Melvyn11:

You miss where I edited my post to add a note. Take note I am not saying that billionaire as a person shouldn't exist, just that the concept of being a 'billionaire' shouldn't exist. Every billionaire is a policy failure.
Once you have more money than you need to live in extravagant luxury for a dozen lifetimes, you don’t need more money.

Billionaires should not exist.

LMFAO.....The only way to get rid of billionaires is to put a 900million wealth cap on them world wide. No one will ever need more than that. Any additional influx of money should go directly into public services.

Melvyn11:

You miss where I edited my post to add a note. Take note I am not saying that billionaire as a person shouldn't exist, just that the concept of being a 'billionaire' shouldn't exist. Every billionaire is a policy failure.
Once you have more money than you need to live in extravagant luxury for a dozen lifetimes, you don’t need more money.

Billionaires should not exist.

Pls explain what you mean by the bold

There are people who create solution to big challenges in the world, how should they be compensated? Human nature is intrinsically greedy, Greed is what drives the world. Greed is why you want to make more money. Greed is why you want to drive a Gwagon when a bicycle or Toyota can do the same

This same greed is what drives people to do beyond their normal ability, Greed is what makes people sleep in labs finding solutions, studying hard courses, making intensive research, Ronaldo training for 16hrs a day

Greed is a good thing, Greed drives innovations and ends up making the world better

spillo1:

LMFAO.....The only way to get rid of billionaires is to put a 900million wealth cap on them world wide. No one will ever need more than that. Any additional influx of money should go directly into public services.

why put the wealth cap or a cap on anything? If I create something the market values they should buy it and I make the money, why should anyone put a cap on anything

If Mr A works hard and makes the 900m cap, If Mr B does better than him why should he not earn more?

If Aguero was the best player and earning 900m if Ronaldo comes and he is better why should Ronaldo be pegged at the level of Aguero when he is obviously better

If you put a cap on it, then what will be the incentive for Ronaldo to work harder to become better than Aguero when he knows the reward will be pegged

raumdeuter:


why put the wealth cap or a cap on anything? If I create something the market values they should buy it and I make the money, why should anyone put a cap on anything

If Mr A works hard and makes the 900m cap, If Mr B does better than him why should he earn more?

If Aguero was the best player and earning 900m if Ronaldo comes and he is better why should Ronaldo be pegged at the level of Aguero when he is obviously better

If you put a cap on it, then what will be the incentive for Ronaldo to work harder to become better than Aguero when he knows the reward will be pegged

In the words of Michael Douglas, greed is good.

spillo1:

LMFAO.....The only way to get rid of billionaires is to put a 900million wealth cap on them world wide. No one will ever need more than that. Any additional influx of money should go directly into public services.

Exactly. Why the hell will someone be worth over $100billion.

Melvyn11:

Exactly. Why the hell will someone be worth over $100billion.

Because he created something that people(market) is willing to pay over $100bn for

afrodoc2:


In the words of Michael Douglas, greed is good.

Why did Doctors bother to study for 6yrs or 11yrs in some countries, read morning afternoon night, take exams every time
Why didn't they just study Yoruba dance steps in school
Why will anyone deny himself sleep to be studying or working if its not greed
Do you think anyone naturally likes to stress himself if there is no reward especially financial to it? The more the reward the more effort and risk people are prepared to take

raumdeuter:


The wealth is there for you to grab also. Find a solution to a major issue affecting people e.g cure for this Corona and you can also become a billionaire

Govt bailing out big corporation, let me ask, Assuming govt allows the big corporation to go under who do you think will suffer most?

Let me use a hypothetical example of say Govt bails out Amazon, Do you think without the bailout Bezos will ever starve? What of the millions of workers who benefit from him directly or indirectly?

Unless we should be operating an economy where govt hands out money to everyone, And if that is the case, where will the govt get the money to hand out from?

Billionaire’s should not enjoy tax breaks and they should be taxed heavily.

Let’s take the US of A as a prime example here;
With the kind of capitalism that the US runs, why exactly should govt give out bail out funds to these big corporations.

The reason why there’s no Universal Health Care system in the US compared to the rest of the advanced world is because of large pharmaceutical companies who has your politicians in their pockets? Compare how much a major surgery or treatment cost in the US compared to other developed nations?

Do you know the % of Americans that are burdened with College Debt? Most of the developed nations have free tertiary education but in the Capitalist US of A, young people run into debt to get a degree and use most of their adult life repaying these debts. Even as worse as Nigeria is, tertiary education is heavily subsidized by the govt.

