this post was submitted on 01 Nov 2024
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Work Reform

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[–] [email protected] 26 points 3 weeks ago (1 children)

Billionaires mean that workers are exploited and underpaid somewhere in the chain. Support for billionaires means support for exploitation and resource extraction from actual workers (and the government initiatives and representatives they pay for).

Their money doesn't come from nowhere, it comes from us. It comes from income taxes spent on subsidies, it comes from stock dividends paid for by mass layoffs, it comes from not having to pay a commensurate fine when hundreds of thousands of gallons of pollutants leak into the water we drink and fish in.

"Absolutely supporting billionaires" is a decidedly uninformed position.

[–] [email protected] 1 points 3 weeks ago (1 children)

In a very real sense the money doesn't even exist. It's the worth of their holdings.... Which for some reason they can often borrow against... that adds the extra 2 or 3 zeros.

[–] [email protected] 1 points 3 weeks ago

Yeah, that's why I specifically mentioned dividends. A lot of executives are also paid bonuses on their salaries based on stock performance, so they can "double dip" in these cases too. This is on top of lobbying for deregulation.

Must be great to not have to worry about money and be able to simply fire other people if it ever becomes a concern; it just further goes to show that these people don't actually add value to even their own companies.