Most billionaire wealth is unearned

>>127701800

the cucks of /pol/ would rather delude themselves into being the buttsluts of large corporations though. They like being subs so it's going to be hard to convince them otherwise. Pretending that Trump was going to be different from Hillary in that regard proves it

>>127701800
wow you really made me think OP

>>127701800
>Most billionaire wealth is unearned
try ALL MILLIONAIRE wealth

enslave anyone with disposable income and take their shit

Ah fuck, I can't read the article because I didn't finish the verification can.

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>>127701800
Go on.

>>127702219
I need to order more myself - 100 AustraliaBucks down the drain.

>>127702107
All WEALTH is unearned because fiat paper currency is not real.

You spend your entire fiscal year earning "money" that is not backed by anything and can be devalued by people selling it.

>>127701800
>billionaires have kids
wow really made me think

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commie recruiting thread.
dont reply newfags.

> B-but muh communism
> Gee, marxism sure worked out so well for the soviet union
> Why don't you just get a job anon LOL

As soon as you try to argue that most wealthy people inherited their fortunes & the fact that nepotism is the cancer currently killing the US /pol/ gets triggered

At least rich people in the past used to donate their fortunes to public works projects like schools, grand central terminal for example, etc. Nowadays though donating money to 3rd world countries makes so much more sense

>>127701800
We tried it here in 50s, fun times

>>127702687
>Dude communism work except when it doesn't except when it doesn't except when it doesn't X D
Stalinism is not Marxism, Stalinist Communism looks nothing at all like the Communism Marx described and most Communist countries are Stalinist shit holes because they follow Stalinism.

Real Communism actually hasn't ever been tried.

>>127702675
Theyre not very smart

>>127702645
exactly, remove all disposable income
>You spend your entire fiscal year earning "money"
i'm outside the system sticking it to the man bro
>>127702687
if you look at the french revolution we got rid of all the wealthy people without communism

>>127702904
Marxism/Communism is the methamphetamine of the masses

>>127701800
>b-but real Marxism hasn't been tried!
>it's just that every time people set out to implement it the system ultimately degrades to an authoritarian hell hole!
>magic would work if the spells were just cast properly guys!

/leftypol/ is a haven of retards

>>127702963
>Communist
>Smart
choose one

>>127702675
>alt right echo chamber
top fucking kek

>>127701908
Its just the lolbertarians.

Islam is the answer to the (((fiat money)))/(((fractional reserve banking))) question

>>127702687
>we should give money away for free to the third world
why? let them setup their own infrastructure when they're ready
>>127702675
that picture always feels so emblematic of the childish nature of communists when you get to that last post

>>127703262
Yes swallow that arab cock

No shit.

They don't get an hourly wage. They just let the money do the work for them.

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>>127703262
ALLAHU AKBAR

>>127703118
/pol/ needs to stop mixing up Communism and Socialism.

Communism has tenets of Socialism within it but so does Capitalism. The main distinction is that Communism is designed to stop the worker from getting fucked by his boss where as Socialism is designed to stop the bottom from getting fucked by the top.

As a result this means fundamentally Socialism is more likely to get backed by couch warriors and exploited by Jews while Communism is largely misunderstood. Also, I think a large part of Communism being seen as impossible comes from Russia being a shit hole no matter what they do.

>>127703336
Read the article, it's not getting the money to work for them, it's rent seeking.

>>127703262
Fuck off dumbass.

Egypt has one of the highest inflation rates and bank controls in the world

You've been shilling this pig lad image for over a year and I've still not seen it organically posted anywhere.
>>127703386
Kill yourself.

>>127702675
>>127702687
>>127702841
>>127703133
> People knowing nothing about communism
I never said anything about seizing the means of production or anything, read the article, rent seeking and using cronyism to get government to do favors for one's business interest are a massive problem and being used to actually harm the free market, make it less transparent, efficient, etc. in order to benefit only a few players and decrease actual market competition. If you support capitalism you would support regulations that actually increase transparency and decrease rent-seeking, etc. in the marketplace because they would actually benefit consumers and make markets operate better.

