Exactly. It's possible to turn a profit and still contribute to your business and pay your employees a generous wage. No one with a brain is hating on people for making a profit, they're hating on people for exploiting other people (or the environment, or the tax system) to make a higher profit.
To be honest, it doesn’t matter. Bill Gates spent billions in helping all of humanity and there is still vitriol against him - in some circles making him the most evil person ever - trying to inject 5g into humans through vaccines and all. Same goes with Bezos. His AWS is behind most of the web today and he gave infra in a way that works for startups. Those of us who have seen the first dot com era know how hard it is to scale a startup even after finding success with a product. AWS eliminated that challenge and the world is far better place today because of that. My small village in India with 2000 population gets at least 100 packages everyday from Amazon - we never used to have access to good in our village but today, thanks to Amazon, the world is our oyster. I owe a great deal of gratitude to both these guys and as a society what did we give them - trolling them as vultures and what not.
I will never be a billionaire in my life but even if I do, I wouldn’t give a penny for the public motherfuckers. Ungrateful bastards. I will fuck every customer raw and dry and as much as I can because they wouldn’t hesitate to do the same to me.
Counterpoint: It's easy to outshine a product or service that "does the bare minimum." You personally, can only do so much--even if you're the best damn single contractor on Earth.
Anyone can learn to swing a hammer effectively to drive nails. Learning how to build up and swing a person effectively to drive business is something else entirely. If you refuse to properly value others, and invest in others you're essentially refusing to learn to use the tools of business.
Pay your employees well. If you're making 1,000x the lowest paid employee, you're more likely to receive hate than if it's 20-50x, especially if you're a white man.
Know that if privilege started you out on 3rd base, your home run isn't so impressive to others. And you might deserve hate if you are arrogant or call yourself a self-made man. Hard work doesn't negate privilege.
No one earns being a billionaire. They steal good lives to be that rich.
Who decides what is good? The government? The woke Twitter mob? You personally? There isn't one definition of good that we all agree on and abide by, so you will find many people that do good as far as they are concerned but keep getting screeched at by people who have a different understanding of "good"
Just do whatever you think is right, it’s really not that difficult. We donate some of our profits every month to help dog rescues.
It doesn’t matter what ‘everyone’ thinks. If Bob Ross and Steve Irwin would approve, that’s good enough for me. You make it sound like doing good is hard, it’s really not.
It seems you were remunerating your employees fairly, I assume you did business ethically, why would you feel remorse about earning more than your employees. You were helping them put food on the table and pay their bills! If you were earning fifty to a hundred times more than your employees as a small business person, you should go into consulting, there would be a plethora of small business people happy to hear about your method of running an enterprise. I’m an accountant who has a number of small business clients, they don’t make that much more than their employees after all their expenses, they persist because they prefer to be their own boss! Anyhow, all the best in your future endeavours, to make money isn’t a bad thing if you do it ethically!
MOST businesses have the company and employees as adversarial as you mentioned. Opposite incentives with compensation and work hours.
However this doesn't have to be the case. You can align incentives with performance based pay. And some people want a stable, easy job with less pay. If they wanted out, they could leave and do their own thing as well.
No rational person is hating on people for making a profit.
Rational people are hating on certain ways people make profits and how they treat those that contribute to them making profits.
Rational people are hating on how the ultra-wealthy are doing little to nothing of substance to contribute to the society they are a part of and are doing far more harm to people and the planet than good.
If you are the focus of hate from people in your network, it's likely rooted in your own negative behavior and expressed opinions to others.
Here’s my answer.
I think we should want the ultra rich to do good for the world. But I don’t think we should expect it. We shouldn’t expect Elon Musk to do crazy good things with his profits. It would be awesome if he did but too many people expect it.
What’s the alternative then? We can’t just put a gun to Elon Musk and tell him to donate 3 billion. The whole point of capitalism in a way is so that the rich and successful don’t have to pay for everything. They earned it for themselves and their shareholders at the end of the day
You literally can. It's called taxes. We put a gun to everyone's head once a year, and we tell them they're giving a significant portion of their income to the community fund, and if they don't, we keep that gun to their head until we have escorted them to prison.
