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.

So because they're not breaking boulders or writing lines of codes it does mean thay they're not working hard more than the average Joe? Raumdeuter has already answered your question of hardworking in his post. Let me add a little, a system analysts who's written scripts to automate some of his works if he earns more due to this, another system analyst who isn't so good at script writing and does the work manually but wastes time and he's paid less- does it mean that the second analyst is treated unfairly?

raumdeuter:


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?

Tax waivers should be granted as appropriate but not at the expense of the overall health of the economy. I'd say tax waivers should be granted to startups

spillo1:


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.

They also control the media to brainwash people to think billionaires actually earned it. It's so pathetic

A40:
These are not communicable diseases. How many times will we tell you this.

I know they are not sir, I thought it was about it's fatality rate

Bauchi Governor don catch Corona. This one na real the Rich also cry

The only positive is the healthcare system these people refused to fix they are forced to rely on now

Meanwhile. . .

Does it mean the world isn't working hard?

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.

I am left leaning, and I 'understand' where you're coming from, but you sound like you're repeating a mantra without a full understanding of the argument you're trying to make.

It's typical of virtue signallers trying to partially regurgitate leftist theory because it's trendy.

There are two things that every human being needs to produce resources

1. An ability to develop intellectual property
2. The rights to protect developed intellectual property.

Scenario A:
If you have 1, but not 2 , you end up with Nigeria and Current China, where patent and copyright infringement is not a thing.

The common man has no incentive to innovate, because the big cabals will use their economy of scale to mass produce your invention at such a cheap rate that you could never compete, and your business will die.

The result is that money is concentrated in the hands of the few.

Scenario B
You have 2, but not 1. This manifests in pure communism where the government will take ownership of your brilliant idea and may use it to benefit the country, and while they would protect the trade secrets from other countries, you won't personally see a penny from it.

The common man has no incentive to innovate when there's very little personal gain in it for himself.

The result: no innovation, and so the government has to rely heavily on forced manual labour e.g Stalinist Russia and Maoist China.

Money and Power is still concentrated in the hands of the few, except they're all government officials

Scenario C.
You have 1, and 2.

The common man has the ability to innovate. The government promises to protect his ability to profit from that innovation.

The result is America and Western Europe. Yes there are still few billionaires, but there's more than in China or Russia.

There are way more millionaires than anywhere else in the previous scenarios, and the individual standard of living is a lot higher.

All common man has to do, in theory, is to find that innovation that will make him the money, and that's what niggas are doing in silicone valley, old Street roundabout, and football pitches all over Europe

You cannot maintain this system and say billionaires cannot exist, otherwise you're moving to scenario B.

The question here really should be how can we maximise the positive impact of these billionaires to the life of those who haven't hammered. That was the policy Tony Blair used to become the most popular pm in modern British history.

I personally believe in higher taxation for the rich, but not to the point where they will run away.

There has to be incentive for them to stay, because trust me countries like Ireland are out there willing to almost forgo taxation for big companies and billionaires, to attract their business there

Find the balance by taxing the super-rich as much as we possibly can, and set up structures to prevent them from just creating monopolies everywhere and buying up everything.

Saying billionaires should not exist is just a stüpid thing to say.

iamoyindamola:
Majority of them donate to charity or become philanthropist

Bill Gates is not benevolent. All the countries his charities helped were the same countries that exported key ingredients in computer parts.

You don’t get points for making your business more profitable. If you do something good because it makes you more money, then you’re not doing something morally praiseworthy

spillo1:


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.

This is what I told raumdeuter . No one can legitimately earn a billion dollars, or contribute work worth a billion dollars. If you worked every single day and were paid $5000 per day, it would take 548 years to earn a billion dollars. Most of them don't understand

Melvyn11:
Bill Gates is not benevolent. All the countries his charities helped were the same countries that exported key ingredients in computer parts.

You don’t get points for making your business more profitable. If you do something good because it makes you more money, then you’re not doing something morally praiseworthy

Did Gates get these materials for free or he bought it in the market? The books and food you consumed to become a successful engineers, did the bookseller or garri seller have a right to your wealth after you paid for their services 10yrs ago?