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>>127701800
>rich people didn't earn their money
>poor people are poor because of the "system"
God damnit go back to /leftypol/ faggot

>>127703454
Rent seeking is mostly done through gov regulation

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>>127701800
you uploaded the wrong image, /leftypol/

>>127703325
No need to swallow any cocks, my cock loving Greek friend, simply to enact anti-usury/anti-corruption laws and string up the kikes and bankers. Hey presto you have an economy again.
>>127703527
Fuck off habla, who said you Jew lovers enacted actual Islam at a state level? Silly turd.

>>127703529
>Why doesn't Communism work /pol/
>DA JEWS

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>>127702645
Holy fuck, the ignorance here is staggering.
Yeah, let's switch to a commodity-backed currency where the currency supply isn't correlated to the size of the economy and we'll be hit by one liquidity crisis after another.
Educate yourself. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1905625

>>127703706
>Posts /leftypol/ memes
>Thread is about siezing the rich's wealth
>Totally not a commie

You could at least have been a bit subtle.

>>127703706
>realise government regulation is only going to benefit crony-capitalists
>thinks more regulation would solve the issue
communist-tier thinking

>>127703919
Liquidity crises that would be artificially created by the big banks.

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>>127702904
>Real Communism cannot be implemented because it ignores basic human nature to a further extent than any other system ever invented.
FTFY

>>127703915
Because it is based on the fantasy that everyone is equal in ability, would just get along if not for money, and then invariably turns into an opressive dictatorship when this turns out to *be* a fantasy and they need that to try and force it.

>>127704080
You say that, but the US constitution has prevented more cronyism than anything else.

>farmer
>she

fuck off

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>>127701800
Yes 40% tax on every dollar over 5.4mil simply isn't enough

>>127704096
What are you going on about? They would come about because the monetary base needs to expand the increased size of the economy, and there is very little correlation between gold being mined and the size of the economy, thus there is never the optimal amount of currency in circulation. You're not only ignorant, but unwilling to educate yourself despite being spoonfed information, which is unforgivable

Go away /leftypol/. If you actually want to discuss communism there is a general for that but if your trying to subvert at least make it a little less obvious

>>127701800
>>127702604
>Most billionaire wealth is unearned
True
>this is a problem with capitalism
>implying this is capitalism
Problems with a MIXED ECONOMY a.k.a. semi-socialism, niggerfaggot. Under laissez-faire, all wealth would be earned because there's no way to cheat or steal from people. The government is the ultimate cheating, stealing and blackmail agency. It's like the Mafia but for whole countries.

>>127704205
>write constitution based on libertarian principles
>have communists pretend big government fixes everything
this thread. i can't even. you're unironically posting 'real communism has never been tried'. go back to /r/anarchism please

>>127704529
tl;dr FIX YOUR FUCKING WELFARE STATE GOVERNMENT, commies, before you blame capitalism

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>>127702904
>Real Communism actually hasn't ever been tried.

If only we made this unemployable retard emperor of the world, his flavor of communism would be paradise.

It never ends with these cretins.

>>127703386
Lmao dude, basically the whole "communism is actually amazing, it just hasn't been properly implemented" rubbish again. You're either 16 and stupid or older and resentful.

You proved the point I was making with that post

>>127701800
Here OP, let me play out the thread for you....

>Why is this rich person allowed so much money?
Because he earned it.
>How did he earn it, he only collects rent and shares.
Because he invested to begin with.
>How did he get the money to invest?
He inherited it.
>How did his dad get the money?
He started a business and provided a service.
>So this billionaire gets untold millions every month today, because his father used to provide a service 80 years ago?
FUCK OFF COMMUNIST REEEEE I ENJOY BEING A SLAVE AT LEAST I HAVE BREAD REEEEEE mikerowe_pledge.jpg

>>127701800
>We seriously need to address or restructure certain problems with capitalism.

"We seriously need to address or restructure the problem that I am not able enough due to lack of intelligence or lacking the will to acquire the resources I desire. So I blame capitalism itself as an excuse to steal resources from others by using the state as a weapon on my behalf. Please join with me and participate in enabling the government to steal resources from others to give to us."

>>127704812
why would i spend all my time providing a quality service if at the end of the day all of my money is just gonna go to some welfare fucks that didn't earn it rather than my own flesh and blood? what the fuck is wrong with inheritance, getting rid of it only serves to lower peoples time preference

>>127704812
Why should anyone bother to read comments from the EU member with the highest percentage muslim population and the most corrupt government? Bulgarians are the rednecks of Europe.

