What is the point of billionaires?

What is the point of the world having individuals amassing billions and billions of unused money when there are so many people living in poverty? Could there not be a cut off point of even one hundred million dollars or the equivalent which any individual would be allowed to keep and the rest to help humanity?
21:57 Sun 05th Feb 2012
 
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Nobody said life is fair....
If there couldn't be billionaires the rich would have no incentive to work.
I have thought along similar lines for years, I believe the idea is called communism ! Has never worked so far , but I live in hope.
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It's called the market economy. It's the parliamentary dictatorship we live under which our politicians tell us is so wonderful as they make cuts to essential services and to those who are struggling - whilst continuing to line their own pockets with 'expenses' and impressive pernsion plans! They also tell us how fortune we are that we live in a political system in which we vote for them!

Wealth could be more equally distributed of course - but then the politicians would tell us that we are lucky we can vote for them and we wouldn't want any other system would we? "No, of course not say the voters. We're really grateful we have you as our leaders" Baa. Baa.
That's aspirational Eddie, shame on you.
that answer doesn't make sense, eq, is it in the right place?
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Yeah but communism has never panned out as it should cos the leaders turn into capitalists.
Sandyroe is right. You just can not have a cut off point for wealth as any politician making this law would be committing political suicide. They would just store their wealth abroad in Switzerland anyway. These billionaires are providing us a service in employing us all and I do not begrudge them their wealth at all. You can not take it with you and everyone knows that money does not bring happiness.

Can anyone else back me up on this point?
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It does a bit john, it does a bit.
JB - something that the Labour Party in the UK need to learn quick - that we live in a global market and not the isolated country called the UK.

Be it wealth, bonuses and salary, tax evasion, even more altrusitic concepts like Intellectual Property, then folk will gravitate to the place in the world that offers them the personal (or group) advantages. Just like trading global commodities as well....
I'm afraid eddie has summed it up.
I'm sure most of the people on this thread have got some spare cash they could hand over to charity easily enough.

But do they?......no.

It's the same with billionaires, it's just that the numbers are bigger.
I know it sound daft but if it wasn't for the billionaires we would have to pay a lot more income tax. ok, so many find ways to hide most of their loot on tax dodge schemes... but the business they create that pays company tax keeps the economy afloat.

There is no way anyone person can be earning over 1million per annum, but to keep the brainiacs in this country the salaries have to match the overseas offers or we'le lose them. It is a viscous circle.
If all of todays money were to be redistributed equally, within 5 years the situation would revert back to where it started.
give it to me....NOW ...
why should anyone tell you how much money you can have, it may not be fair to you, besides it's not to say that billionaires don't give loads away to charities, thus spreading their wealth around to the poor
Murray.....good morning


"give it to me....NOW ..."

When did you utter those words last?
If there were no billionaires, there would be no one to buy teams like Chelsea, and turn them from mediocre mid table teams, to mediocre near the top but not actually top of the table teams.

When I'm a billionaire, I'm going to buy Brighton FC. I won't change very much, but there will be a free bar and food for all home games.

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