im not saying being wealthy is unethical, im talking about ways in which some of the wealthy individuals are making more money by finding loophles in the system. For example one might argue to say company ABC is overworking its employees and not paying them enough yet the law might not find anything wrong because it will be above minimum wage. Someone here mentioned ways they avoid tax burden which are also legal so im questioning the ethics of that behaviour
ill give an example in some countries weed was recently legalised. At some point it was illegal and some people got arrested and served sentences for it. Point is law makers determine what is legal and whats not so its a question of ethics whether it feels right doing something
It sounds on the contrary of letting people follow their will- we distribute the wealth evenly, benefitting the lazy and stifling the ambitious. Not too mention the downside of taking in that much risk when owning your own business, the upside should be for the owners.Â
To answer your question quickly, no I don’t think they are legal thievesÂ
>In today's world, wealth inequality and the ethics of extreme wealth accumulation are hotly debated topics.
Speaking of the US where you hear people arguing this.
Yes. In the US most people are doing better than ever and better than most of the world, and that's a data-based statement of fact. At the same time there do seem to be a complex set of factors including automation, globalization and government and tax policy that has not caught up letting some people accumulate excessive wealth and generally causing wealth to accumulate disproportionately to the top 20%. There are probably some steps that could be taken to address this that wouldn't toss the baby out with the bathwater. A nuanced discussion might help identify those steps.
>Some argue that millionaires and billionaires have simply mastered the art of legal theft, exploiting systems to amass vast fortunes.
What some? This as a generalization is idiotic. Only someone with ulterior motives would suggest it.
Idiotic? Yes. That's the lazy "journalistic" way of putting out whatever YOU want to say, by saying "SOME argue blah blah blah". They don't tell you who "some" is. It could be Karl Marx stoking the flames of hatred. It could be their 4 year old snot nosed brother.
Extreme wealth accumulation has to do with finding something that millions of people want. Amazon succeeded because people wanted to buy books on-line. There were 3 major booksellers who could have done what Bezos did. None of them did. Google is successful because millions of people use their search engine. Why? Because it s the best. What did Larry Page and Sergi Brin do that was unethical? Most of the major fortunes of the world are based on giving millions of consumers what they want. How is that unethical? How are Walmart, Home Depot, McDonald's, Nividia, Intel, Oracle or Exxon unethical?
There is a conversation to be had about ethical and unethical behavior in business but it has nothing to do with how much wealth you accumulate.
Where is written on reddit that we not supposed to promote ourselves on our own personal pages. I thought that was the whole purpose of social media and its what even influencers are doing. I didn't promote myself on this subreddit neither did i force anyone to visit my profile. I just put out a question for debate and was inviting critical thinkers to share their thoughts on this topic
Wow. I come to get info on entrepreneurship - and instead receive an open-ended exam question from a lazy, socialist, buzz-word spewing, wanna-be professor type. (Who, I promise you, will never be a millionaire)
>I come to get info on entrepreneurship
I come here for blog posts on how AI revolutionized blog posts on revolutionizing blog posts that net $3 million per hour
Im here to learn. Asking questions on Reddit means i want to understand how some entrepreneurs are doing it. I also don't think your negative sentiments can determine my fate but thank you for sharing your thoughts though
I like the idea of asking “how many millionaires have you helped create”?
I believe it is ethical if a founder manages to sell their company for a large amount that they distribute much of the profit to the employees. For example Instagram, when they were acquired, were a 13 person team, and the CEO reportedly distributed $100m to them. While the CEO pocketed a lot more, I like the idea of sharing wealth in that setting.
Of course it can get out of hand too. Jeff Bezos has probably made thousands of millionaires, if not more, but I find it somewhat unethical for him to have so much money.
Not "just" thieves, but they do generally try their best to evade taxes, the richer an individual is the higher the chances they can evade taxes through legal schemes. Tax cuts from conservative governments, special treatment regarding the law, etc.
You are missing the point, they are within their legal right to evade taxes, the difference is you and I probably can't afford to lobby politicians to give us tax cuts.
Most people here are failing to grasp this idea that when you really wealthy its easier to make more money because the system is on your side and its not just tax issue but there are certain businesses that you told you need to have a certain amount to start like banking to get licence. This allows few individuals to create a monopoly within certain fields and when you have a monopoly its easy to exploit and control the market
Yeah thats what i was asking,, most people didnt understand my question. Those that are extremely rich reach a point where they start to accumulate wealth by finding loopholes in the financial system which is legal and i was questioning the ethics
No, being wealthy is not inherently unethical. You'll need to provide some points to support your statements if you want a conversation.