>>127705104
Then you better call Switzerland, that bastion of money, and tell them to rescind the wealth tax they have on net worth.

>>127705104
>>127705138
I almost replied seriously, but then I saw the flags. Ha ha :D

>>127705242
the lack of representation is bad enough as it is. my point is that i'm not gonna throw away my free time to earn extra money if my family isn't able to enjoy it when i die.

>PEOPLE BETTER THAN ME DON'T EXIST REEEEEEEEEEEEEEEEEE
>HE JUST HAD A GOOD IDEA IT SHOULDN'T BE WORTH BILLIONS REEEEEEEEEEEEEEEE
>THEY SIMPLY EXPLOIT THE LABOUR OF THE WORKERS WHO ALL SIGNED A CONTRACT AND LIVE HAPPY LIVES WITH THE SALARY THEY GET FOR PERFORMING A SERVICE TO THEIR FELLOW MAN REEEEEEEEEEEEEE
>NOBODY NEEDS THAT MUCH MONEY REEEEEEEEEEEEEEEE
>FUCKING BILLIONAIRE CHILDREN BORN INTO RICH FAMILIES DON'T DESERVE SHIT REEEEEEEEEEEEEEEEEEE
>I DON'T FUCKING CARE IF THOSE WHO BECAME BILLIONAIRES THROUGH ILLEGAL OR CORRUPT MEANS ARE A MINORITY REEEEEEEE ALSO #NOTALLMUSLIMS
>I DON'T CARE IF FINDING A TALENTED CEO IS MANY ORDER OF MAGNITUDES HARDER THAN FINDING A "TALENTED JANITOR" THE CEO DOESN'T DESERVE THE SALARY OR THE GOLDEN HANDSHAKE EVEN IF HE BOOSTED THE COMPANY WORTH AND FUNCTIONALITY FOR THE BETTER OF THE ENTIRE NATION SINCE HIS LEADERSHIP CREATED JOBS AND PROSPERITY REEEEEEEEEEEEE
>THE CAPITALISTS WILL HAPPILY SELL US THE ROPE WE'LL HANG THEM WITH #VIVALAREVOLUTION

>>127705261
you're literally retarded. you can't refute my point for why inheritance is good so you just say 'ausposter xDDDDD'. kill yourself subhuman socialist

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>>127705261
Living in Bulgaria from 1980 through 1993 confirmed for me it's a total shithole. Visiting the grandparents there every few years since confirmed for me that it's getting worse all the time, indicating that the fault lies largely in the people. It's a nation of bai Ganyos. Sad!

>>127705496
>bill gates works 10^9 times better than me

>>127703236
aren't lolbertarians the one that choose local business over big business though?

>>127701800
sage

Why do people say that billionaires don't earn their money? The only ones I can think of that inherited are the Waltons, even though their dad started as a single grocery store, and the Rothschilds.

Virtually all the tech billionaires started out as upper middle class

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if this really is a commie shit head thread, i sympathize w/you illiterate retards actually.

read a book on central banking and you'll understand that if we had the same monetary policy as we did in 1964 today, none of would be having this discussion.

>>127701800
the problem with problems with capitalism is that the problems with other economic systems are that much worse. no one in their right mind would handwave away problems with capitalism, it's just that all alternatives hitherto have been shit.

>>127705928
indignation over their own heritage line not accomplishing anything

>>127703236
Pretty sure the lolbergs were the first to start shitting on Trump because he's a big fat mess.

>>127705748
>BILL GATES ONLY FOUNDED AND DIRECTED A COMPANY THAT EMPLOYS MORE THAN A HUNDRED THOUSAND PEOPLE, REVOLUTIONIZED OUR ENTIRE GLOBAL SOCIETY. I'M SWEEPING SHIT OFF THE FLOOR WHICH LITERALLY ANYONE CAN DO I DESERVE MORE REEEEEEEEEEE

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>>127705748
Buck up, comrade, I'm sure the operating system you invented is just as good, and soon the people will take all the rich people's wealth and shower you with gifts.

