> so they're already contributing an order of magnitude or more than I am
Are they _really_ doing that? I don't like how hoarding assets is seen as 1000x more contributing than someone working 8 hours a day.
Are they _really_ doing that? I don't like how hoarding assets is seen as 1000x more contributing than someone working 8 hours a day.
Yes, most are objectively paying far more taxes in terms of dollars than the average person. That is what the OP means.
> I don't like how hoarding assets is seen as 1000x more contributing than someone working 8 hours a day.
You are falsely assuming that all of these people "hoarding assets" aren't themselves working at least 8 hours a day. Additionally, if we are being real, contributing large amounts of capital to a project (i.e. investing) probably IS worth a lot more in terms of value added than 8 hours of the average person's labor.
And contributing capital is worth much, yes, but that's a chicken and egg problem: how did they amass that capital in the first place, if their 8 hours work a day isn't worth billions more than other's 8 hours of work?
Because the output of their labor (which is largely a mix of strategic decision making, operations, and planning) adds billions of dollars worth of value in a manner that is not easily reproduced. Imagine we put thousands of the world's best devs / admins / whatever under the command of the average HN reader with a budget to match. How many of them would be able to create a company that adds anything close to the value that Amazon generates for its owners and users? Probably almost none; and that is comparing the output of Bezos to high output, skilled, educated labor that itself commands a high price. Lets now imaging putting those devs and money under the command of someone who didn't finish high school and works a minimum wage job. Do you see them creating an Amazon? There is a low supply of people who can innovate and lead well, and a high demand for high quality leadership and vision, so people are compensated accordingly.
Like, for instance, by paying all Amazon workers enough, hiring enough that you don't have to schedule them so strictly that they don't have time to pee, not deliberately copying and undercutting independent products sold on Amazon...
When I have $1bn and I spend $5 million x 100 risky investments, then losing $500 million means that I, my children, grandchildren, great-grandchildren will still be richer than the top 10% in even the most developed country.
At some point the whole risk-reward shtick breaks down.