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?

zettajon,
@zettajon@lemdro.id avatar

Tax any loans using stocks as collateral. If they try to hide their wealth through an LLC, subject that LLC to a high wealth/business tax as well. Go full scorched earth on all billionaires.

nick,

Separate them from their heads. And wealth.

an0nym0us,
@an0nym0us@lemmy.dbzer0.com avatar

Behead them!

mojofrododojo,

You know what’s free?

SHAME. Shame these selfish fucks every fucking second they are in the public. I want to see a 4 year old give musk the finger. I want to hear a 7 year old shout “SELFISH CUNT” at bezos. I want everyone they interact with who’s not on their payroll to roll their eyes and say “oh no everyone watch out, mr “I need to horde billions” is here. What do you fucking want?”

invective has always been a valuable tool against the arsehole polity.

hark,
@hark@lemmy.world avatar

They feel no shame. If they even acknowledge, they just call it “jealousy” from “haters”.

mojofrododojo,

so? if they feel no shame, treat them like the greedy assholes they are. at least everyone else will see the object lesson.

hark,
@hark@lemmy.world avatar

They will not stop if they determine that the cost is outweighed by the benefit, that’s what makes them greedy. They need to be suitably punished or they’re just going to continue their ways.

scottmeme,

Meat grinder

someguy3,

Unions.

Anti trust enforcement.

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.

const_void,

Convince them to take a trip to see the Titanic…

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.

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.

    Illuminostro,

    An upper income cap for individuals AND corporations. $250 million for individuals, $250 billion for corps. 90% taxes on revenue over $1 million. Tax idle stock at 1% per share, per quarter.

    PersonalDevKit,

    Probably one of the most actionable steps so far.

    How do you overcome corporations basing themselves in tax minimum countries, like Apple and Google.

    As well as rich individuals who base their trusts in zero tax inheritance countries.

    Rich people have lots of money to “invest” in accountants and lawyers to work around rules like this.

    Modern_medicine_isnt,

    Yeah, there are a thousand loophole. The very rich get paid in stock or low interest loans and the like. Thier stated income is often very low to avoid paying taxes. Corporations of course can just split up into multiple corporations to avoid caps.

    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

    demesisx,
    @demesisx@infosec.pub avatar

    behead them with guillotines

    an0nym0us, (edited )
    @an0nym0us@lemmy.dbzer0.com avatar

    OP said we should behead them with guillotines which was removed by your cuck lemmy.world mods.

    Hey mods: Jeff Bezos, Mark Zuckerberg, and Elon Musk aren’t going to blow you so you can stop sucking them off.

    FabioTheNewOrder,

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

    chunkmcbeefchest,

    Remember that company that made the base pay $70,000 for everyone. News was predicting (hoping) they would fail in a year. They didn’t, and big surprise, they have amazing staff retention. We need more companies like that. Places that pay well where people want to work. They would eventually pull away all the talent from the horde companies and shut them down. It would be a long fight, but glorious to see the workers sip tea and watch their old companies fail. This is how you beat the current system, by making egalitarian companies that can actually compete with them, where people are proud to work and get paid a living wage.

    rsuri,

    Honestly I think the best means for changing things is right under our noses: voting. Not just federal, but also state and local. As it is now, in most places tax cuts that flow mostly to the wealthy are still a great political move that’s an easy way to get votes. That’s the first thing that needs to change.

    There’s all kinds of groups like the Center for Tax Reform and the US Chamber of Commerce that push for policies that tend to increase financial inequality - but as far as I know there isn’t one for reducing inequality. Given how many people recognize the problem, maybe there should be one. And then politicians can start to fear that group as much as they fear the others. Of course it won’t have a lot of wealthy donors, but as some politicians have shown small donations can do a lot.

    Sprokes,

    Voting doesn’t change anything when billionaires can be easily lobbied. Just look at what happening in France, it is not the US as there are some rules against it but politicians are doing exactly what billionaires want them to do. French people are against those laws in favor of the rich but the gouvernement doesn’t care.

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