When recession hit and these people are out of a job, who’s going to bail them out? Will govt give them lump sum of money so they stay afloat? Are these big companies not underpaying their employees? Who’s going to help them pay their student debt that keeps accumulating when they are out of a job and can’t service it?

Social Capitalism is the way to go.

raumdeuter:


Pls explain what you mean by the bold

There are people who create solution to big challenges in the world, how should they be compensated? Human nature is intrinsically greedy, Greed is what drives the world. Greed is why you want to make more money. Greed is why you want to drive a Gwagon when a bicycle or Toyota can do the same

This same greed is what drives people to do beyond their normal ability, Greed is what makes people sleep in labs finding solutions, studying hard courses, making intensive research, Ronaldo training for 16hrs a day

Greed is a good thing, Greed drives innovations and ends up making the world better

Their is no amount of working hard that will make one a billionaire. Billionaires are people who exploit others to continue hoarding wealth. Trump's Tax Cuts policy give the rich over a trillion dollars in tax cuts.
There is no reason for anyone to be homeless or lack medical care or even hunger and yet you got people that can spend a million dollars every day for multiple lifetimes!
You could be paid $5000 a day for 500 years and still not have a billion dollars and these guys have a hundred billion and they have companies worth trillions. Dayo wake up.

raumdeuter:


why put the wealth cap or a cap on anything? If I create something the market values they should buy it and I make the money, why should anyone put a cap on anything

If Mr A works hard and makes the 900m cap, If Mr B does better than him why should he not earn more?

If Aguero was the best player and earning 900m if Ronaldo comes and he is better why should Ronaldo be pegged at the level of Aguero when he is obviously better

If you put a cap on it, then what will be the incentive for Ronaldo to work harder to become better than Aguero when he knows the reward will be pegged

I'm one of your fans when you are not discussing anything related to football. I pray one day you become this sensible while analysing football/footballers.

raumdeuter:


Because he created something that people(market) is willing to pay over $100bn for

Profit is the value of exploited labor. The larger the profit the worse the exploitation. Don't be deceived that bill gate is worth of 100billion because of hardwork.

larride:
Billionaire’s should not enjoy tax breaks and they should be taxed heavily.

Why? WHy should the creator of jobs be taxed heavily? Let me bring it down to you, You make 5M next thing you likely will do is enjoy small and look for how to turn the 5m into 50M, thereby employing more people and spreading the money around, If Lagos state now says ok you make 5M, govt takes 4M, So how will it benefit you or the rest of the populace

Let’s take the US of A as a prime example here;
With the kind of capitalism that the US runs, why exactly should govt give out bail out funds to these big corporations.

Let me use a hypothetical example of say Govt bails out Amazon, Do you think without the bailout Bezos will ever starve? What of the millions of workers who benefit from him directly or indirectly? If you run down billionaires and owners of business, Will the govt create those jobs?

Do you know the % of Americans that are burdened with College Debt? Most of the developed nations have free tertiary education but in the Capitalist US of A, young people run into debt to get a degree and use most of their adult life repaying these debts. Even as worse as Nigeria is, tertiary education is heavily subsidized by the govt.

Education is an investment in your life. You will get the most benefit for what you invest in youself, So why should the govt give you this education free. In US, its free till secondary school, AFter sec school, you decide you want to be an Accountant and I decide I want to be a boxer, why should govt subside your life dreams by giving you free tuition and not pay for the cost of my training and gym to become a boxer?, Why should part of my taxes be taken to sponsor you in achieving your dreams. If Janet decides to be a porn star or a model should govt also finance her training too?

When recession hit and these people are out of a job, who’s going to bail them out? Will govt give them lump sum of money so they stay afloat? Are these big companies not underpaying their employees? Who’s going to help them pay their student debt that keeps accumulating when they are out of a job and can’t service it?

Social Capitalism is the way to go

How much can govt give the people and for how long? The greatest help you can do for an able bodied man is to get him back to work quickly where he can earn money and feed himself and his family.

If comanies are helped back on their feet, they can hire people who will in turn feed themselves and grow the economy around them
When Detroit auto industry went down, Obama bailed them out, the companies came back to life and hired people back, the people hired were able to make purchases thus local businesses also came back.

