Hacker News new | ask | show | jobs
by kevmo 596 days ago
Billionaires should not exist.
3 comments

> Billionaires should not exist.

I'm ok with them, but they should not use their money against the rest of us.

Because when we pay for their wealth, then there is an accounting step missing somewhere.

No, they absolutely should exist. Capitalism raises everyone.
> Capitalism raises everyone

hopefully this is sarcasm

Every major communist country has been left in the dust by capitalist ones. Poverty is at a historical low.

We have gone from people dying from starvation to complaining that not everyone can buy a house. Nearly everyone has a universally connected borderline supercomputer in their pocket.

> complaining that not everyone can buy a house

In my ex-Soviet country you were guaranteed to get a free apartment provided by the government. Everyone I know who lived in a city got one, right up to 1991. All you needed to do was to register in a queue and wait for a few years (2-5 depending on several factors like family status — single moms were prioritized, for example). Now we're complaining that "not everyone" can buy an apartment (forget a house), just like you. Not just "not everyone", it's out of reach for most people, and things keep getting worse. At least we have jeans and burgers instead, I guess.

Housing is the cause of 90% of the problems in the west, and that's driven by democratic policies to restrict the supply, not by capitalism.
Yeah. Capitalism would have built a ton the types of apartments the GP is talking about if they were allowed. But, people who already have a place don't want that type of development near them.
Poverty has indeed been decreasing most places, but your framing is very misleading. Half of the people on earth still live on less than $7/day in 2017 PPP dollars, and they are not universally connected or supercomputing. Over 8% of the global population is still below the $2.15/day PPP threshold that defines “extreme poverty”, which means it’s not enough money to purchase enough food to survive, literally still dying from starvation. Note that’s around twice the population of the US. https://blogs.worldbank.org/en/opendata/march-2023-global-po...
I'm not disagreeing with you that people are definitely struggling, but it's hard to see numbers like what you present w/o also numbers on what it cost to live per day. Is it an extreme case of CA vs WV or is it like someone making $7/day living in CA?
This isn’t primarily the US, this is global extreme poverty, and right now for example, it’s bad in Southern Asia, and sub-Saharan Africa, among one or two other places the UN & World Bank talk about.

> w/o also numbers on what it cost to live per day.

This is what “PPP” is all about, that’s referring to a normalized purchasing power parity that is specifically designed to help you understand what $7/day actually means: it means what you think it does, and it is supposed to compare directly to the amount of money it costs you to feed yourself every day.

https://en.wikipedia.org/wiki/Purchasing_power_parity

Communism is so terrible as a system of government that the U.S. has seen fit to forcefully intervene every time it’s been attempted.

Everyone is free to their own opinions, of course – and I’m not wholesale defending communism as it has been attempted – but I find it odd that something which is supposedly so awful can’t just be left alone to wither on the vine, and prove their point.

> Communism is so terrible as a system of government that the U.S. has seen fit to forcefully intervene every time it’s been attempted.

not exactly

the US and communist Russia were allies in WW2; the US did intervene in Korea and Vietnam but that was about maintaining a global edge over Russia -- Americans didn't give a fuck about whether it was good or bad for the people of Vietnam

Neither Iraq nor Afghanistan were communist.

Chile and Nicaragua are examples of when the US intervened to overthrough a democratically elected communist government.

You forgot Cuba.
This is a ridiculous mix of statements! I don't care how many people have 'supercomputer' in their pockets. On other hand homelessness is rampant in USA/Canada and that's a major fail of the capitalism.
>On other hand homelessness is rampant in USA/Canada and that's a major fail of the capitalism.

Meanwhile in capitalist China[1], they're so great at building homes that there are entire cities with barely anyone living in them, "ghost cities". Insofar as a tight housing market contributes to homelessness, it's clear that it's caused by US/Canada specific factors (eg. NIMBYism, building codes, and environmental regulations) than capitalism.

[1] Even though ostensibly it's "socialist with chinese characteristics", for all intents and purposes the real estate sector is capitalist.

there isn't a problem with homelessness in China

but you are right that the capitalist market does restrict the supply of housing because people buy them as investments

also, the ghost cities is way overblown -- they just took time to fill up

Homelessness due to mental illness and drug addiction

Fentanyl and meth imported from China and other countries

EDIT: For naive downvoters. It is an observable fact. Drugs are destroying people and causing homelessness. I have witnessed it first hand.

https://www.youtube.com/watch?v=p5AeGKSDVdE

https://www.youtube.com/watch?v=SwlIAjcYypA

Look up "Philadelphia zombies"

rejecting capitalism doesn't equal embracing communism -- esp not communism as implemented in Russia and China

the main reason why the US became the uncontested power of the 20th century was WW1 and WW2

the socialist policies implemented by FDR saved the capitalism by making it less capitalist

They give back through their charities and foundations. How would you cope with your life without their charities?
Billionaire philanthropy is just another tax-free way oligarchs manipulate our society.
How dare they "manipulate our society by"... reducing malaria and fighting climate change. We'd be far better off if we relied on our ineffectual and corrupt (in case of malaria) governments to do it instead.
If all charities were net-good I would tend to agree with you, but they’re not.
How do you define "net-good"? One man's YIMBY charity to make housing more affordable is another's astroturf operation to destroy neighborhoods so real estate developers can make a quick buck.
It's a tax dodge.
How does this tax dodge work?
OK, so rather than giving $50m to the government they give $100m to charity?

On the surface this seems reasonable. Give $50k gift to your local wildlife sancturary for example, and get invited to the annual fundraising meal.

Looks like the big loopholes involve things like 501(c)(4)s

Without spending too long trying to workout the loopholes, it seems the larger problem is with the definition of a charity in the first place?

>OK, so rather than giving $50m to the government they give $100m to charity?

Any income the government doesn't collect is made up for by the middle and lower class and/or more debt which increases inflation, which is mainly a middle and lower class burden.

For a guy who claims everyone should pay their fair share, he sure takes advantage of a lot of loopholes which he probably helped pay to have written.

He's an OG corporate raider and should be thought of as such, rather than a benevolent capitalist.