Full Version: Leave No Billionaire Behind
Millions is craft. Billions is art.
--- William Hamilton
It's a good time to be wealthy. I mean really wealthy. The Forbes 500 richest people list is out (and once again, I'm not on it--yet!)
http://www.chron.com/cs/CDA/ssistory.mpl/business/2422081
http://www.chron.com/cs/CDA/ssistory.mpl/front/2422831
I'm not hatin' on the people who have mega-loot. I'm sure they worked really hard for it. Well, some of them I guess. Okay, maybe a few.
But just for the sake of debate is there such a thing as being too rich? My imagination is pretty vast, but I can't fathom what I could possibly do with $1 billion dollars let alone Bill Gates Bucks.
Do you think the Super-Rich are TOO rich and would you want to be a billionaire?
And the super-rich is exactly why people shouldn't fall for the "death taxes" argument. Our founding fathers HATED the idea of an aristocracy that could just lay around and do nothing while passing their assets on to their children, who could then just lay around and do nothing. They valued work.
"Death taxes", as estate taxes have been charmingly renamed, are just a way to level the playing field for everyone.
I'm not on the list either, of course. Dad screwed up and didn't make enough money in his time, so I'm stuck having to make it on my own.
Ok, done venting now.
"Death taxes", as estate taxes have been charmingly renamed, are just a way to level the playing field for everyone.
I'm not on the list either, of course. Dad screwed up and didn't make enough money in his time, so I'm stuck having to make it on my own.
Ok, done venting now.
Let me answer the second question first, since it is much easier. I'm as greedy as anybody else, and I would never turn down wealth. However, as you say, it's hard to imagine what I would do with billions as opposed to millions. Do a lot of good work, I would hope.
Is it possible to be too rich? Depends on the person, I suppose. Most of the super-rich combine lives of luxury with a lot of charity work, and many run businesses that employ a lot of people, and so on. There are, I'm sure, some playboys and playgirls who just lead a life of indulgence. There are some who throw lots of money at causes of which I do not approve.
Here's some information that I thought was interesting. Take it with a grain of salt, since it is from a newspaper that many will see as leaning to the left. (Maybe someone who is better at searching the net than I am can find the "broad range of statistics" left uncited here.
Hearing Explores Big Gap Between Wealthy and Poor
This is what caught my eye.
Again, I don't take this as written in stone, and it would be nice to have statistics more recent than 1994, but if there is any truth to this at all, it concerns me. I am not an advocate of wealth redistribution, and I try not to encourage class envy, but wouldn't it be nice if everybody got a little richer?
Is it possible to be too rich? Depends on the person, I suppose. Most of the super-rich combine lives of luxury with a lot of charity work, and many run businesses that employ a lot of people, and so on. There are, I'm sure, some playboys and playgirls who just lead a life of indulgence. There are some who throw lots of money at causes of which I do not approve.
Here's some information that I thought was interesting. Take it with a grain of salt, since it is from a newspaper that many will see as leaning to the left. (Maybe someone who is better at searching the net than I am can find the "broad range of statistics" left uncited here.
Hearing Explores Big Gap Between Wealthy and Poor
This is what caught my eye.
QUOTE
The United States is the world's richest nation but has the widest gap between rich and poor of any industrialized country, according to a broad range of statistics. Income for the richest one-fifth of American households soared 24 percent between 1979 and 1994 while it sank 11 percent for the poorest one-fifth.
Again, I don't take this as written in stone, and it would be nice to have statistics more recent than 1994, but if there is any truth to this at all, it concerns me. I am not an advocate of wealth redistribution, and I try not to encourage class envy, but wouldn't it be nice if everybody got a little richer?
QUOTE(nighttimer @ Feb 27 2004, 09:15 PM)
Do you think the Super-Rich are TOO rich?
No. I too don't believe in (forced) wealth redistribution.
QUOTE(nighttimer @ Feb 27 2004, 09:15 PM)
Would you want to be a billionaire?
Being a billionaire is a heavy responsibility. The more is given, the more is required. People all around the world will be thinking of legal and illegal ways to get to your money. You have to think about how to track and invest all that money. You have to think about how to pass the money to others without spoiling them. You have to figure out how to minimize taxes.
So, I'm not sure if I'm able to handle all this... at least not yet.
