Kevin O'Leary (worth $300m) says 3.5 billion people living in poverty is 'fantastic news'
39 replies, posted
Its a systematic problem, you have the 1% hoarding this massive amount of wealth without much of it going back into the economy (See Velocity of Money), a wage gap that already prevents most people from spending beyond just the bare essentials and an already stagnate economy.
Its a vicious cycle that can be broken easily by heavily taxing the 1% like we did back in post-WWII US when our economy was Uber-fucking-strong in order to put more money into the hands of the masses (Either by subsidization to lower the cost of bare essentials, basic healthcare, etc) which in turn they can spend back into the economy to keep it going.
If this economy of consumeristic capitalism is to work, the 1% [U]have[/U] to put money back into the economy or everything collapses. Its a two-way street.
I actually don't think i've wanted to punch someone so hard in a long time, props to that anchor for showing restraint i'd have gone full on nuts at the guy for saying such stupid deluded bullshit.
Yes let me work hard on abusing Tax Loop Holes, abusing workers by not paying them fair wages, hiding money from the government and tax systems, moving my money outside of the country I'm housed in.
Let me just work hard and do all these scummy things so I can get rich and step on the necks of everyone below me! GREAT NEWS.
This dude is so fucking disconnected, yeah great you make a lot of money. But the majority of business do a lot of shady shit and damage the economy.
[QUOTE=Smoot;50745955]I don't disagree with Kevin. There are a lot of cases where people work hard and smart to pull themselves out of poverty.[/QUOTE]
And I guarantee you very few to none of those 85 richest people in the world pulled themselves out of poverty to make their fortunes.
[QUOTE=Dirty_Ape;50749744]And I guarantee you very few to none of those 85 richest people in the world pulled themselves out of poverty to make their fortunes.[/QUOTE]
with the exception of those who did it because they gained wealth by inheritance / someones will
But do people still believe that becoming rich is just a matter of time? That they're just temporarily embarrassed millionaires?
[QUOTE=J!NX;50749811]with the exception of those who did it because they gained wealth by inheritance / someones will[/QUOTE]
Which isn't "pulling themselves out".
I also highly doubt that any relative of someone wealthy enough to leave an inheritance to make them one of the 85 richest people would leave it to someone so far out of their favor that they're in poverty.
[QUOTE=Smoot;50745955]I don't disagree with Kevin. There are a lot of cases where people work hard and smart to pull themselves out of poverty.[/QUOTE]
You're operating under the assumptions that all those people are just middle class families that hit a rough patch.
Imagine having no house, no money, no contacts and your name is worthless to anyone. Working hard doesn't guarantee jack shit.
Sorry, you need to Log In to post a reply to this thread.