2. if he didnt give back in form of charity, who will arrest him or what law has he broken

Melvyn11:

This is what I told raumdeuter . No one can legitimately earn a billion dollars, or contribute work worth a billion dollars. If you worked every single day and were paid $5000 per day, it would take 548 years to earn a billion dollars. Most of them don't understand

You keep saying if you work. You dont have to work, you can get people to work for you while you pay them a fraction of what you make

Like I asked, does Dangote need to drive his 5,000 trailers himself? If each trailer makes him 1M and he has 5,000 of them. How much is that? already 5billion and he doesnt even need to touch the steering

Melvyn11:


The fact that two families can donate that much is a disgusting show of privatised wealth. Billionaires shouldn't even exist.

Better phrase would be "no one ever earns a billion dollars"

raumdeuter:


You keep saying if you work. You dont have to work, you can get people to work for you while you pay them a fraction of what you make

Like I asked, does Dangote need to drive his 5,000 trailers himself? If each trailer makes him 1M and he has 5,000 of them. How much is that? already 5billion and he doesnt even need to touch the steering

What he is saying is that bill gate has not contributed any work worth to earn a billion dollars. Realistically nobody can.

raumdeuter:


You keep saying if you work. You dont have to work, you can get people to work for you while you pay them a fraction of what you make

Like I asked, does Dangote need to drive his 5,000 trailers himself? If each trailer makes him 1M and he has 5,000 of them. How much is that? already 5billion and he doesnt even need to touch the steering

You are making sense egbon.

Melvyn11:

This is what I told raumdeuter . No one can legitimately earn a billion dollars, or contribute work worth a billion dollars. If you worked every single day and were paid $5000 per day, it would take 548 years to earn a billion dollars. Most of them don't understand

This is a wack analogy.

Billionaires aren't exchanging their time for money, which is what work is.

Most of them became rich from selling products or services for money.

You do not pay bill gates for the amount of days he works in a year.

You pay him for Microsoft office.

Understand this and your argument has no more merit.

Godx:

What he is saying is that bill gate has not contributed any work worth to earn a billion dollars. Realistically nobody can.

Dayo will tell you he brought the idea of Microsoft forgetting it's not the idea that made Microsoft a multi billionaire company but the execution of that idea carried out by others. To dayo one idea means he's worth everything.

So if you create an innovation and becomes a giant corporation, makes $100,000,000,000 (that's one-hundred billion).

You gonna keep giving that guy ninety-nine billion dollars every year because he had the idea and when he dies you transfer it to his children. They don't know what they saying. Under the right system Billionaires wouldn't exist.

Godx:

What he is saying is that bill gate has not contributed any work worth to earn a billion dollars. Realistically nobody can.

Gbam.

Godx:

What he is saying is that bill gate has not contributed any work worth to earn a billion dollars. Realistically nobody can.

Bill Gates ideas has sold billions of personal computers and Operating Systems, plus enterprise solutions all over the world,

If you discover a formular for Corona and sell each tablet for $10, You borrow money hire many chemists to mix this your formular together to sell.

You sit down and they sell 20M tablets, How much are you worth?
\After a while Pfizer approach you to buy your factory and your formular, you sell your formular to Pfizer and collect $4 per tablet, while you chill in Bahamas. Are you not a billionaire?

Do you think, 1 person will sit down and make the 20M tablets before you can say he is working?

raumdeuter:


You keep saying if you work. You dont have to work, you can get people to work for you while you pay them a fraction of what you make

Like I asked, does Dangote need to drive his 5,000 trailers himself? If each trailer makes him 1M and he has 5,000 of them. How much is that? already 5billion and he doesnt even need to touch the steering

Your analysis are always top-notch...cheers

Melvyn11:

Dayo will tell you he brought the idea of Microsoft forgetting it's not the idea that made Microsoft a multi billionaire company but the execution of that idea carried out by others. To dayo one idea means he's worth everything.

So if you create an innovation and becomes a giant corporation, makes $100,000,000,000 (that's one-hundred billion).

You gonna keep giving that guy ninety-nine billion dollars every year because he had the idea and when he dies you transfer it to his children. They don't know what they saying. Under the right system Billionaires wouldn't exist.

You don't have to give him ninety-nine billion every year.

It is not tax

You don't have to use Windows, Linux is free.

