Conspiracy Theory World Economic Forum

Remove this Banner Ad

zill said:
You are dead wrong in saying unregulated capitalism is desired. Regulations serve as a barrier to entry, thus maintaining the status quo.
Click to expand...

Name a single regulation that stops you from becoming a billionaire.

It's not regulations stopping you. It's talent.

Most individuals on the Forbes 400 list did not inherit the family business but rather made their own fortune. Kaplan and Rauh found that 69 percent of those on the list in 2011 started their own business, compared with only 40 percent in 1982. In other words, there are fewer people on the Forbes 400 list who came from an affluent background and eventually took over the family business, such as brothers David and Charles Koch (Koch Industries) and the Walton siblings (Wal-Mart), and more self-made people such as Bill Gates (Microsoft), Warren Buffet (Berkshire Hathaway), Philip Knight (Nike), and Stephen Schwarzman (Blackstone Group), who had an upper middle-class upbringing and eventually built their own successful companies.
Click to expand...

https://www.chicagobooth.edu/review/billionaires-self-made

I'm not a socialist. I'm a capitalist.

Take a risk, get a good idea, start a business, and make some money. Gates, Zuckerberg, Bezos, Buffet, Sugar etc. all did it.

Every year the % of self made billionaires increases, and the % of inherited billionaires drops.

You don't seem to understand. Why do you think Rineheart, Murdoch, Trump and Palmer (the latter two literally running for and obtaining office) have all collectively spent literally hundreds of millions of dollars opposing left wing/ socialist parties, and supporting right wing/ capitalist pro-business parties?

You think those four desire socialism? Seriously?
 
Malifice said:
Name a single regulation that stops you from becoming a billionaire.

It's not regulations stopping you. It's talent.
Click to expand...
There are regulations about how many pharmacies there can be in a given area, for example. There are all sorts of rules regarding how close they can be together, definitions of what a large shopping centre is, whether they can supply PBS medications and recieve the govt handout. It is absolutely a barrier to entry to anyone wanting to open a pharmacy. I'm sure similar regulations exist in other industries.
 

Log in to remove this ad.

Malifice said:
Take a risk, get a good idea, start a business, and make some money. Gates, Zuckerberg, Bezos, Buffet, Sugar etc. all did it.

Every year the % of self made billionaires increases, and the % of inherited billionaires drops.
Click to expand...
Attend private school, have rich influential parents...

The beginnings of those guys are well documented. None of them could be said to have pulled themselves up by their bootstraps, they received significant advantages due to being born wealthy.
 
zill said:
Attend private school, have rich influential parents...

The beginnings of those guys are well documented. None of them could be said to have pulled themselves up by their bootstraps, they received significant advantages due to being born wealthy.
Click to expand...

You're good at missing or denying the point that refutes your argument. Of Gates, Zuckerberg, Bezos, Buffet, and Sugar, only one was born into a wealthy family (Gates).

A 3-minute google exercise could prevent your ignorance from being so obvious next time.
 
LuvtheKangas said:
You're good at missing or denying the point that refutes your argument. Of Gates, Zuckerberg, Bezos, Buffet, and Sugar, only one was born into a wealthy family (Gates).

A 3-minute google exercise could prevent your ignorance from being so obvious next time.
Click to expand...
In what what way were they not wealthy? Besides Sugar who i don't know, they were all from wealthy families.
 
zill said:
In what what way were they not wealthy? Besides Sugar who i don't know, they were all from wealthy families.
Click to expand...

How hard is this to understand? Just because you assert it, doesn't make it true - their families were NOT wealthy. Each of them has earned their own significant wealth.
 
LuvtheKangas said:
How hard is this to understand? Just because you assert it, doesn't make it true - their families were NOT wealthy. Each of them has earned their own significant wealth.
Click to expand...
You need to take your own advice and know that just because you assert it, it doesn't make it true.

Zuckers attended a very expensive private school, Bezos got ~250k from his parents to start his business, Buffets dad was a congressman.

In addition to that, Zuckers stole the facebook idea, and was successfully sued to that effect. The paltry settlement he paid pales in comparison to his current wealth. Gates business practices are well known, with the end result being no competitor to the OS.
 
zill said:
You need to take your own advice and know that just because you assert it, it doesn't make it true.

Zuckers attended a very expensive private school, Bezos got ~250k from his parents to start his business, Buffets dad was a congressman.

In addition to that, Zuckers stole the facebook idea, and was successfully sued to that effect. The paltry settlement he paid pales in comparison to his current wealth. Gates business practices are well known, with the end result being no competitor to the OS.
Click to expand...

Zuckerberg's family was middle class. He went to a public school first, then went to the private school at the end. Nothing extraordinary there. The Facebook story is irrelevant to your assertion.

Bezos' father was a drunk, and his mother left him to re-marry when he was 4. His stepfather was a working-class migrant.

Buffett (from his bio): "The son of Howard Homan Buffett, financier and politician, and Leila Buffett, his early life was marked by poverty resulting from the Financial Crash of 1929. Although it sounds like something that many children pursue, living in poverty for the first six years of his life made Warren's decision to become wealthy."
 
