Man I am kinda sorry, that I invade your worldview.
But rich people don’t have all their money stored in a vault like Dagobert Duck. It’s all stocks.
And boy, if one of the companies make losses, then their money goes downhill. It’s volatile.
And due to immense concurrence in innovation in the tech sector, every investor has a huge interest in innovation.
And with many investment, the start of a company is ensured.
The current capitalism is the system that works best.
Especially the US capitalism is one hell of a driver in innovation.
I live in Germany and many companies wouldn’t be possible here. Even though we have capitalism, it’s much softer than its US counterpart.
The downside of course is poverty for cheaper labour.
And that’s brutal, but it’s the reality we live in.
Though I wouldn’t want to live in the US without healthcare, on the counter side I wouldn’t want to start a company here in Europe.
UserDoesNotExist, what you’ve just said is one of the most insanely idiotic things I have ever heard. At no point in your rambling, incoherent response were you even close to anything that could be considered a rational thought. Everyone on this website is now dumber for having read it. I award you one downvote, and may God have mercy on your soul.
Did you read any of those links? 10% of world GDP. That’s not relatively little. That’s insane.
I have only overflown the Oxford paper. Caught my attention with the affect of increasing taxing the rich. Interesting take, but purely theoretical with no reasonable adaption possibility. The rich would just leave the country and some other country would profit from their taxes.
And stocks doesn’t automatically mean good. How much of that is speculative bubbles and hype-driven overvalued stocks?
If you believe to know which ones are overvalued, then you should try to go buy short positions in them. Maybe you become rich then?
Jokes aside. The stock market is relatively precise, it also projects potential into the future.
Due to that many stocks to combat climate change have risen in popularity and a lot of money has been brought to said companies by purely capitalistic driven motives.
Rich people are people and most people don’t just up and leave behind places they’ve built their lives in unless under extreme pressure. A few billionaires might relocate to the Bahamas but they’re not going to be able to take their mansions and penthouses with them - and they lose out on the markets, infrastructure, and other benefits of their home countries. That’s a major incentive to just pay the taxes.
If you believe to know which ones are overvalued, then you should try to go buy short positions in them. Maybe you become rich then?
Who says I haven’t done that already?
The stock market is relatively precise, it also projects potential into the future.
The stock market is not precise. I have data and papers discussing this - but there’s no need for them. I’ll instead leave you with a simple question: if the stock market is so precise, why is there a major crash every decade?
Due to that many stocks to combat climate change have risen in popularity and a lot of money has been brought to said companies by purely capitalistic driven motives.
Sure, purely capitalistic motives, which is why a lot of these are impractical venture capital BS and outright scams. It is currently more profitable to greenwash than it is to actually solve the problem.
Rich people are people and most people don’t just up and leave behind places they’ve built their lives in unless under extreme pressure. A few billionaires might relocate to the Bahamas but they’re not going to be able to take their mansions and penthouses with them - and they lose out on the markets, infrastructure, and other benefits of their home countries. That’s a major incentive to just pay the taxes.
As I said, it depends on the country and the relative situation to other countries.
If you believe to know which ones are overvalued, then you should try to go buy short positions in them. Maybe you become rich then?
Who says I haven’t done that already?
I do. Because you are still here. Arguing on the internet, a cesspool of morons, you and I included.
The stock market is relatively precise, it also projects potential into the future.
The stock market is not precise. I have data and papers discussing this - but there’s no need for them. I’ll instead leave you with a simple question: if the stock market is so precise, why is there a major crash every decade?
Because events, such as Corona and the ausraube war temporarily lower the estimated gains. Losses are expected. So the value weds to be corrected according to those losses.
Due to that many stocks to combat climate change have risen in popularity and a lot of money has been brought to said companies by purely capitalistic driven motives.
Sure, purely capitalistic motives, which is why a lot of these are impractical venture capital BS and outright scams. It is currently more profitable to greenwash than it is to actually solve the problem.
Companies such as Linde plc are no scam. They existed far longer than the climate drama. Their value just increased because demand in their products increased as well.
