I dont think i really hold the relevant positions to anwser that. Half of this has been me playing devils advocate.

I dont think its about being justified in owning exactly? More that its hard to really say that "Yes, bill gates worked so hard, and so well, that he deserved to make those billions"
(Compared to most of us plebs making a few hundred thousand a year at most)

The CEO - Worker income disparity is also tossed around

he's the one that made the calls that ended up with him earning that money in the end

And the people willingly gave him that by buying the product,
The people who worked for him willingly accepted that wage

he did deserve to make those billions

Had to google the number, but i know Modragon's Worker-CEO ratio is 1:15 roughly.
First article i found is that in Canada the average CEO makes 200x the average Canadian income (50k/Year)

Well like i said before, capitalism doesnt need justification

exactly

The people calling for high taxes on highest earners and the like do however.

but the issue of people getting upset is them being angry they don't want to take risks themselves

people who feel that way never started their own business to prove they are as capable to become rich too

Though, i'd kind of disagree on whether he deserved it or not.

I mean deserved to become rich, sure?

But 80 billion is a mind boggling amount

be played very dirty, and destroyed other companies in the process

but in the end, he did deserve it

What's the metric for 'deserve'?

did he do criminal acts that he hasn't attoned for?

he violated certain anti-trust laws, and went to court, with the courts finding him guilty, and forcing him to give up his CEO position

after he destroyed Netscape

¯\_(ツ)_/¯

he didn't steal it,
didn't con it

all the money he earned is from people willing to work for him at their salaries,
and consumers willing to pay for his product

Ultimately thats true, or at least close enough to the truth

Which is why i said in the capitalist system it ultimately doesnt matter if you 'deserve' it, thats how the system works

exactly

Whether you contribute to peoples lives or not, so long as you managed to make the money within the letter of the law, the system accepts that.

well tahts the beauty of capitalism,

People decide themselves if they want it

nobody is forcing people to buy the best graphics cards etc for their pc

or most fancy iphones

the people decide what they want to buy

And if the market offers, people can buy it
If the market isn't there and people want it, Someone will get funding to get into that market and people will buy it

¯\_(ツ)_/¯

More favorable example for the non-capitalists is predatory lending

true

It's legal, you sign the loan, you can read the letter of what you're being offered, and accept it

But it's certainly not contributing to society to have alot of people bait people into predatory loans, and then profit off their misfortune.

thats a grey area for me

Because it sucks when people get suckered into that and become endebted

On the other hand, those people are adults, they should be responsible

there can't always be a protector/parent/nanny around

Its like Thomas Sowell said, something along the lines of
"You can't subsidise stupidity, and expect people to become more responsible"

I agree with the last bit, but i feel like this is a good example of where regulation is warranted. Stoping it entirely probably isnt worth it, but making it harder to do, and trying to inform people if they're being suckered is good.

true

I think that is a big issue that isn't factored in schools

Ultimately though, Yeah, you cant cure stupid.

you might be able to cure it, by letting people fall, and climb back up

or well, not stupid, Recklessness

Im not sure i'd call it reckless

Alot of predatory loans come in the form of payday loans and such

People cant quite make ends meet, they take the loan, they inevitably fail to pay it quite on time

yeah but i meant it in the sense of, stupid people will always be stupid,
But they can be careful and not dive stupidly into such deals

by thinking "oh this will fix my issues, *sign*"

Well they probably figure they can pay it in time

But then they fail, and the penalty is very high.

Payday loans have interest rates approaching 30%~

I think ive seen even higher.

(Per month)

yeah, hence, they should be careful and consider it, as opposed to thinking "oh i'll make it"
get a plan, set up a budget, etc

Yeah, ideally, but people rarely do things ideally.

hence, their recklessness should be punished, so they'll think about it next time

more often than not in life you don't get a 2nd chance for things, so people better be able to do it right the first time

It'd be much, much, much more preferable if the situation where they ended up doing this didnt arise.

Im not a fan of the 'you fucked up somewhat, so here, live with this crippling punishment'

Like people getting caught with weed and being sent to jail for 5 years.

Shit's stupid.

that i can agree with, lot of stupid rules should be removed
there should be a general living education in schools atleast for the basics so such incidents can be avoided
And there should be something of a regulation that prevents predatory loans

cuz many people can't Life

Some states in the US are imposing regulations that prevent, or at least minimize payday loans at least

Forget the details of how

Why government want to know peoples assets, but not debt 🤔

You can't tax debt

It's like I see you have 200k in assets you must be doing pretty well, but like you also have 120k in debt, so really not that well

Sure but if you're paying that 120k in small increments and whittling it down then they can still extract more cash from you

Ultimately the thing they don't want is for you to run out of money because then they can't pay for shit with your money

Including their wages

So they should want people to pay off debt so they dont go bankrupt you would think

Sure but that comes out of monthly expenses

Interest though

Doesn't matter as long as everyone keeps receiving cash

The inverse would actually promote collecting debt

Like if the government said "nah you owe 300k in student loans for your queer feminist butterfly studies degree, pay us less" why wouldn't people spend beyond their means?

"Oh if I put myself in debt I go down a tax bracket"

I'm not promoting any policy per se

Sure

I'm just saying its opposite would be hilarious

ye

But should debt be ignored all-together?

Basically yeah

I mean you can declare bankruptcy if it gets to be too much

How does bankruptcy effect tax revenue and economy as a whole on macroeconomics?

I'm not sure actually

Like obviously if everyone is forced to bail on their debt it fucks things up

But one or two people is probably fairly negligible

http://www.uscourts.gov/news/2017/10/18/bankruptcy-filings-decline-smallest-years

If it was only a couple wouldn't be as bad

This is also why banks are supposed to be responsible though

"supposed to be"

banks in general are responsible cuz they can't afford to lose money

Unless they get bailouts

yes thats the issue

if the state covers them they can be reckless

Too big to fail is a scam