If govt has been handing out money to those people since 2008, How long do you think able-bodied men and women will continue to depend on govt

larride:


Billionaire’s should not enjoy tax breaks and they should be taxed heavily.

Let’s take the US of A as a prime example here;
With the kind of capitalism that the US runs, why exactly should govt give out bail out funds to these big corporations.

The reason why there’s no Universal Health Care system in the US compared to the rest of the advanced world is because of large pharmaceutical companies who has your politicians in their pockets? Compare how much a major surgery or treatment cost in the US compared to other developed nations?

Do you know the % of Americans that are burdened with College Debt? Most of the developed nations have free tertiary education but in the Capitalist US of A, young people run into debt to get a degree and use most of their adult life repaying these debts. Even as worse as Nigeria is, tertiary education is heavily subsidized by the govt.

When recession hit and these people are out of a job, who’s going to bail them out? Will govt give them lump sum of money so they stay afloat? Are these big companies not underpaying their employees? Who’s going to help them pay their student debt that keeps accumulating when they are out of a job and can’t service it?

Social Capitalism is the way to go.

It doesn't matter the economic system you have, be it capitalism or socialism. when wealth/resources is concentrated to a very small number of people, your society will collapse.

We shouldn't hate on billionaires for the fact that they're billionaires we should hate those who cheat the system to become one. We need conscious billionaires who provide jobs and pay taxes as appropriate, government can decide to bail them out if doing will bring more benefit than negative consequences.

airmark:


I'm one of your fans when you are not discussing anything related to football. I pray one day you become this sensible while analysing football/footballers.

Hahahahaha .....Can't even lie I am totally on Dayo's side with regards to this particular arguement.

Melvyn11:

Their is no amount of working hard that will make one a billionaire. Billionaires are people who exploit others to continue hoarding wealth. Trump's Tax Cuts policy give the rich over a trillion dollars in tax cuts.
There is no reason for anyone to be homeless or lack medical care or even hunger and yet you got people that can spend a million dollars every day for multiple lifetimes!
You could be paid $5000 a day for 500 years and still not have a billion dollars and these guys have a hundred billion and they have companies worth trillions. Dayo wake up.

Melvyn11:

Profit is the value of exploited labor. The larger the profit the worse the exploitation. Don't be deceived that bill gate is worth of 100billion because of hardwork.

Bill Gates doesnt need to work as hard anymore since he can make his money work for him. There was a topic like 2 months ago about an Ibo boy who makes huge money from traffic sales

So if Obinna worked hard selling water in traffic and makes 500k, he hires more people to do the hawking for him while managing the logistics, he moves the 500k to 5M, later he gives out the logistics work to some else and he starts chasing large company contract increasing 5M to 50M, later he starts getting water project for multinationals increasing 50M to 500M

You will say he wasn't working as hard because he is no longer sweating in traffic?

Do you expect Bill Gates to still be writing DOS command? C++, Javascripts to show he is working hard when he can hire 50,000 college grads to write codes for him while he chases bigger things

You think Dangote is not working hard because he is not driving 5,000 trucks himself

Amoto94:
We shouldn't hate on billionaires for the fact that they're billionaires we should hate those who cheat the system to become one. We need conscious billionaires who provide jobs and pay taxes as appropriate, government can decide to bail them out if doing will bring more benefit than negative consequences.

Again no one is hating billionaire as persons but the term itself billionaires shouldn't exist. I don't care that someone may have a lot of money. I care that they have enough money that it ceases to be "money." Once you have so much that you cannot possibly spend it in your lifetime, then it's no longer the same thing. It becomes power. You can buy elections and even start wars. All billionaires are parasites and represent a failure in any system.

raumdeuter:




Bill Gates doesnt need to work as hard anymore since he can make his money work for him. There was a topic like 2 months ago about an Ibo boy who makes huge money from traffic sales

So if Obinna worked hard selling water in traffic and makes 500k, he hires more people to do the hawking for him while managing the logistics, he moves the 500k to 5M, later he gives out the logistics work to some else and he starts chasing large company contract increasing 5M to 50M, later he starts getting water project for multinationals increasing 50M to 500M

You will say he wasn't working as hard because he is no longer sweating in traffic?

Do you expect Bill Gates to still be writing DOS command? C++, Javascripts to show he is working hard when he can hire 50,000 college grads to write codes for him while he chases bigger things

You think Dangote is not working hard because he is not driving 5,000 trucks himself

Ori e wanbe
Billionaire creates job opportunities more than the governments

Amoto94:
We shouldn't hate on billionaires for the fact that they're billionaires we should hate those who cheat the system to become one. We need conscious billionaires who provide jobs and pay taxes as appropriate, government can decide to bail them out if doing will bring more benefit than negative consequences.