>>127701800
Feel like most of their money was manipulating foreign countries that had no say in the matter. Would've happened with or without capitalism

>>127705928
Read the article, it's about rent-seeking, not inheritance solely. People who bitch so much in this thread about MUH GOMMUNISM REEEEE haven't even read the article and know nothing about what it's about.

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A major tenant of Communism is that inheritance is given to the commune

AKA the government takes it, making the population stay lower class, unable to pass on stages of wealth cultivation to their next of kin to then bring to a higher stage of wealth cultivation.

>>127706252
>evonomics.com
i mean i don't see why i would waste my time reading it, it's obviously a commie site

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>>127706252
>rent-seeking

Is this some new Marxist buzzword? Can you even define this?

What about all the money they earned to become a billionaire?

>>127706456
essentially it's a complaint about over-regulation by the government. instead of taking a libertarian approach though his idea is that if we just had more regulation and bigger government then we wouldn't have this problem.

>>127706456
No, it's a common term in standard economics but most people on /pol/ are completely ignorant of economics anyway.
> economic rent is any payment to a factor of production in excess of the cost needed to bring that factor into production
> rent-seeking involves seeking to increase one's share of existing wealth without creating new wealth
There are entire fields of study dedicated to this stuff.
https://en.wikipedia.org/wiki/Economic_rent
https://en.wikipedia.org/wiki/Rent-seeking

>>127703706
I was not ironic, it was actually fun times.

>>127706252
You used a commie meme, you dumbass. Do you think we can't see through that lie?
What you don't ever seem to realize is that regulating this shit would just cause them to put their holdings elsewhere, or even outright leave the country.
>b-but every country will implement it
No, because the lure of having so many rich people invest in their country would be far greater than muh inequality.

>>127706765
i still don't understand what your solution is. as long as there's government you're going to have lobbyists manipulating the economy

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>>127702675
>raising class consciousness

>>127706876
> No, because the lure of having so many rich people invest in their country would be far greater than muh inequality.
Then why isn't pretty much every country decreasing taxes on the rich, companies, etc. substantially to attract them? Even if they did that that wouldn't happen as universally as you think it would, there's more to it than that, capital flight isn't as simple as people believe it is.

i was talking to a commie and they truly honestly believe that someone who busted their ass for years and made a few million didn't earn his money

>>127705939
Inflation is always an exponential curve, so there's nothing worrisome about the graph you're showing. What matters is that long as the rate of inflation (the exponent in the mentioned exponential) is constant and set at a limited value. It has nothing to do with whether the economy is "fake" or not. If anything, the Fed has shown it's pretty ineffective in economic intervention because the inflationary spikes caused by shocks to the system such as recessions, not to mention the 1973 oil crisis (which is not clear from your graph because it's exponentially zoomed out from that era), were not controlled by them. Quantitative easing also had pretty limited effect on the economy and just enriched banks -- but that has nothing to do with inflation.
Another problem with your post is blaming fractional reserve lending. Banks are NOT reserve ratio constrained! Banks commonly lend BEYOND their reserves and then simply borrow reservers on the overnight interbank market, and even if they didn't manage that, the Fed would act as lender of last resort (in exchange for collateral from the bank). Banks are constrained, instead, by the capital ratio, the overnight rate (soft constrant -- see lender of last resort comment), and the ability to find loanworthy borrowers. The money multiplier is a myth that has been thoroughly debunked. (Not to mention that loans, which are assets for the banks, are in general immediately put into other banks as deposits, which are liabilities to the banks, and thus cancel out overall).
The real problem with the Fed is relying on montearism as a policy tool when it's very inefficient compared to fiscalism. The best reform would be to merge Fed with Treasury, drop the overnight interbank base rate to 0%, stop issuing government bonds when gov't credits reserve accounts, and use fiscal intervention when needed with actual inflation being the only constraint.

>>127707127
Yes but you can take measures to try to reduce it or come up with a better system overall.
> Just because some system is imperfect means we shouldn't try to improve it at all

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>>127702904
>real communism hasn't been ever tried
Why do they always say this shitty lefty meme?

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>>127701800

That's right, just read up on some Aristotle and his comments on how wealth is acquired.

