Blue Origin rocket explosion: watch $150 million go boom

[Bofferbrauer2]

Chrkeller said:

curl-6 said:

It is a thorny issue, yes, but when you're the CEO, the buck ultimately stops with you when it comes to poor working conditions and wages.

You're absolutely right in that it's ultimately a problem with the system rather than any one individual, but when a tiny percentage of society have immense wealth while the majority struggle to get by, it's only natural people are going to get increasingly angry at the imbalance.

To put things in perspective, in 1965, a CEO made about 21 times more than a worker; nowadays a CEO makes nearly 300 times what a worker makes. So in just 60 years, the gap has ballooned by almost a factor of x15.

If this trajectory continues, we're at risk of reverting to an almost feudal society where the oligarchs at the top have absolute power and the other 98% live like serfs.

Well Bezos isn't the CEO...  hasnt been for a number of years.  

And yes, it is a problem.  Yes it needs to get fixed.

But the "tax" them argument reeks of not understanding the system.  

People really ought to educate themselves before forming such strong opinions.

The issue is how boards work and people getting paid in stock.

Again, it is about understanding the system.  Can't fix a problem unless we understand it.  I don't recall the exact quote, but Einstein said if the world was going to end in an hour he would spend 55 minutes understanding the problem and 5 minutes executing.

The amount of economic and legal inaccuracies i see on VG is mind blowing.

I need to find the video again and gonna attach it to this post once I do, but the rich are generally undertaxed out of fear they'd leave the country entirely.

The problem with that mentality is that it ignores network effects that are only available for the country they're in, as those have been built over the years and the company they're owning built around those. Also, being the foreign boss of a national company is just very bad publicity.

Long story short, raising the taxes for the rich would have very minimal effects on their risk of leaving. Sure, they'll complain super loudly that it would be stifling innovation and personal success, but considering all the ways they have to avoid taxes and their net worth, it'd be just a minor inconvenience anyway.