So you think Paris Hilton is finding the responsibility of being a billionare very heavy right now? LOL- she couldn't even finish high school, she ended up taking the GED!
Hmmn, Billionairism....
From all that I've read and heard, after a few million its really a game of winning or losing and power, no longer about the money at all. Donald Trump has made a few references to this if I remember, and he's had plenty of ups and downs having lost almost all... but once youve made a few millions, you can go bankrupt and many will invest in your projects and plans again, knowing you have what it takes.
A time ago, a millionaire friend once told me that, 'a person who has made a million can lose it all and easily go back to making a million or more once again, yet (as in the lottery) you can give a person a million, they may/will easily lose it, never to make any similar amount again in their lives.
Having too much money takes extreme vigilance and savvy. The show 'The Apprentice' has been interesting, showing to me some of the 'hows and whys' in Trumps psychology in dealing with people and business acumen, sometimes not what I would expect and sometimes going 100% against his closest advisors with total confidence, or perhaps a spin of the wheel. At that level you can afford to play the wildcard sometimes, and also, its television.
To answer the debate question, I dont think the super-rich are too rich...or more so, I dont believe in wealth distribution if thats whats being suggested, but knowing nighttimer I dont think so, but dont know where the question leads.
I have some concerns about the ever increasing gap between the have a lots and the burden on the middle class; a well as tax breaks, kickbacks and loopholes in our corporate tax structure, cronyism in government and lax (read almost non-existant) penalties for corporate fraud. I am furious about Enron, having lived in Houston and seen so many effected and nothing done about it as Ken Lay lives today with his millions and so many lost their pensions and have no legal or other recourse as of now. I would stage a public hanging, but thats oh-so medieval and would not solve the problem.
As for being a billionaire, it would be much easier than being a millionaire. At the billionaire level, much responsibility is already regulated to so many others who are watching your back for their own interests that you may actually have time to enjoy your money, sometimes and not lose great amounts in the event of crisis. At the millionaire level (ratio-loss), you better be watching closely that you are not going to be supremely ripped off by anyone from your accountant to your husband/wife, the IRS, suits of any kind, insider trading (Martha), scandal (Rush) etc.
One problem I see with having money is one never knows if someone likes you for you, a distrust Ive seen among the very wealthy, and that must be a hard thing to negotiate inside oneself ultimately. You know, all your neighbors are friendly when you get an underground swimming pool, and talking crap behind your back.
I could use a million or two. I would then make myself extremely scarce to the public, invest wisely and live 'relatively' simply, since that is my nature anyway. Although, that would be with a ranch, horses, other animals, a maid, nice vacations to the beach, pre-nupts and overall perceived as wealthy, with all those inherent problems, Watching Your Money from those who would like to part you from it. IE: Exhausting? I guess its just part of the program when you get there.
Oh, I was not on the Forbes list..How did they leave me out?
From all that I've read and heard, after a few million its really a game of winning or losing and power, no longer about the money at all. Donald Trump has made a few references to this if I remember, and he's had plenty of ups and downs having lost almost all... but once youve made a few millions, you can go bankrupt and many will invest in your projects and plans again, knowing you have what it takes.
A time ago, a millionaire friend once told me that, 'a person who has made a million can lose it all and easily go back to making a million or more once again, yet (as in the lottery) you can give a person a million, they may/will easily lose it, never to make any similar amount again in their lives.
Having too much money takes extreme vigilance and savvy. The show 'The Apprentice' has been interesting, showing to me some of the 'hows and whys' in Trumps psychology in dealing with people and business acumen, sometimes not what I would expect and sometimes going 100% against his closest advisors with total confidence, or perhaps a spin of the wheel. At that level you can afford to play the wildcard sometimes, and also, its television.
To answer the debate question, I dont think the super-rich are too rich...or more so, I dont believe in wealth distribution if thats whats being suggested, but knowing nighttimer I dont think so, but dont know where the question leads.
I have some concerns about the ever increasing gap between the have a lots and the burden on the middle class; a well as tax breaks, kickbacks and loopholes in our corporate tax structure, cronyism in government and lax (read almost non-existant) penalties for corporate fraud. I am furious about Enron, having lived in Houston and seen so many effected and nothing done about it as Ken Lay lives today with his millions and so many lost their pensions and have no legal or other recourse as of now. I would stage a public hanging, but thats oh-so medieval and would not solve the problem.