>>127701908
That's also true. Most of /pol/ has no idea what is actually going on economically and how to remedy it. Trump definitely is not a Goldman Sachs stooge.

>>127702675
Pretty rich coming from Italy. (see: form of economy and government)

>>127702904
He is right, communism has never taken off due to human error. Like other systems, e.g capitalism. The closest was Hitler's socialist Germany.

>>127703386
Implying National Socialists of Germany were couch warriors, as you put it.

>>127704247
The tax used to be much higher, and living standards were much higher during that time. See: mid twentieth-century America.

>>127705610
Correct, it is the fault of human error rather than the system itself. The world as it is now, the hell hole that it is, is the result of unwavering faith in capitalism and that insatiable human greed is alright.

>>127705957
Ah the plight of the uneducated. "Well you see, man, capitalism is just the least worst of them all, man, like, there hasn't been a better system ever invented, man." Good goy.

Remember everyone, please sit back and relax. Get some sleep, your government is in control. Trump is going to save the world for you. You don't have to actually go lift a finger or two, please, just relax, get some sleep, you've earned it. Let your government take care of you, oh, and I almost forgot, please remember to get to your job on time, don't want to be a bad goy now, do you?

>>127707399
it has been tried, it has just never been implemented because it's an ideological utopia

>>127707299
no i'm open to suggestion, if you think of a way to solve the problem that isn't 'well if we just put more regulations in' then let me know.

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>>127701800
>http://evonomics.com/they-dont-just-hide-their-money-economist-says-billionaire-wealth/

I pretty much agree with shit like this. But I hate all you porky-posting, "muh hammer and sickle," tankie cocksuckers. When you address the JQ or when NazBol/Strasserism becomes a thing then I'll consider getting involved with you guys. If I can go to a socialist alliance meeting and it's not full of cancerous feminists, faggots, SJWs and stupid white women with an overrated opinion of themselves I'd definitely consider it.

For now I think Nationialist Socialism is the way to go because the fundamental drive for each individual to do their part is bolstered by the fact that people aren't doing it out of ideology but by genuine kinship to their fellow man.

I hate my taxes going to abos and Sudanese and the extra jacks (cops) we need to barely control them.

>>127701800
You really thought billionaires earned their wealth merely because Bill Gates and Cuckerberg exist? They are the exception to the rule not the rule itself

>>127707629
I have one, and I'm writing a white paper on it. I'll post a summary on /pol/ when I'm done and identify myself as the self-hating Bulgarian from this thread ;)

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>>127701800
Billionaire's wealth dates back to monarchy times when they looted Africa and enslaved Africans and European people so we worked for small beans, paid as much tax as possible, that's how they got rich, then only inheriting that wealth and invest, which isn't work anyway, you are not producing anything when you invest, you only screw people.

>>127707755
Ditto. There's plenty of good material on the evonomics site, and the editor would be horrified to see retarded commies spinning site content into their lame agitprop

capitalism is pure cancer, but full blown commiedom is not the answer.

>>127707755
Any kind of government-private cooperation on the individual level would be infinitely better than what we currently have going on right now. I don't understand why multinational corporations are the only entities the US government seems to care about. There are people at the bottom of the pyramid with ideas and energy who could get the system back on track but it's like the government doesn't care. The US government literally doesn't give a shit

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>>127707164
Stirner posting is one of the only good things to come out of /leftypol/

>>127701800
Let me spell it out for you, in case you didn't understand what really sets a billionaire apart from the pack.

A billionaire has 1,000,000,000 USD. A small factory that employs 20 people costs 1,000,000. What you are implying is that a billionaire literally owns 1000 factories around the world. That is a ridiculous human endeavor that simply would take more than a single lifetime to build up

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>the rich having so much is pretty unfair.
>Wouldn't it be better if we gave the state more control. Then only politicians would be rich.

Communism doesn't work because people will continue to try to get ahead of others. Communism breeds corruption. No there isn't a perfect system but capitolism is pretty damn good.

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>>127706765

I earned my MBA a while ago and didn't hear of this one, then again we used texts other than the communist manifesto.

Origin of the term 1974 by Anne (((Krueger)))

You can change the words but the meaning is the same "waaah, he has more toys than me."