LuvtheKangas take your own advice and google them. Buffets father was a stockbroker and congressman, bezos family was wealthy, they literally funded him for $250k to start amazon and owned a large ranch, zuckers family were wealthy. His very expensive private school is only year 9-12, he had to go somewhere before that. That school currently charges $50k a year tuition, hardly within the means of even middle class families.
 
zill said:
LuvtheKangas take your own advice and google them. Buffets father was a stockbroker and congressman, bezos family was wealthy, they literally funded him for $250k to start amazon and owned a large ranch, zuckers family were wealthy. His very expensive private school is only year 9-12, he had to go somewhere before that. That school currently charges $50k a year tuition, hardly within the means of even middle class families.
Click to expand...

You're splitting hairs and you know it. None of these were "wealthy" families.

And which bit of Buffett living in poverty as a child do you not get?
 
LuvtheKangas said:
You're splitting hairs and you know it. None of these were "wealthy" families.

And which bit of Buffett living in poverty as a child do you not get?
Click to expand...
Not wealthy? I already outlined the reasons they were wealthy. Buffet living in poverty up to the age of 6 during the great depression can be offset by his father becoming a congressman and earning 5-6 times the average salary by the time he would be finishing primary school.

You have simply made up the origin stories for these guys like they were characters in a comic book. They all came from wealthy families.
 
LuvtheKangas said:
The Facebook story is irrelevant to your assertion.
Click to expand...
My assertion that the wealthy love regulation? In this example zuck committed ip theft and profited handsomely from it. Reverse the roles and you can be sure zucko will deploy an army of lawyers to protect his ip. The phrase 'pulling up the ladder behind you' comes to mind.
 

(Log in to remove this ad.)

zill said:
My assertion that the wealthy love regulation? In this example zuck committed ip theft and profited handsomely from it. Reverse the roles and you can be sure zucko will deploy an army of lawyers to protect his ip. The phrase 'pulling up the ladder behind you' comes to mind.
Click to expand...

No, it was irrelevant to your assertion that they came from wealthy families.

The people who are mega-wealthy because of extreme family wealth are the likes of the Rothschilds, Kochs, Packers, Trumps, Royal families, etc.

The people that we have been discussing came from comfortable backgrounds, at best, like hundreds of thousands of others. Like hundreds of thousands of others, some went to expensive schools, and some were given some cash to start a business. But a large proportion of people that have had these 'advantages' are unheard of (in the sense of having so much wealth that they are well-known). Just that handful of people we discussed and a few more are mega-wealthy, and in each case that's due to being self-made and not as a result of family wealth and privilege.

But I suspect you still don't or won't accept that.
 
LuvtheKangas said:
No, it was irrelevant to your assertion that they came from wealthy families.

The people who are mega-wealthy because of extreme family wealth are the likes of the Rothschilds, Kochs, Packers, Trumps, Royal families, etc.

The people that we have been discussing came from comfortable backgrounds, at best, like hundreds of thousands of others. Like hundreds of thousands of others, some went to expensive schools, and some were given some cash to start a business. But a large proportion of people that have had these 'advantages' are unheard of (in the sense of having so much wealth that they are well-known). Just that handful of people we discussed and a few more are mega-wealthy, and in each case that's due to being self-made and not as a result of family wealth and privilege.

But I suspect you still don't or won't accept that.
Click to expand...
The whole conversation was that the wealthy like regulation, because they can afford lawyers and/or fines. That these people came from wealthy families was just a part of the conversation.
 
zill said:
The whole conversation was that the wealthy like regulation, because they can afford lawyers and/or fines. That these people came from wealthy families was just a part of the conversation.
Click to expand...

Yeah, nah.

zill said:
Attend private school, have rich influential parents...

The beginnings of those guys are well documented. None of them could be said to have pulled themselves up by their bootstraps, they received significant advantages due to being born wealthy.
Click to expand...
 
zill said:
There are regulations about how many pharmacies there can be in a given area, for example. There are all sorts of rules regarding how close they can be together, definitions of what a large shopping centre is, whether they can supply PBS medications and recieve the govt handout. It is absolutely a barrier to entry to anyone wanting to open a pharmacy. I'm sure similar regulations exist in other industries.
Click to expand...

You're aware it was the Menzies Government that put into place the Health Act (1953) where those laws originate right?

Was Menzies secretly a socialist as well?
 
zill said:
Malifice You should really be asking yourself why a capitalist like Menzies allowed such regulations at all, surely he wanted everything unregulated as you have suggested that is what capitalists desire.
Click to expand...

Conservatives are not all free market Capitalists.

The National Party in Australia are pro tariffs and anti free markets for example. It's a constant source of friction between themselves and their coalition partners the Liberals.

As a general rule though white collar corporate types hitch their wagons to the Conservative parties.

Surely you are not arguing otherwise?
 
I'm only arguing that regulations are desired by the wealthy. If you have enough money it is bettet to break the law then pay a paltry fine, like i said it is a business decision. Pfizer is a company to look at, i believe they have paid the most in fines settlements etc... an upstart conpetitor couldn't use the same tactics as the really big corporations can.
 

Remove this Banner Ad

Conspiracy Theory World Economic Forum

Remove this Banner Ad

Back
Top