Like those useless politicians

airmark:


I'm one of your fans when you are not discussing anything related to football. I pray one day you become this sensible while analysing football/footballers.

I am always logical in all I do or say, I dont mix emotions into it, That is why its always constant and stand test of time. That is why I dont bother with emotional things like one can dribble when the end result of goals and assist is missing

I have seen Socialism from a distance and experienced Capitalism,

If you are familiar with Olympics boxing you will know how good Cubans are at Boxing, I grew up watching people like Felix Savon and Casamayor dominating Olympics and winning medals, They will get home and Cuban govt will give them a bicycle, today most of them are so poor they have sold their Olympic medals to feed their family.

Look at their American counterparts like Wilder and Mayweather some didn't even win a medal at Olympics but are now millionaires

The younger Cuban boxers that still have energy paid boats to ship them to the US where they can escape that curse of Socialism

Melvyn11:

Again no one is hating billionaire as persons but the term itself billionaires shouldn't exist. I don't care that someone may have a lot of money. I care that they have enough money that it ceases to be "money." Once you have so much that you cannot possibly spend it in your lifetime, then it's no longer the same thing. It becomes power. You can buy elections and even start wars. All billionaires are parasites and represent a failure in any system.

There is nothing wrong in having enough that you won't spend in your lifetime, you can write a will and distribute it accordingly. It is better to leave your family with abundance wealth than leaving them with nothing at all.
Is it only billionaires that are causing problems? What about those wretched souls who out of envy poison others in the village?

raumdeuter:




Bill Gates doesnt need to work as hard anymore since he can make his money work for him. There was a topic like 2 months ago about an Ibo boy who makes huge money from traffic sales

So if Obinna worked hard selling water in traffic and makes 500k, he hires more people to do the hawking for him while managing the logistics, he moves the 500k to 5M, later he gives out the logistics work to some else and he starts chasing large company contract increasing 5M to 50M, later he starts getting water project for multinationals increasing 50M to 500M

You will say he wasn't working as hard because he is no longer sweating in traffic?

Do you expect Bill Gates to still be writing DOS command? C++, Javascripts to show he is working hard when he can hire 50,000 college grads to write codes for him while he chases bigger things

You think Dangote is not working hard because he is not driving 5,000 trucks himself

The problem is you can't comprehend how big a billion is. Maybe you should go to Google and enlighten yourself. No amount of hardwork makes one a billionaire in case you don't know. These three billionaires – Bill Gates, Jeff Bezos, and Warren Buffett – collectively have more wealth than 160 million Americans. If you keep arguing after reading that stats then forget it. Billionaires shouldn't exist

Melvyn11:

Again no one is hating billionaire as persons but the term itself billionaires shouldn't exist. I don't care that someone may have a lot of money. I care that they have enough money that it ceases to be "money." Once you have so much that you cannot possibly spend it in your lifetime, then it's no longer the same thing. It becomes power. You can buy elections and even start wars. All billionaires are parasites and represent a failure in any system.

Majority of them donate to charity or become philanthropist

Amoto94:
We shouldn't hate on billionaires for the fact that they're billionaires we should hate those who cheat the system to become one. We need conscious billionaires who provide jobs and pay taxes as appropriate, government can decide to bail them out if doing will bring more benefit than negative consequences.

I trust individuals more than I trust govt. Look at any company managed by govt and anyone managed by individuals and see the difference

We can complain all we want about MTN and Glo and how much they are making and ripping us off, Will anyone rather go back to the days of NITEL?

Check the number of people MTN/Glo are employing directly and indirectly, If you tax MTN/Glo out of relevance because the owners are billionaires, will govt employ all of them?

Amoto94:

There is nothing wrong in having enough that you won't spend in your lifetime, you can write a will and distribute it accordingly. It is better to leave your family with abundance wealth than leaving them with nothing at all.
Is it only billionaires that are causing problems? What about those wretched souls who out of envy poison others in the village?

