Wealth! How much is enough?

[AdamCrock]

I would be very interested in knowing what the highest income someone has had while fully self-employed. At some point, the numbers demand at least forming a business and outsourcing accounting, and it's a very short step from there to outright employing people so you can spend less time working, or at least less time on the productivity drains.

Why do You assume it has to start big ? For all I know it can start as a painting company , clawing its way to the top , so what now should we kill it or let it be ? Hey who's economy is this : Yours or mine ?! What do You mean Target was here first ?! , my goddamn ancestors got here first noob .... etc ....

 

[Synobun]

Why do You assume it has to start big ? For all I know it can start as a painting company , clawing its way to the top , so what now should we kill it or let it be ? Hey who's economy is this : Yours or mine ?! What do You mean Target was here first ?! , my goddamn ancestors got here first noob .... etc ....

what

 

[AdamCrock]

what

up Yours ! (British style) ..... Now that I've said it I have nothing much else to say really ....

 

[Zardnaar]

Adam you drinking again chief?

 

[AdamCrock]

Adam you drinking again chief?

Rodger... dodger .... yup I .... am

edit : I mean have been ! I uh.... maybe ? Ohhhh alright ! ..... Napoleon once have said "Drink like the Poles !" etc...I hate that guy anyway ! smartass .... shorty !!!

 

[Zardnaar]

Rodger... dodger .... yup I .... am

It twas a wee bit hard to understand chief.

Up yours not the most diplomatic phrase to use my Slavic slushie brother!! Bit rough on Synsensa. I mean look at the baby yoda avatar.....

 

[AdamCrock]

It twas a wee bit hard to understand chief.

Up yours not the most diplomatic phrase to use my Slavic slushie brother!! Bit rough on Synsensa. I mean look at the baby yoda avatar.....

I love it too , You know I think it's quite cute , don't You think ? I wanna hug him .....

 

[AdamCrock]

Baby Yoda avatar - It's to cute to be true !!!

 

[Valka D'Ur]

Baby Yoda avatar - It's to cute to be true !!!

It's creepy.

 

[AdamCrock]

It's creepy.

No it not it is. Information wrong You had have.

 

[H4run]

I hate that guy anyway ! smartass .... shorty !!!

Learn to control yourselves a bit, get a grip, being drunk doesn't give you a license to be condescending and physically insulting. I expect more from you Adam, I really disappointed at your post here, he is not even disagreeing with you to begin with if you read carefully.

 

[AdamCrock]

Learn to control yourselves a bit, get a grip, being drunk doesn't give you a license to be condescending and physically insulting. I expect more from you Adam, I really disappointed at your post here, he is not even disagreeing with you to begin with if you read carefully.

Why does literally everyone "expects more" from me ? It must be a figure of speech I understand Never the less I thank You and all for best wishes and all but for my sins , the only viable death is like this : btw: My God ! Vader was the one ....

 

[H4run]

everyone "expects more" from me

Well you usually not prone to conflict and careful with words, we share so much about our personal information here, if we wanna called each-other name it's easy to smear other poster face/avatar/what-have-you with crap, and that's not excluding you and me here, but that's not an awesome things to do.

 

[AdamCrock]

Well you usually not prone to conflict and careful with words, we share so much about our personal information here, if we wanna called each-other name it's easy to smear other poster face/avatar/what-have-you with crap, and that's not excluding you and me here, but that's not an awesome things to do.

Thank You, young "padawan" I can see You are strong in the force, not only me can see this. May the force be with You. Always ....

 

[AdamCrock]

 

[Birdjaguar]

And back on topic...

Upper limits would cease a massive portion of the economy as it would desensitize creating industry. As an example Amazon would have never gotten as big as it is without a monetary incentive. I'm all for taxing the super wealthy as rates equivalent to the 1950s but to seize assets once they go over a certain net value would drive all of the innovators, inventors, and entrepreneurs to simply aim for the mark you've set as the upper limit and go no further. Lets say for instance you had set the max limit at $100 million when Amazon was simply an online book store, what would the net effect on the US GDP be if they had simply stopped with solely being a bookstore? How much wealth outside of Amazon is tied to the existence of Amazon as it is now? This is the extreme side of socialist idealism... capping net value would stifle the economy back to an early industrialized state, innovations like mass solar panels, space travel, etc all were predicated on the idea of a free market allowing people to strive for the unattainable. Setting a cap would destroy that motivation.

Why would the shareholders of Amazon have been satisfied with a $100 million company?

I've been talking personal/family wealth not company wealth or revenue. I'm not concerned about how wealthy a company gets.

