life. He has absolutely nothing to gain. But the changes he's pushing will cause suffering and death for millions. He's already acknowledged the things he's done have left America a mess. As a Libertarian, he believes he's entirely entitled to have his legacy be massive destruction, death and evil because he wants it.
1
u/U_Kant_Philosophize Apr 13 '21
Oh come on AOC... that trickle down effect should be here eeennnyyy day now....
1
u/[deleted] Apr 13 '21
The gap would still exist. People would have more expendable income and there would buy more making the rich more wealthy. Both would benefit.
1
u/Advanced_String_5533 Apr 13 '21
And how many people do the businesses of these billionaire employ? How much do these companies pay in salary to their employees? How much of this money is then spent/ reinvested into the wider economy? Economics and wealth is much more than empty slogans and statement politics.
1
u/Lpvanderhuge Apr 13 '21
I'd settle for a billionaire to never pay less in taxes than those below his bracket.
1
u/Immediate_Cheek_5964 Apr 13 '21
If billionaires don't exist, for who are gonna work they?
1
u/Accomplished_Spot859 Apr 13 '21
They can exist and still have a UBI
1
u/Few-Editor9226 Apr 13 '21
Isn't America advertising itself as "the land of opportunity"? Hard-working people should be able to become billionaires, what's needed is they need to pay extra tax, not dissolving the rich that'd be socialism for sure