So if there's a free alternative, why should Bill gates be penalised for selling a product to people that don't want free stuff?

Are you normal at all?

Why are you even typing this nonsense from your phone?
Why are you not doing it the ancestor way by posting using calabash and water?

raumdeuter:


If you discover a formular for Corona and sell each tablet for $10, You borrow money hire many chemists to mix this your formular together to sell.

You sit down and they sell 20M tablets, How much are you worth?
\After a while Pfizer approach you to buy your factory and your formular, you sell your formular to Pfizer and collect $4 per tablet, while you chill in Bahamas. Are you not a billionaire?

Do you think, 1 person will sit down and make the 20M tablets before you can say he is working?

Is that the work worth that makes you a billionaire?

raumdeuter:


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

there is nobody that knows you very well that will see the bolded and not know that it is a big fat lie.

Godx:

Is that the work worth that makes you a billionaire?

The formular that you found that cures a disease and meets a need that millions worldwide want. That is what makes you a billionaire, whether you found it through lab research, or you get the revelation in your sleep.

Ronaldo is a billionaire because he is a specialist in what people want, See diggz my friend, he is a specialist in ten-ten but no one wants to watch him

Thats why one is a billionaire

Godx:

Is that the work worth that makes you a billionaire?

No.

What is the value of labour?

Let me ask you this?

Are you currently employed? If you are, can you justify your current salary?

raumdeuter:


The formular that you found that cures a disease and meets a need that millions worldwide want. That is what makes you a billionaire, whether you found it through lab research, or you get the revelation in your sleep.

Ronaldo is a billionaire because he is a specialist in what people want, See diggz, he is a specialist in ten-ten but no one wants to watch him

Thats why one is a billionaire

Ronaldo is not a billionaire stop saying that shiiit. If Billy get shot today and dies will Microsoft stop to exist? No it will function just fine same as Amazon or Dangote company. No billionaire actually deserves the wealth they have accumulated. Value is created by working people not by managers. There is a fair margin to pay them greater but that is nowhere in the billions.

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.

you are sounding funny with this.

Who stopped anybody from doing what they are doing. You should be appreciating them instead.

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.

like Terry is a carryalong.

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.

what policy and system was broken when Abraham and Jacob were getting rich according to the Bible?

Godx:

Ronaldo is not a billionaire stop saying that shiiit. If Billy get shot today and dies will Microsoft stop to exist? No it will function just fine same as Amazon or Dangote company. No billionaire actually deserves the wealth they have accumulated. Value is created by working people not by managers. There is a fair margin to pay them greater but that is nowhere in the billions.

If Bill Gates die, Microsoft will not die. The value they have added to the world buy their innovation is what made them billionaires

How many Windows OS are in use today worldwide? How many companies world wide leverage Microsoft infrastructure. All these created by the company he founded the company where he gets royalty from

WHat is the fair margin per laptop sold, per software sold, per each Azure license O365 license, Windows server license etc that he sells? Add that together and let me know the calculations

Greatihex:
what policy and system was broken when Abraham and Jacob were getting rich according to the Bible?

What is my business with Abraham and Jacob. Ha beg you chill jor

Greatihex:
you are sounding funny with this.

Who stopped anybody from doing what they are doing. You should be appreciating them instead.

You have no idea what you are talking about.

Godx:

Ronaldo is not a billionaire stop saying that shiiit. If Billy get shot today and dies will Microsoft stop to exist? No it will function just fine same as Amazon or Dangote company. No billionaire actually deserves the wealth they have accumulated. Value is created by working people not by managers. There is a fair margin to pay them greater but that is nowhere in the billions.

Value is not produced by employees, that's a fallacy.

A single Microsoft developer is not creating value for customers.

Nobody is buying his individual lines of code and using it. Nobody is trying to either.

The only thing people want to buy is Microsoft office. That is the value proposition that Microsoft offers - If you pay them, they will give you a unique quality software to create documents with.

The only things an employee can trade is their skill and their time, and no employee is unique because skill and time are not unique.

Microsoft decide to replace several employees today, and can go to any computer school in Oshodi and collect students for intensive training.

I promise you several Nigerians jump at the opportunity....to work for free for years sef.

Billionaires aren't billionaires because they are selling their time and skill.

They are billionaires because they are selling a unique product or service.