But I honestly do have a hard time figuring out what would happen. Imagine that Bezos had $100 million of Amazon shares, plus a controlling interest. What happens next? Well, if he stops working on the growth model, his wealth plummets, since a lot of that $100 million valuation priced in future growth potential. So, he has to work just to keep his $100 million of liquid wealth. But then he decides to grow the company. Well, he'd have to either sell off some of his wealth or have it taxed away. So, he'd sell it off. But, no idea what he'd buy with the proceeds. Something that didn't significantly increase his paper-wealth, even if it improved his perceived quality of life. This is an example of where there could easily be actual Trickle Down benefits.

Or an option is to give it to his employees? Hmmm....

A cap would force decisions that could go lots of directions. In the past benefactors have:ed fund an institution or university; started libraries; Foundations; world projects; etc. Sure it could be taxed away, but I like the idea of an infrastructure fund that would help communities stay current and built out when needed. Now million and millions of dollars are spent by rich people to preserve and protect their growing wealth; why not refocus some of that effort on redirecting their "excess" wealth towards helping the not rich?

I would be very interested in knowing what the highest income someone has had while fully self-employed. At some point, the numbers demand at least forming a business and outsourcing accounting, and it's a very short step from there to outright employing people so you can spend less time working, or at least less time on the productivity drains.

I'm sure it is in the millions. A one owner LLC can do a deal and make a lot of money. Pablo Picasso could paint a picture and sell it for a bunch. Stephen King can write a book and make millions. Both were/are essentially self employed. Forming a business is usually for keeping one's personal finances separate from any liabilities that business activity might incur. A long time ago I worked for a company that grew to $16 million in sales, had 50 employees and was a sole proprietorship.

 

[Synobun]

I'm sure it is in the millions. A one owner LLC can do a deal and make a lot of money. Pablo Picasso could paint a picture and sell it for a bunch. Stephen King can write a book and make millions. Both were/are essentially self employed. Forming a business is usually for keeping one's personal finances separate from any liabilities that business activity might incur. A long time ago I worked for a company that grew to $16 million in sales, had 50 employees and was a sole proprietorship.

While Stephen King technically isn't an employee, he is under contract and supported by literally dozens of employees from the company he's signed with, and possibly people he's hired himself to handle PA responsibilities. I don't know that he can seriously be considered self-employed.

Authors are an interesting case study, though, with the growing market share of the indie space. I've spoken with a couple authors who crossed into the millions for sales, and none of them are one-person shows when they get to that point. There's no typical business setup, nobody's clocking in at an office, but the arrangement is no longer a "me, myself, and I" scenario. Their seven figures are only possible because of the help they hire.

 

[Birdjaguar]

While Stephen King technically isn't an employee, he is under contract and supported by literally dozens of employees from the company he's signed with, and possibly people he's hired himself to handle PA responsibilities. I don't know that he can seriously be considered self-employed.

Authors are an interesting case study, though, with the growing market share of the indie space. I've spoken with a couple authors who crossed into the millions for sales, and none of them are one-person shows when they get to that point. There's no typical business setup, nobody's clocking in at an office, but the arrangement is no longer a "me, myself, and I" scenario. Their seven figures are only possible because of the help they hire.

Lots of self employed people have contracts or contract labor. that doesn't mean they aren't self employed. Self employed is a legal term that means you aren't an employee of another company and you do things to earn money.Now if you mean someone who does work for money and has no help that is slightly different. Artists, woodworkers, consultants, writers, attorneys, even actors can easily be self employed. A definition is important here.

 

[Synobun]

Lots of self employed people have contracts or contract labor. that doesn't mean they aren't self employed. Self employed is a legal term that means you aren't an employee of another company and you do things to earn money.Now if you mean someone who does work for money and has no help that is slightly different. Artists, woodworkers, consultants, writers, attorneys, even actors can easily be self employed. A definition is important here.

I am mostly operating under the premise Adam gave, of offering self-employed people favourable rates in comparison to corporations. So people offering a service that a "company" ordinarily would. He raised it as a concern within my proposed system, but to me, someone who owns a neighbourhood hardware store will never get to the point of being affected by anti-ultra-wealth policy. For them to reach that threshold, they'd have to expand and become a corporation. There's a "limit" to how much someone in that position can earn while still being small fry.

With your example of creatives or investors, there's a bit of a different calculation involved. Their incomes are transient and uncertain, yet they are definitely capable of earning big money, especially in comparison to a mom & pop shop. But since we're talking about assets, I'm not sure it moves the needle, really. If someone "self-employed" can get to the point where they are capable of hoarding valuable assets, I don't see a compelling reason to give them preferential treatment. They're not the underdog anymore. They're the elite class.

 

[Zardnaar]

If I had enough money I would just build CFC avenue as a private sub development.

Have a pallet of booze delivered each week. Rent free living just have to move to NZ.

Strictly voluntarily, Kyriakos would have to wear a purple dress though.

Would have a statue of my cat.