IF billionaires were removed from the picture, what would be the result?
There would be investment assets in various holding entities that would then be what, up for grabs? Sold off? Put in probate? Trillions in stock alone would suddenly be ownerless. How would that affect the market and the regular person’s investments?
Multiple BoD positions and CEO positions opening up. How would those be compensated? Just make more people rich?
Material possessions originally worth absurd sums now up for grabs to nobody who could realistically afford to use or maintain them (yachts, palatial homes, etc). Manufacturers of luxury goods would vanish (stupidly expensive watches, clothes, cars).
How would you prevent some other greedy, power-hungry f_cks from taking up the reins and putting us right back where we started? There is no point in civilization’s history where greedy f_cks haven’t existed, so how do you prevent their grubby fingers from tipping the scales right back in favor of piling all the money and power in their corner?
What are the unintended consequences?
(This is NOT an argument implying we should keep billionaires, just asking realistically and pragmatically what the result would be should they no longer exist)
The implication that they would all be killed or completely stripped of assets is the problem you’re trying to solve, however, that doesn’t have to be the action taken. Perhaps instead, the 8 billion people of the world decide to enact a society that insists that such accumulation of wealth is obscene and should be curtailed. Perhaps systems could be introduced to make the wealthy more accurately contribute to the society they profit off.
Billionaires become billionaires through exploitation. Exploitation of workers, financial systems, and political power for personal gain. Make them pay for all these things.
Pay for education of the people they use to build their companies. Pay for the healthcare of the entire population, which they degrade with their business practices. Pay for the infrastructure that enables them to do business. The roads, the safety nets, the national parks, the air quality, the water supply, the land they use. Make them pay to replace and repair, fully, any damage their business causes. Polute the stream, pay to fix it. Dig the ground for ore, repair the ground so it can be used again. Make them replace what they take from society for little or no cost because their goods are only affordable because they do not reflect the true cost of production. Make their businesses pay for all these things, and the cost of production will rise to include the true cost of production. At the moment, the shortfall is paid for by we, the people, which enables them to become billionaires. Exploitation.
We don’t have to kill anyone, or strip anyone of all their assets in some revolutionary action. We just have to make them pay the true cost of their exploitation.
Tax the rich. Use those taxes to repay their exploitation. Increase the cost of doing business to include the cost of repairing the impact.
People can still become very wealthy. But society will also become much stronger through the use of the extra revenue to benefit all.
To make this happen will take a revolution, but it doesn’t need to include guillotines, it just needs people to become aware. Sadly, the politicians and media are also owned by the billionaires, making the final step of collective uprising extremely difficult. But humans have done it many times before in the face of adversity, perhaps it can happen again.
The same removal mechanism will need to keep new rich people from getting too rich. In general everything could stay the same in terms of assets if they are divided more equally. Even a billion dollar yacht could be divided and rented out. Who’s paying for a billion dollar yacht vacation when there is no ultra rich? Divide that shit again into 500 admissions for a boat party until it doesn’t make sense to upkeep.
I have no doubt the world will be fine, but the hypothetical we’re discussing isn’t just one or two rich bastards knocking off a year with their legal estate already taken care of in a will…we’re suggesting more direct action assisting their departure en masse - which isn’t going to happen without a lot of other upheaval causing all kinds of economic turmoil that we’re ignoring for the sake of this argument.
Ok, let’s look at this…
IF billionaires were removed from the picture, what would be the result?
There would be investment assets in various holding entities that would then be what, up for grabs? Sold off? Put in probate? Trillions in stock alone would suddenly be ownerless. How would that affect the market and the regular person’s investments?
Multiple BoD positions and CEO positions opening up. How would those be compensated? Just make more people rich?
Material possessions originally worth absurd sums now up for grabs to nobody who could realistically afford to use or maintain them (yachts, palatial homes, etc). Manufacturers of luxury goods would vanish (stupidly expensive watches, clothes, cars).
How would you prevent some other greedy, power-hungry f_cks from taking up the reins and putting us right back where we started? There is no point in civilization’s history where greedy f_cks haven’t existed, so how do you prevent their grubby fingers from tipping the scales right back in favor of piling all the money and power in their corner?
What are the unintended consequences?
(This is NOT an argument implying we should keep billionaires, just asking realistically and pragmatically what the result would be should they no longer exist)
The correct answer is to redistribute their wealth.
The implication that they would all be killed or completely stripped of assets is the problem you’re trying to solve, however, that doesn’t have to be the action taken. Perhaps instead, the 8 billion people of the world decide to enact a society that insists that such accumulation of wealth is obscene and should be curtailed. Perhaps systems could be introduced to make the wealthy more accurately contribute to the society they profit off.
Billionaires become billionaires through exploitation. Exploitation of workers, financial systems, and political power for personal gain. Make them pay for all these things.
Pay for education of the people they use to build their companies. Pay for the healthcare of the entire population, which they degrade with their business practices. Pay for the infrastructure that enables them to do business. The roads, the safety nets, the national parks, the air quality, the water supply, the land they use. Make them pay to replace and repair, fully, any damage their business causes. Polute the stream, pay to fix it. Dig the ground for ore, repair the ground so it can be used again. Make them replace what they take from society for little or no cost because their goods are only affordable because they do not reflect the true cost of production. Make their businesses pay for all these things, and the cost of production will rise to include the true cost of production. At the moment, the shortfall is paid for by we, the people, which enables them to become billionaires. Exploitation.
We don’t have to kill anyone, or strip anyone of all their assets in some revolutionary action. We just have to make them pay the true cost of their exploitation.
Tax the rich. Use those taxes to repay their exploitation. Increase the cost of doing business to include the cost of repairing the impact.
People can still become very wealthy. But society will also become much stronger through the use of the extra revenue to benefit all.
To make this happen will take a revolution, but it doesn’t need to include guillotines, it just needs people to become aware. Sadly, the politicians and media are also owned by the billionaires, making the final step of collective uprising extremely difficult. But humans have done it many times before in the face of adversity, perhaps it can happen again.
https://en.m.wikipedia.org/wiki/State_ownership
The same removal mechanism will need to keep new rich people from getting too rich. In general everything could stay the same in terms of assets if they are divided more equally. Even a billion dollar yacht could be divided and rented out. Who’s paying for a billion dollar yacht vacation when there is no ultra rich? Divide that shit again into 500 admissions for a boat party until it doesn’t make sense to upkeep.
Nationalize the assets
Pretty simple and effective.
The same issues arise whenever billionaires pass from old age or sickness. The world will be fine.
I have no doubt the world will be fine, but the hypothetical we’re discussing isn’t just one or two rich bastards knocking off a year with their legal estate already taken care of in a will…we’re suggesting more direct action assisting their departure en masse - which isn’t going to happen without a lot of other upheaval causing all kinds of economic turmoil that we’re ignoring for the sake of this argument.