Greenwashing is only done in media. Company winnings and numbers don’t lie. (Except if they do. Fuck wirecard)
It’s interesting, but I have to point out that some of the evidence they use is stuff like manufacturers relocating to China, which happens regardless of tax rates.
The stuff about energy costs is also nothing to do with taxes but rather Germany’s energy policy missteps.
Also the author randomly referring to “Genderforschern” und “Gleichstellungsbeauftragten” at the end damages the credibility of the article a lot - seems very culture-war motivated.
I agree that the way in which the taxes are implemented and how the bureaucracy works has a major impact though. But this doesn’t mean taxing the rich is imppssible, just needs to be done right, like all policy.
I do. Because you are still here. Arguing on the internet, a cesspool of morons, you and I included.
Rich people waste time arguing with morons on the internet all the time! Have you seen Musk’s Twitter feed lately?
In fact the only reason I am doing this is because I have time to kill; and that’s only possible thanks to the fact that I am wealthy enough to take days off work pretty much whenever I want, without fearing starvation. Unlike ~90% of people globally who live paycheck to paycheck.
The idea that rich people are always busy being productive is simply wrong. I know enough of them personally to know that most of their ‘working’ hours aren’t very strenuous to say the least.
Because events, such as Corona and the ausraube war temporarily lower the estimated gains. Losses are expected. So the value weds to be corrected according to those losses.
Have you heard of the 2008 crash? Dot com bubble? SVB, FTX and other crypto crap, etc? Markets crash regularly regardless of Corona or wars.
Also the fact that markets fail to consider wars and pandemics, whereas experts were warning about these for years before they happened, is further evidence that we can do better than relying on markets for everything.
There must be some way to develop a system of knowledge aggregation, decisionmaking, and resource allocation that isn’t prone to ignoring very obvious risks.
Greenwashing is only done in media. Company winnings and numbers don’t lie. (Except if they do. Fuck wirecard)
Oh brother
Man I am kinda sorry, that I invade your worldview.
But rich people don’t have all their money stored in a vault like Dagobert Duck. It’s all stocks.
And boy, if one of the companies make losses, then their money goes downhill. It’s volatile.
And due to immense concurrence in innovation in the tech sector, every investor has a huge interest in innovation.
And with many investment, the start of a company is ensured.
The current capitalism is the system that works best.
Especially the US capitalism is one hell of a driver in innovation. I live in Germany and many companies wouldn’t be possible here. Even though we have capitalism, it’s much softer than its US counterpart.
The downside of course is poverty for cheaper labour.
And that’s brutal, but it’s the reality we live in.
Though I wouldn’t want to live in the US without healthcare, on the counter side I wouldn’t want to start a company here in Europe.
UserDoesNotExist, what you’ve just said is one of the most insanely idiotic things I have ever heard. At no point in your rambling, incoherent response were you even close to anything that could be considered a rational thought. Everyone on this website is now dumber for having read it. I award you one downvote, and may God have mercy on your soul.
Sorry if you do not understand the system we live in.
Ribbit
btw they do store a lot of their money in vaults where it doesnt benefit the economy at all.
This is in the form of expensive art that stays in containers in tax-free zones, and offshore accounts in tax havens.
Please educate yourself.
https://archive-yaleglobal.yale.edu/content/how-wealthy-sell-treasures-tax-free
https://www.icij.org/inside-icij/2017/09/7-charts-show-how-rich-hide-their-cash
https://en.wikipedia.org/wiki/Panama_Papers
https://academic.oup.com/ser/article/20/2/539/6500315
But most of it is still invested in stocks. So those few links have relatively little impact.
Did you read any of those links? 10% of world GDP. That’s not relatively little. That’s insane.
And stocks doesn’t automatically mean good. How much of that is speculative bubbles and hype-driven overvalued stocks?
I have only overflown the Oxford paper. Caught my attention with the affect of increasing taxing the rich. Interesting take, but purely theoretical with no reasonable adaption possibility. The rich would just leave the country and some other country would profit from their taxes.
