Just a little class consciousness to wash down another day of work
42 comments
Point taken, but FYI billionaires don't "earn" a billion dollars regardless, it's almost exclusively because their net worth due to stock ownership makes them a billionaire.
If you bought a house somewhere cheap, and then the eyesore old factory down the road gets torn down, and the land around your house explodes in value, you did not make a million dollars in income, even though your house is now worth that much.
As well, most billionaires live off money they borrow at stupid low interest rates because that doesn't count as income. An accountant would be able to explain in depth but that's one of the way they dodge taxes.
Stocks are just an abstracted way of exploiting workers.
No they are a way of sharing ownership in a company. It is the speculation that occurs in stock exchanges than can lead to negative outcomes for employees.
Ya know, workers can own stocks too. There's even companies that give stocks to employees. Stocks themselves are not the problem.
Ya know, workers can own stocks too. There's even companies that give stocks to employees. Stocks themselves are not the problem.
If only there was a way to convert that stock into yachts... 🤔
Oh I'm not arguing against the absurdity of someone having a networth in the billions, I'm just trying to add clarity that it's the financial industry and tax laws that allow it to happen.
As opposed to just grunting
"BILLIONAIRES BAAAAAAAAD!!!"
Point taken, but FYI billionaires don't "earn" a billion dollars regardless, it's almost exclusively because their net worth due to stock ownership makes them a billionaire.
If you bought a house somewhere cheap, and then the eyesore old factory down the road gets torn down, and the land around your house explodes in value, you did not make a million dollars in income, even though your house is now worth that much.
As well, most billionaires live off money they borrow at stupid low interest rates because that doesn't count as income. An accountant would be able to explain in depth but that's one of the way they dodge taxes.
Stocks are just an abstracted way of exploiting workers.
No they are a way of sharing ownership in a company. It is the speculation that occurs in stock exchanges than can lead to negative outcomes for employees.
Ya know, workers can own stocks too. There's even companies that give stocks to employees. Stocks themselves are not the problem.
Ya know, workers can own stocks too. There's even companies that give stocks to employees. Stocks themselves are not the problem.
If only there was a way to convert that stock into yachts... 🤔
Oh I'm not arguing against the absurdity of someone having a networth in the billions, I'm just trying to add clarity that it's the financial industry and tax laws that allow it to happen.
As opposed to just grunting "BILLIONAIRES BAAAAAAAAD!!!"