Should there be such a thing as a billionaire?

This question has arisen in the context of the UK general election.

Answer the poll question ladies.

Yes, there's no reason why someone shouldn't be allowed to have all the money they can earn or inherit. It's nobody's business.

I assume people who dislike them are just jealous.

In terms of the 19th century, let's use "millionaires." (Inflation, dontcha know.) Millionaires like the Astors and the Carnegies who gave back to the community, in terms of arts funding, college funds, etc.

When did that stop being a thing?

Yes, but redistribution of wealth through taxes would help.

right wing capitalist billionaires? HELL NO!
left wing celebrity billionaires?

who says it stopped? Maybe you just don't hear about it as much.

Depends on too many variables.

In the UK as it stands no one needs a billion but the existence of billionaires is an artefact of our system. Billionaires may disproportionately generate employment and tax revenue compared to the same wealth aggregated throughout small businesses, I honestly don't know BUT I do find it very difficult indeed to stomach the social inequalities which lead to one person having the wealth of a small nation whilst others whose own efforts leave them struggling to pay a mortgage or feed kids.

On that basis alone I'm going to give the predictable socialist answer and say no, no one needs that much money and I don't really imagine the world benefits from the monopoly of power and influence it perpetuates.

Elsewhere? One could argue that question rests in no small part on the currency in question. Hyper inflation could readily leave a fair few currencies in a state whereby a billion is not the gargantuum figure it sounds.

Another Bumper Sticker Conservative. You and @Lanzman should start a club.

Or edumacate yourself on which side gives back to the community as opposed to brilliant statements such as "I don't pay taxes. Because I'm smart."

Even in a world with limited resources?

You did. In Post #5.

Non sequitur.

When Murica stopped taxing the shit out of the rich if they didn't.

https://www.forbes.com/top-givers/#a2f73a766ffb

I don't think it did but it's insufficient and leaving it up to them rather than taxing it means that it goes to whatever hobby horses they might have rather than where it's needed.

Or, to borrow the Bumper Sticker Mentality of @Lanzman and @Federal Farmer (and @Dayton3): "Churches and other nonprofits would make up the difference."

How so?

Which I'm sorry to say I find a repugnant idea.

Non profits often do fantastic work (I've been involved in a few) making up for the problems society can't or won't fix itself.

FTFY.

Agree with Paladin on this - I'm not a billionaire (newsflash!) but if I were and had to choose between charity and paying taxes I would definitely give money to worthy charities rather than piss it away on taxes where it ends up everywhere but where it needs to go most of the time.

Joel Osteen agrees!

pesky politicians, sending money to the military and charter schools. too bad we don't live in a democracy where we can vote them out of office.

I don’t see why not. Let them make as much money as they want and enjoy it during their life time. Just keep progressive income taxes in place and make sure there is a hefty estate tax to make sure inherited aristocracies are kept at a minimum.

Only one I can think of is J.K. Rowling, and she gave so much away to children's causes, she's not a billionaire anymore.

You can't win with these conservative fuckers, if they think you're a hypocrite, they piss on you, and if you're not a hypocrite, they laugh at you for not being a selfish slimeball.

How many causes - that don't involve family members - has Der Drumpfenfuhrer donated to?

Not a serious question. We all know the answer.

And who the fuck are you to make that decision for anyone else? If you can achieve and claim the rewards for that achievement, then that's how it should work. So long as you came by your wealth honestly (inflicted no harm on anyone while building your fortune) then it's yours to do with as you will. No-one who didn't contribute gets a vote.

Now here's where the reality-impaired start with the "but you used infrastructure built by others" bullshit. Sure you did. You exploited existing resources and applied them in new ways that netted you benefits. No different than if you were a hunter-gatherer who knew where the watering hole surrounded by fruit trees was.

How much money you or I or anyone has, has nothing to do with anything else. It's nobody's business.

As long as they're taxed fairly I don't see why not

Also, people who want to put caps on what someone can earn are worse than AIDS

Define "taxed fairly." Flat tax? Progressive tax? You-have-too-much-so-gimme-gimme-gimme tax?

I've never met a billionaire. A handful of millionaires and their children, yeah, and their main gripe seems to be "you just can't get good help anymore. I mean, like, my mother had to fire three housekeepers before she found the current one."

My question has always been "How much money do you need?"

Never got an answer beyond "You mean, you do your own housework? Really?"

listen to yourself. It's painful, I know: but no matter who is in office our federal, state & local tax money will always go to defense, social security, police & fire departments, education, Medicair, etc. etc. in slightly varying degrees depending on the HMIC at the time. But a lot of the "under the radar" taxation financed half-baked projects and studies are quite wasteful and no matter which side of the political fence you are on, there will always be things you aren't happy to help finance. But being a billionaire the thought of millions (or even billions) of dollars of your money getting flushed down the toilet even by a government you like would be enraging I would think.

Speaking of things at the local level, there is a fucking car suspension/tire shredding pothole in the road at the entrance to my subdivision that has been there, getting gradually worse, for a couple of years. I'd be willing to bet that it...never....gets...fixed within the next five years. Meanwhile they are spending millions on road improvements that while changing the roads' form they don't actually improve the roads' functionality or traffic carrying capability. I would spend my own money to fill that pothole TODAY but I'd need to hire a lawyer TOMORROW to get me out of jail if I did.