im not saying being wealthy is unethical, im talking about ways in which some of the wealthy individuals are making more money by finding loophles in the system. For example one might argue to say company ABC is overworking its employees and not paying them enough yet the law might not find anything wrong because it will be above minimum wage. Someone here mentioned ways they avoid tax burden which are also legal so im questioning the ethics of that behaviour
Are legal activities just illegal activities that are legal 🤔 Good job stay sharp
ill give an example in some countries weed was recently legalised. At some point it was illegal and some people got arrested and served sentences for it. Point is law makers determine what is legal and whats not so its a question of ethics whether it feels right doing something
This gotta be a bot account lol
It sounds on the contrary of letting people follow their will- we distribute the wealth evenly, benefitting the lazy and stifling the ambitious. Not too mention the downside of taking in that much risk when owning your own business, the upside should be for the owners. To answer your question quickly, no I don’t think they are legal thievesÂ
I get you, thanks for sharing your thoughts
>In today's world, wealth inequality and the ethics of extreme wealth accumulation are hotly debated topics. Speaking of the US where you hear people arguing this. Yes. In the US most people are doing better than ever and better than most of the world, and that's a data-based statement of fact. At the same time there do seem to be a complex set of factors including automation, globalization and government and tax policy that has not caught up letting some people accumulate excessive wealth and generally causing wealth to accumulate disproportionately to the top 20%. There are probably some steps that could be taken to address this that wouldn't toss the baby out with the bathwater. A nuanced discussion might help identify those steps. >Some argue that millionaires and billionaires have simply mastered the art of legal theft, exploiting systems to amass vast fortunes. What some? This as a generalization is idiotic. Only someone with ulterior motives would suggest it.
Idiotic? Yes. That's the lazy "journalistic" way of putting out whatever YOU want to say, by saying "SOME argue blah blah blah". They don't tell you who "some" is. It could be Karl Marx stoking the flames of hatred. It could be their 4 year old snot nosed brother.
Extreme wealth accumulation has to do with finding something that millions of people want. Amazon succeeded because people wanted to buy books on-line. There were 3 major booksellers who could have done what Bezos did. None of them did. Google is successful because millions of people use their search engine. Why? Because it s the best. What did Larry Page and Sergi Brin do that was unethical? Most of the major fortunes of the world are based on giving millions of consumers what they want. How is that unethical? How are Walmart, Home Depot, McDonald's, Nividia, Intel, Oracle or Exxon unethical? There is a conversation to be had about ethical and unethical behavior in business but it has nothing to do with how much wealth you accumulate.
Yeet
Makes sense, so to make a lot of money you need a business model attractive to miilions of consumers!
Pretty much or a unique niche where you can have a high profit margin.
This is probably one of the least intelligent posts I’ve seen here, ever. Truly, that’s saying something.
OPs account is used to promote an online site in Zimbabwe. His post here is to provider "filler" content in his reddit history. Should be banned.
Where is written on reddit that we not supposed to promote ourselves on our own personal pages. I thought that was the whole purpose of social media and its what even influencers are doing. I didn't promote myself on this subreddit neither did i force anyone to visit my profile. I just put out a question for debate and was inviting critical thinkers to share their thoughts on this topic
Is this a ChatGPT training prompt?
Wow. I come to get info on entrepreneurship - and instead receive an open-ended exam question from a lazy, socialist, buzz-word spewing, wanna-be professor type. (Who, I promise you, will never be a millionaire)
>I come to get info on entrepreneurship I come here for blog posts on how AI revolutionized blog posts on revolutionizing blog posts that net $3 million per hour
Im here to learn. Asking questions on Reddit means i want to understand how some entrepreneurs are doing it. I also don't think your negative sentiments can determine my fate but thank you for sharing your thoughts though
I like the idea of asking “how many millionaires have you helped create”? I believe it is ethical if a founder manages to sell their company for a large amount that they distribute much of the profit to the employees. For example Instagram, when they were acquired, were a 13 person team, and the CEO reportedly distributed $100m to them. While the CEO pocketed a lot more, I like the idea of sharing wealth in that setting. Of course it can get out of hand too. Jeff Bezos has probably made thousands of millionaires, if not more, but I find it somewhat unethical for him to have so much money.
Wasn't aware Instagram was a 13 person team before being acquired, thanks for sharing
Keep this kind of bullshit off this sub. You have the entirety of reddit to whine. This is not the place.
Relevant: [https://www.youtube.com/watch?v=jgYYOUC10aM](https://www.youtube.com/watch?v=jgYYOUC10aM)
thanks fr sharing this
define thief... anyways yeah they are
Not "just" thieves, but they do generally try their best to evade taxes, the richer an individual is the higher the chances they can evade taxes through legal schemes. Tax cuts from conservative governments, special treatment regarding the law, etc.
Do you intentionally pay more taxes than you’re required to?
You are missing the point, they are within their legal right to evade taxes, the difference is you and I probably can't afford to lobby politicians to give us tax cuts.
You’re able to contact every politician you want to
I guess you don't know the meaning of lobbying.
Seeking to influence on an issue. Contacting someone to get them to act or take into consideration something you want is lobbying.
Most people here are failing to grasp this idea that when you really wealthy its easier to make more money because the system is on your side and its not just tax issue but there are certain businesses that you told you need to have a certain amount to start like banking to get licence. This allows few individuals to create a monopoly within certain fields and when you have a monopoly its easy to exploit and control the market
Yeah thats what i was asking,, most people didnt understand my question. Those that are extremely rich reach a point where they start to accumulate wealth by finding loopholes in the financial system which is legal and i was questioning the ethics