What are the best steps to reduce the wealth of billionaires?

There are a myriad of news articles here on Lemmy that display the abhorrent influence billionaires have on our society (especially the US, where I reside). I consistently read comments where the posters appear hopeless and despondent of the situation, while others jokingly refer to the guillotine.

As for myself, I have recently found myself with a lot of free time on my hands after being laid off and want to gather ideas on what would be the best hypothetical route to solve this issue. Let me be clear: These are only THEORETICAL IDEAS and I do not condone any illegal activity.

Historical precedent: While I am not intimately familiar with the inner workings of the Occupy Movement, I do know that they were constantly attacked as being unorganized and lacking structure. It would be wise to not fall into the same pitfalls if those were accurate assessments.

Logical formulation: The foundations of the key points of the movement must be logically sound to withstand any external (and internal for that matter) scrutiny.

Motto: If a motto or slogan is chosen, it must be unambiguous so that attacks are directed to the movement, not the motto itself.

I am also aware that most people can’t spare any time to these kind of movements. Similar to the Texas seceding news, many commentators have noted that most Texans are living paycheck to paycheck and wouldn’t be able to dedicate any time to their cause. I would understand that would be same for this cause as well. However, since I have the time right now, I only ask for your ideas.

Broad issues: High cost of living (mortgages, rent, groceries, etc.) Inflation Homelessness

Philosophical underpinnings: Is there a Threshold of Greed? If so, what is too much wealth?

Possible means of reductions: Voluntary donation or renunciation of wealth past a certain point (highly unlikely) Taxation (also unlikely) Seizing assets (illegal and would most likely set a poor precedent)

It might also to organize an open database of billionaires with their respective fields (Forbes is closed) to help organize a boycott of some sort Though I suspect their fingers are in everything and it would be highly impractical.

Sorry for the word diarrhea. What are your thoughts?

beebarfbadger,

No need, I’ve been hearing that it’s good when they get all the money shoved at them BECAUSE, and hear me out now, they may or may not choose to maybe trickle some of the wealth they don’t obsessively hoard or burn on pleasure trips into space back onto the population.

They’re bound to start doing that aaaaaany decade now…

Modern_medicine_isnt,

I don’t think movements succeed based on being organized. I think the core factor is people having nothing to lose.

DecarbonatedOdes,

That could be true. I’m only repeating what I heard en mass during the Occupy Protests of the perceived reason of failure.

ComradePorkRoll, (edited )

I hear what you’re saying. I don’t see the methods you listed working under our government as our system has this flaw where the laws enforced tend to depend on which party is in charge.

That being said, organize your workplace. I’m personally fond of the Industrial Workers of the World as we are the only union that has an anticapitalist stance and our industrial organizing methods make it harder for employers to create division amongst the workers of a workplace (ie: separate unions for school teachers and school maintenance staff).

SheerDumbLuck, (edited )

Immediate impact:

  • wealth tax.

Medium term:

  • death tax.
  • nonprofit land developments.
  • redefinition of the goal of a public corporation from maximizing profit for shareholders to something that makes sense.

Long term:

  • effective antitrust legislation, policy, and enforcement.
  • worker owned co-ops
  • civic education

Edit: I forgot unions and labour protection in immediate impact.

Silentiea,

redefinition of the goal of a public corporation from maximizing profit for shareholders to something that makes sense.

Any suggestions?

SheerDumbLuck,

I’d rather leave it to the experts who study this stuff.

The only one I’ve heard of is called the “triple bottom line”. en.wikipedia.org/wiki/Triple_bottom_line

SuperSpruce,

A focus on long term profitability over the next quarter’s profits would go a long way in making things better.

FabioTheNewOrder,

The best steps would be the ones taking them to the guillotine

Coach,

Shop local.

Oh, yeah…and guillotines.

TexMexBazooka,

Guillotines

foggy,

deleted_by_moderator

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    DecarbonatedOdes, (edited )

    Wait, who is deleting posts? Edit: Nevermind, it’s the lemmy.world mods.

    GiddyGap,

    Taxation (also unlikely)

    I think this is the most feasible way, and it work relatively well in other Western countries than the US. They still have billionaires, but fewer due to higher taxation. If put in place through referendum, it also creates a basis for societal approval of stripping very wealthy people of their excess wealth, lowing the risk of widespread revolt.

    an0nym0us,
    @an0nym0us@lemmy.dbzer0.com avatar

    Unapologetically behead every last one of them.

    demesisx, (edited )
    @demesisx@infosec.pub avatar

    we should just Go aroUnd acting lIke they are the best ever Landlords on the pLanet and there is nOthing unusual abouT them beIng the oNly people on earth familiar with thE concept of happiness, right fellow captive serfs?

    foggy,

    I’m not sure, I kinda feel like we could use GUILLOTINES the way GUILLOTINES have been used historically, to spread that happiness around.

    mydude,

    deleted_by_moderator

    •
    skozzii,

    You have to be pure evil to be a billionaire, sitting on that much wealth with so many suffering in the world you can easily help. They are psychopaths if you think about it.

    I’m down with the guillotine.

    barryamelton, (edited )

    Tax the income of corporations not the profit. The same way you get taxed your VAT. That means that corporations can’t tax evade: if they make income in a country, they get taxed. They can’t go an declare the profit in the Netherlands or Ireland and skip paying taxes.

    Create and use parallel institutions to allow society to thrive without needing to play the billionares economy game. Example: communication tools outside of a market involvement such as Lemmy, Element (matrix). Economy tools. Association tools. See the application of Dual Power by socialists, which is what you are proposing here, a redistribution of power and wealth.

    Vote for those pushing for these.

    QuarterSwede,
    @QuarterSwede@lemmy.world avatar

    This is brilliant in its simplicity.

    Sagifurius,

    They wouldn’t exist if the currency wasn’t worthless, maybe linking cash to reality again would fix it? The real terms richest man corrected, even today, was a Roman so just get us back on gold.

    EdyBolos,

    All the people saying taxes or caps on income are missing the point. Who should impose those taxes or caps? The government is basically controlled by billionaires, it doesn’t matter what the ordinary citizens want.

    WanderingVentra,

    Hence the guillotines answer I’ve seen float around

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