It's like most of you can't grasp the term a billionaire. if Bill gate gets taxed 100billion today, he will still be a multi billionaire. That's madness then you have Bezos who earn about 120,000 dollars in a minute. Did he work harder in that minute than an average American over the last 2-7 years? No? Then he must not be getting paid according to his labour. If he's getting paid money for labour he isn't doing, who is doing labour for which they're not being paid? Every single one of his employees. Most of them exploit their employees to get to where they are now. Billionaires are scums who exploit the system to their benefits.

raumdeuter:


I am always logical in all I do or say, [s]I dont mix emotions into it, That is why its always constant and stand test of time. That is why I dont bother with emotional things like one can dribble when the end result of goals and assist is missing

I have seen Socialism from a distance and experienced Capitalism,

If you are familiar with Olympics boxing you will know how good Cubans are at Boxing, I grew up watching people like Felix Savon and Casamayor dominating Olympics and winning medals, They will get home and Cuban govt will give them a bicycle, today most of them are so poor they have sold their Olympic medals to feed their family.

Look at their American counterparts like Wilder and Mayweather some didn't even win a medal at Olympics but are now millionaires

The younger Cuban boxers that still have energy paid boats to ship them to the US where they can escape that curse of Socialism[/s]

You are not always logical.

No logic in saying Boathand at his peak is better than VVD, just because VVD hasn't won the world cup among other illogical stuff you've dropped here.

Melvyn11:

The problem is you can't comprehend how big a billion is. Maybe you should go to Google and enlighten yourself. No amount of hardwork makes one a billionaire in case you don't know. These three billionaires – Bill Gates, Jeff Bezos, and Warren Buffett – collectively have more wealth than 160 million Americans. If you keep arguing after reading that stats then forget it. Billionaires shouldn't exist

How many of those 160m have an impact these 3 have? If any of that 160m create something that meets a crucial need, they will join them at the top

Ronaldo, Messi and Neymar have more money than 500,000 footballers in the world.

raumdeuter:


How many of those 160m have an impact these 3 have? If any of that 160m create something that meets a crucial need, they will join them at the top

Ronaldo, Messi and Neymar have more money than 500,000 footballers in the world.

What silly impact? No self made billionaires earn all that money. People like Steve Jobs or Jeff Bezos had good innovative ideas and worked hard for a few years. But that doesn’t entitle them to infinite riches, and that’s what capitalism does. It causes a few people to turn intellectual property or an initial investment into a constant stream of money even though others do most of the actual work.The idea that billionaires can earn a billion dollars defies even physical reality. They are billionaires because of a broken system and policy.

Melvyn11:

It's like most of you can't grasp the term a billionaire. if Bill gate gets taxed 100billion today, he will still be a multi billionaire. That's madness then you have Bezos who earn about 120,000 dollars in a minute. Did he work harder in that minute than an average American over the last 2-7 years? No? Then he must not be getting paid according to his labour. If he's getting paid money for labour he isn't doing, who is doing labour for which they're not being paid? Every single one of his employees. Most of them exploit their employees to get to where they are now. Billionaires are scums who exploit the system to their benefits.

Why is Gates making money per minute? Because per minute people are buying his products. Do you know how many Microsoft products and services are getting consumed per minute?

Why is Bezos getting 120k per minute? Because he has thousands of people in his work force giving products and services to people by the minute. Today many people have signed into Amazon prime to watch content, how many people have ordered goods through AMazon? How many companies have used AWS

He has been able to spread his services around that he can make money even when banging a chic

airmark:


You are not always logical.

No logic in saying Boathand at his peak is better than VVD, just because VVD hasn't won the world cup among other illogical stuff you've dropped here.

Do you still want to watch him analyse football? Allow Dayo, he's doing a great job so far.

Melvyn11:

Exactly. Why the hell will someone be worth over $100billion.

LMFAO.......If you break it down to an hourly wage. It's pretty unrealistic that someone could legitimately believe anyone could earn a billion when you see how much that translates to as an hourly wage.

Melvyn11:

What silly impact? No self made billionaires earn all that money. People like Steve Jobs or Jeff Bezos had good innovative ideas and worked hard for a few years. But that doesn’t entitle them to infinite riches, and that’s what capitalism does. It causes a few people to turn intellectual property or an initial investment into a constant stream of money even though others do most of the actual work. The idea that billionaires can earn a billion dollars defies even physical reality. They are billionaires because of a broken system and policy.

One of the silly impacts is what you used to type that post. Probably a PC or an iPhone device. Just like millions of people are doing as we speak. It entitles them to infinite riches because they discovered a solution

His initial work broke the ground and that is what his employees are working on and developing further