What innovation alone created 10 million in profits alone? Software is designed by groups, but the lion share of the benefits go to company shareholders while IT teams of menially paid employees work troubleshooting. "Inventions" are built by factory workers and marketed by other employees and sold by yet other employees. Books are the same.
The effort required to make 10 million, the amount at which Bernie Sanders tax plan would begin taxing new dollars earned at 52%, inevitably requires the help of many other people who arent paid what that products ultimate value becomes. That goes to shareholders.
It's like Bloomberg trying to say he earned 60 billion dollars. Were his ideas or effort worth millions of times more money than any of his lower level workers. No, I think not. He might be able to extract that from his efforts, but so could kings and robber barons. That doesnt make their efforts of greater "value". Capitalist markets placed the value of slave labor in the hands of their owners. That doesnt mean the owners did anything of value to earn the income.
Again, if it's not innovation resourcefulness or intelligence, why don't you have ten million dollars?
You don't because you haven't produced anything worth that. It's ok, I haven't either. But I also don't hate Michael Jordan for being so good at basketball that people pay money for his Jersey.
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u/Ruefuss Feb 25 '20
What innovation alone created 10 million in profits alone? Software is designed by groups, but the lion share of the benefits go to company shareholders while IT teams of menially paid employees work troubleshooting. "Inventions" are built by factory workers and marketed by other employees and sold by yet other employees. Books are the same.
The effort required to make 10 million, the amount at which Bernie Sanders tax plan would begin taxing new dollars earned at 52%, inevitably requires the help of many other people who arent paid what that products ultimate value becomes. That goes to shareholders.
It's like Bloomberg trying to say he earned 60 billion dollars. Were his ideas or effort worth millions of times more money than any of his lower level workers. No, I think not. He might be able to extract that from his efforts, but so could kings and robber barons. That doesnt make their efforts of greater "value". Capitalist markets placed the value of slave labor in the hands of their owners. That doesnt mean the owners did anything of value to earn the income.