As for being a billionaire, it would be much easier than being a millionaire. At the billionaire level, much responsibility is already regulated to so many others who are watching your back for their own interests that you may actually have time to enjoy your money, sometimes and not lose great amounts in the event of crisis. At the millionaire level (ratio-loss), you better be watching closely that you are not going to be supremely ripped off by anyone from your accountant to your husband/wife, the IRS, suits of any kind, insider trading (Martha), scandal (Rush) etc.
One problem I see with having money is one never knows if someone likes you for you, a distrust Ive seen among the very wealthy, and that must be a hard thing to negotiate inside oneself ultimately. You know, all your neighbors are friendly when you get an underground swimming pool, and talking crap behind your back.
I could use a million or two. I would then make myself extremely scarce to the public, invest wisely and live 'relatively' simply, since that is my nature anyway. Although, that would be with a ranch, horses, other animals, a maid, nice vacations to the beach, pre-nupts and overall perceived as wealthy, with all those inherent problems, Watching Your Money from those who would like to part you from it. IE: Exhausting? I guess its just part of the program when you get there.
Oh, I was not on the Forbes list..How did they leave me out?
Hmmm . . .
Is there such a thing as being too rich? It does seem that way to me. I don't know why anyone would want to be that rich. It seems to me if you have more money than you can spend on your needs and wants, that may be too rich.
I must qualify that I don't believe in taking that money away from folks (other than their lawfully owed taxes, of course).
Would I like to be a billionaire?
Only if I didn't have to remain a billionaire. I would feel guilty holding on to so much money when there is so much suffering in the world, a lot of which could be relieved by puting money in the right places. And then there's the stress involved as well.
If I received the gift of a billion dollars, I'd probably start spending the money right away. First on the list are some worthy organizations that I've researched that are really making a difference. Then I'd buy all my friends and family environmentally friendly designed homes and hybrid cars. I'd put a relatively small chunk away to live off of to do activism full time, and with the rest I'd travel the world and go to college to earn degrees in the 10 or more majors I'm interested in.
So I'd only be a billionaire for a day or so!
Is there such a thing as being too rich? It does seem that way to me. I don't know why anyone would want to be that rich. It seems to me if you have more money than you can spend on your needs and wants, that may be too rich.
I must qualify that I don't believe in taking that money away from folks (other than their lawfully owed taxes, of course).
Would I like to be a billionaire?
Only if I didn't have to remain a billionaire. I would feel guilty holding on to so much money when there is so much suffering in the world, a lot of which could be relieved by puting money in the right places. And then there's the stress involved as well.
If I received the gift of a billion dollars, I'd probably start spending the money right away. First on the list are some worthy organizations that I've researched that are really making a difference. Then I'd buy all my friends and family environmentally friendly designed homes and hybrid cars. I'd put a relatively small chunk away to live off of to do activism full time, and with the rest I'd travel the world and go to college to earn degrees in the 10 or more majors I'm interested in.
So I'd only be a billionaire for a day or so!
Do you think the Super-Rich are TOO rich
Who am I to judge what is too rich? If these people have made money legally, then it is simply none of my business.
and would you want to be a billionaire?
I would love to be wealthy to the point of not having to worry about anything financially. I’d love to own a home on every continent, well ‘cept Antarctica. Most of my homes would have to be by the ocean (I can picture myself in the Caribbean.... doing nothing.....all the way. (sigh)
)
I give a set amount to charity every month now, so I know I would help others even more if I were rich. I’d have to volunteer some of my time to charitable events too, because for the most part, I need to be busy.
If I were a rich man, Daidle deedle daidle Daidle daidle deedle daidle dum
Who am I to judge what is too rich? If these people have made money legally, then it is simply none of my business.
and would you want to be a billionaire?
I would love to be wealthy to the point of not having to worry about anything financially. I’d love to own a home on every continent, well ‘cept Antarctica. Most of my homes would have to be by the ocean (I can picture myself in the Caribbean.... doing nothing.....all the way. (sigh)
) I give a set amount to charity every month now, so I know I would help others even more if I were rich. I’d have to volunteer some of my time to charitable events too, because for the most part, I need to be busy.
If I were a rich man, Daidle deedle daidle Daidle daidle deedle daidle dum
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