Is there an ethical limit to how much wealth one individual should be allowed to accumulate, even if it was earned legally and through innovation?

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No. That is stupid. This whole “eat the rich” socialism campaign is complete lunacy.

likefunnyhelpfulsmart

Yeah let’s eat this guy first

likefunny

Yes. Of course. Legality doesn’t matter. There’s lots of things that are legal that are only legal due to corruption. Billionaires do not earn their wealth. Their employees whom they exploit do.

likefunnysmarthelpful

Nobody was exploited. Everyone got paid for their work. You are not poor just because someone else is rich.

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Is there an ethical limit to how productive or innovative you should be allowed to produce? Should you be prohibited from graduating with perfect grades because you studied hard and didn't party like your classmates?

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It is funny it is legal to cut half of middle class families income who they badly need it, but having tax on extra money very rich have and never need is illegal.

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I’d love to tax them more, but when the tax eaters were higher, tax revenues were lower, and when tax rates decreased, the government actually gained more in taxes. The rich pay most tax revenue.

Id prefer they invest that money than give it to our government… especially considering most people’s entire paycheck depends on capital investment from these super rich capitalists.

How wouldnyou force them to continue generating wealth after you started taking more of it anyway? Wouldn’t they just elect not to earn ten cents on the dollar anymore?

No

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There was a time when people would honor and respect those who did great deeds with their wealth and status and people would revere them and commit their lives to them.

There are ethical constraints to how one employs their wealth, there are ethical constraints to how one seeks to deal with issues in this world, concerning ourselves with an arbitrary number that has a relative benefit depending on the inflationary mechanics instituted by the evil of the world very silly. a rich man is not bad because he is rich, he is bad because he is bad.

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No. It’s only wrong if not everyone has access to do it. If you said only people named Bob can accumulate that much wealth then yes. But since everyone theore has the ability to accumulate wealth it’s fair.
Now you could talk about the moral responsibilities of those who have immense wealth. How to use it like buying 10 yachts and jets vs helping the needy. But you could also talk about the moral responsibilities of people who refuse to work and sit and wait for free handouts too. Goes both ways.

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USD 10m. After that it’s just megalomania at others' expense.

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So the maximum investment possible would be some amount less than USD 10m?

There are countries with average capital investments around that maximum… Djibouti and Guinea-Bissau.

I think you were assuming all the additional wealth would still be there, perhaps through the creation of some kind of indentured capitalist class? You’re also assuming we can take those dollars and give them to the government, who will naturally act ethically and in our favor, right?

But the real result would be… I mean, you know what it would be, right? What would really happen if we just crippled our economy for no reason…

I read somewhere that there is enough for everyone's need but not enough for everyone's greed.

The ethical limit should be as per your calculations on how much you need in your life.

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wealth is created through capital investment. If you try to take money out of the economy at the investment stage, you will shrink the economy.

It’s te same for the super rich, by the way… when they start cashing in their investments, the value goes down. taking even more money than we already are would significantly reduce tax revenues. we can’t have an indentured capitalist class making money for us. wealth generation doesn’t work that way.

It would be even worse than just printing more money and giving it to the poor instead of toward wealth generation. But printing more money like that only o have it poured into the economy would harm working people…

No

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As long as you earn it legally and honestly, it is nobody's business how much you can earn, and there should be no ethical limit to it. You are not stealing it from anyone.

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No. Free markets reward those who built value to society through innovation and entrepreneurship. The more value you can provide, the greater opportunity to grow wealth.

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Yes. No one should have a billion dollars, if even that much.

People talk about the hard worker building their billions with their own hands, but they don't. They built them on top of public systems and research that were put in place or done during an era that ended almost 50 years ago, now. That also happens to be the era when labor was strongest and taxes were highest. Computers, internet, public roads, highways, educated workers, (not to mention new materials) were are created with public investment by the government. All of the research and technology was available for free. Little of it was copywrited or patented.

Today, instead of that level of development, billionaires have made their billions by using investor money to undercut the competition then, if the competition manages to survive, buy them out. Legal? Yes. Did they build that market? No. Did they invent anything that changed the market? Also no, but they sure did make billions monopolizing it with outside money.

Not to mention, they often start with money given to them by close relations (like Elon with his father's emerald mine money), or just happen to be in the right place at the right time (like Jobs and Gates have said of themselves).

Companies also increase their margins by cutting R&D, employee benefits or leaving wages flat in the face of inflation. Look at Neutron Jack, who was praised as a business genius because his practices brought enormous shareholder value and are emulated today. The problem? He left GE a ruins. Companies used to compete over amenities they offered their employees. (I think GE even had a tennis court, once) The stock market's higher than it's ever been, yet companies no longer do.

Being a billionaire is also bad for your mental health. Billionaires often feel a need to accumulate more and protect their wealth. If that sounds like a hoarding disorder, that's because it is. Being a billionaire atrophies parts of your brain and detaches you from reality. Being a billionaire often makes people feel a lack of purpose or boredom. These can lead to terrible depression, a sense of isolation, a lack of empathy and/orparanoia, which then often leading to drug use.

See Elon and his well-documented ketamine habit or his purchase of twitter, something he's lamented and been on suicide watch over. See the titan submersible debacle where it's billionaire creator was convinced he knew better than experts in the field, only to literally get himself, his son and a friend killed. See Zuckerberg building the world's most amenity-filled apocalypse bunker and private town in Hawaii.

We also know wealth inequality is bad for society as a whole. What then is the benefit of billionaires? Not really anything, it seems. So why should they exist? They probably shouldn't. The idea of private wealth is actually fairly new relative to the history of humans, and chasing it has wrecked our only planet. We shouldn't let it go on

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What shouldn't be allowed is for them to tax shelter most of it while those scraping to get by paycheck to paycheck are footing the tax bills.

Taking 50% from the billionaire or trillionaire doesn't even put a dent in their generational wealthy.
Taking 50% from those on a living wage can often mean choosing between paying the bills and putting food on the table, while children have no choice but to get into the workforce to help out instead of being able to focus on their education or other opportunities that may allow them to break the cycle.

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I think everyone should pay their fair share in taxes. Tax the wealth and stop giving them breaks.

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If earned legally, no. There's no ethical limit. Who gets to decide how much money someone can earn, legally?

No it isn’t. It is the position of a realist and a person with empathy.

It's not ethical to covet other people's wealth.

Feels like a gaslighting question. Whose wealth does the question seek to limit? Do you want to limit ability of a nurse, teacher, office/warehouse worker to grow their wealth through ethical and moral means? Would you want your ability capped?

No. And I know you are talking about Elon Musk probably. Do you think that money is sitting in a scrooge mcduck vault? He doesn't actually have much money at all unless he sells his stocks which would then destroy their worth on the markets.

No. If I come up with an idea or product that there is enough demand for to make me a trillionaire, so be it. I wouldn't keep more than I actually need, and children's charities would be really well off, but that would be my choice,

So you essentially would be granting more freedom to those who own less wealth. Wealthy people hold all the power so eventually that would fall apart. They would find a way look at organized crime. That's how a lot of people make money in socialist countries through crime. It's a nice idea but human nature doesn't work that way.

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