>>127708726
Quit arguing that there isn't a better system, Germany syndicalism was better, Distributism is better. It is better that the government work with private individuals to build up industries than sit on its ass (what it currently does) and let the barrons run everything. It is better that every family own some kind of business, because that way they have a stable income source for themselves at the very least, than work for some huge corporation. All else being equal we have 2 problems in the US and a 3rd being people like you who don't understand that we do not have capitalist system, we have a rigged corporatist system.

>>127708866
I guess Adam Smith was just a cry baby..


You know it's people like you that are quick to flash around their credentials while saying dumb shit that make a civil war inevitable. The poor will merely take your shit if they feel that the legal system is rigged against them.

Rather unimpressive opinion piece.

>>127707292
>nothing to do with inflation

you're mentally ill and probably not older than 15 years old. talk to me when you hit 60 and YOU remember what penny candy was. faggot.

>>127709645
You're mentally ill and probably not older than 15 years old (older than X old? Department of Redundancy Department!) since you're unable to parse a simple post and somehow thing I implied there's no inflation when I obviously did no such thing. I said was that QE had nothing to do with inflation. Which is the case--the reserves added just sat there, benefitting the banks themselves and did NOT enter the wider economy to any significant extent. That QE was not inflationary is a simple fact. (That's not to say I approved of QE--I don't, but for other reasons.)

>>127710088
think*

>>127709312
>The poor will merely take your shit

You mean niggers?

They're welcome to come try. I'm well away from civilization and well armed.

>>127701800
So what, we should steal their shit just because their ancestors worked for it, instead of them?

Wtf is this autism

>>127710254
It's called welfare paid by taxes, jackass

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>>127701908
>>127701800

National Socialists aren't capitalists, and this is a raid thread. Sage hide and report.

>>127710378
Ah, the old myth. Taxes actually don't pay for welfare. The government credits banks' accounts at the Fed out of thin air--"printing money" you might say. Tax collection is separate, and that money gets destroyed. The ONLY thing connecting the two processes is the issuing of T-Bonds when money gets created--which is a purely legal convention and doesn't impact the fact that government spending is NOT operationally funded by taxes, but simply by printing money.
The important aspect of this is that spending (creating money) by the government on welfare or whatever else comes first, and tax collection after. The gap between them is debt, but most of the US debt is held internally and between Fed and Treasury and so is an accounting fiction, like the debt between man and wife. The only real world constraint is not the size of this debt but not creating so much money as to cause inflation.

> Can't talk about wealth inequality without some Ayn Rand reading teenager calling me a commie

Really makes me think

>>127701800
>billionaire wealth is unearned
What is this hate speech against based billionaires!

>>127701800
Look at the faggots ITT defending capitalism and globalization... But then they love to larp about Hitler and being against kikes.

This is why /pol/ is just a source for memes, the real discussion are in Stormfront. You don't find capitalist shills there

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>>127701800
It's okay. Communism will happen eventually.

>>127702687
Most wealthy people are first generation millionaires. people with a net worth of over a million are millionaires and most of these people make around 100k. Kill yourself

Successful people stay rich.

There's a difference between the two.

>>127701800
We need to adress problems with capitalism because corporativists make trillions through coopting the state and robbing everyone.
thats no capitalism chap.

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>>127715880
yu-yu-yuour ju just a gommy

No, the (((financial))) capitalists and and industrial capitalists must be dominated by a national socialist government and forced to prioritize their businesses to benefit the nation and their own people or face nationalization and the gas chamber

>>127714081
HAHAHAHAHAHAHAHAHAHAHAHA

>>127701800
You seriously need to start to work and stop being a useless commie NEET

>>127709312
>flash around your credentials

It's not the job of people who are formally educated and experienced in a topic to listen to the lay person on that topic. When an engineer designs something, they don't listen to the line worker about the structural integrity of a piece of equipment. A lawyer doesn't take litigation strategy from their client. An investment advisor doesn't put all a client's money in one stock.

Sometimes you have to accept that you're the daft person on a topic; but you don't. And that comes off looking like communism and socialism.

>>127701800
Yes it was earned. By their parents or grandparents and so on. And they are entitled to put that money wherever they see fit. Is a man not entitled to the sweat of his own brow?

Fuck off pinko scum.