If you believe to know which ones are overvalued, then you should try to go buy short positions in them. Maybe you become rich then?
Jokes aside. The stock market is relatively precise, it also projects potential into the future. Due to that many stocks to combat climate change have risen in popularity and a lot of money has been brought to said companies by purely capitalistic driven motives.
This is an oft-repeated talking point but usually contradicted by data. Sounds smart but isn’t smart.
https://www.theguardian.com/inequality/2017/nov/20/if-you-tax-the-rich-they-wont-leave-us-data-contradicts-millionaires-threats
https://www.taxresearch.org.uk/Blog/2017/11/20/if-you-tax-the-rich-they-dont-move-they-just-pay/
Rich people are people and most people don’t just up and leave behind places they’ve built their lives in unless under extreme pressure. A few billionaires might relocate to the Bahamas but they’re not going to be able to take their mansions and penthouses with them - and they lose out on the markets, infrastructure, and other benefits of their home countries. That’s a major incentive to just pay the taxes.
Who says I haven’t done that already?
The stock market is not precise. I have data and papers discussing this - but there’s no need for them. I’ll instead leave you with a simple question: if the stock market is so precise, why is there a major crash every decade?
Sure, purely capitalistic motives, which is why a lot of these are impractical venture capital BS and outright scams. It is currently more profitable to greenwash than it is to actually solve the problem.
You don’t have to take my word for it: https://www.cnbc.com/2020/02/26/chamath-palihapitiya-esg-investing-is-a-complete-fraud.html
Yes and No. it leads depends on the country and where it is still tolerable and where it is not. In Germany and France we already see people leave. link to a german article. you will need a translator.
As I said, it depends on the country and the relative situation to other countries.
I do. Because you are still here. Arguing on the internet, a cesspool of morons, you and I included.
Because events, such as Corona and the ausraube war temporarily lower the estimated gains. Losses are expected. So the value weds to be corrected according to those losses.
Companies such as Linde plc are no scam. They existed far longer than the climate drama. Their value just increased because demand in their products increased as well. Greenwashing is only done in media. Company winnings and numbers don’t lie. (Except if they do. Fuck wirecard)
I will look later into that article.
Just read the German article.
It’s interesting, but I have to point out that some of the evidence they use is stuff like manufacturers relocating to China, which happens regardless of tax rates.
The stuff about energy costs is also nothing to do with taxes but rather Germany’s energy policy missteps.
Also the author randomly referring to “Genderforschern” und “Gleichstellungsbeauftragten” at the end damages the credibility of the article a lot - seems very culture-war motivated.
I agree that the way in which the taxes are implemented and how the bureaucracy works has a major impact though. But this doesn’t mean taxing the rich is imppssible, just needs to be done right, like all policy.
Rich people waste time arguing with morons on the internet all the time! Have you seen Musk’s Twitter feed lately?
In fact the only reason I am doing this is because I have time to kill; and that’s only possible thanks to the fact that I am wealthy enough to take days off work pretty much whenever I want, without fearing starvation. Unlike ~90% of people globally who live paycheck to paycheck.
The idea that rich people are always busy being productive is simply wrong. I know enough of them personally to know that most of their ‘working’ hours aren’t very strenuous to say the least.
https://www.readthemaple.com/i-was-born-wealthy-and-know-rich-people-dont-work-harder-than-you/
Have you heard of the 2008 crash? Dot com bubble? SVB, FTX and other crypto crap, etc? Markets crash regularly regardless of Corona or wars.
Also the fact that markets fail to consider wars and pandemics, whereas experts were warning about these for years before they happened, is further evidence that we can do better than relying on markets for everything.
There must be some way to develop a system of knowledge aggregation, decisionmaking, and resource allocation that isn’t prone to ignoring very obvious risks.
Company winnings and numbers lie all the time. https://yewtu.be/watch?v=Wx51CffrBIg https://yewtu.be/watch?v=Y9KPcQqG0ao
There are countless cases of companies making shit up and markets and investors falling for it.