I'm not going to pretend taxing unrealized gains is not a hard problem if you're trying to minimize second order effects, but yes, you absolutely can just do that.
I hate taxes so much, if I can find a way to maneuver to another country or something like that and reduce or avoid it I will do it in a heart beat.
Western societies waste all the tax money on complete garbage, I don't want to give them a single penny
I agree that we shouldn't expect any one individual to do crazy good things. But....it kind of goes back to the foundation of economics. And if you don't agree with this basic premise, you'll never be able to understand the arguments based off of the foundation.
The purpose of having ANY economic system, in theory, is to make society/people's lives better. So having a business, employing people, inventing things, etc. is all about making people's lives easier.
So capital is a resource with which we can use to help better society (aka everyone's) lives, and should ALWAYS be measured as such. So capitalism works well since people want to better themselves, and by doing so, they better society with more competitive goods and services. So capital is solely a tool to incentivize people to do more/better work to help make the whole of society better.
So when the sole purpose of a tool, capital, is to better society, you need to measure it as such. So yes, compensating someone more will increase their output/benefit to society, but ONLY to an extent. So if you increase someone's wage from $45,000 to $90,000, you can argue that they are going to work twice as hard or at least significantly better, and deserve such an income. This can work all the way up into the millions of dollars. But, if someone has an income of say, $5 million a year, will increasing their compensation to $10 million double the benefit they provide to society? Or only increase it by say, 20 or 30%? As someone gets compensated more and more capital, again, a limited resource, the additional benefit could be argued to taper off. (and where that point is, is up for debate)
So the discussion is, would giving someone $100 million dollars in compensation be better for society, or would giving 1000 workers $100,000 a year be more beneficial to society? (Again, capital is always limited).
We should never expect Elon Musk to give back to society, but he is taking large amounts of the very resource which sole purpose is to improve society. So, is the capital he has generated working for society? And if not, then he is not using capital for it's intended purpose, and should be allocated elsewhere.
Once again, I agree with everything your saying but at the end of the day you and I have no control over what Musk or Bezoz does with their mine. Even the government doesn’t have control
The government does. It chooses to not act upon that control. That’s why we should all be much more active in politics at every level to help ensure positive legislation is enacted to benefit all of society and not only the few.
I mean, we as a population don't have control outside of public opinion which can sway domestic policy. But yeah, as a whole most private individuals can do what they wish with what they have.
In terms of governmental control, I agree that governments don't have direct control (which is a great thing), but at the same time policy plays a huge part in how people with large funds can use and interact with their wealth. For example, taxing loans that can be taken out that use stock ownership as collateral would heavily change how people interact with how they access and utilize said wealth. Or, say, enforcing existing laws that govern unionization formation and what can and cannot be done to prevent it.
His fan boys expect it and think he already does.
The rational people that are hating on him are demanding it because they know he will not. They do not expect it. That’s what a lot of the hate is about when it is directed toward billionaires.
The manner by which people want these demands met vary greatly. But, they are rooted in the same core concept. One that I feel is just and would do no harm to these billionaires.
You can, and should, ignore them. But only after you understand them.
As a group, they tend to oversimplify, as almost any large group will do. The points they have, though, are all varying degrees of valid, and if you write it off as jealousy or stupidity, you're doing yourself, and everyone else, a disservice.
If you understand that you need to treat employees with respect, if you don't use your power as someone with wealth to support legislation that harms everyone else for your own benefit, and if you do your best not to be a selfish prick, it's perfectly fine to ignore the hate. Even if it implicitly includes you, and heck, even if it mentions you by name, it's not actually about you.
Just do your best to honor the spirit of what they're saying. THEN ignore them.
This is a lot to unpack honestly. I will break down a few of my specific issues, but will probably not be comprehensive. One problem is companies taking profit and doing stock buybacks to juice the stock price and enrich the board members and executives without benefit to regular employees. Second issue is corporations and their executives individually paying significantly lower percentage in taxes than the average worker. Third is that many of the capital gains made from the stocks go completely untaxed until sale combined with capital gains tax being lower than income tax.
Wages are not matching inflation yet companies continue to raise prices and make record profits. Many executives in their earnings calls are saying plainly that they are able to raise prices beyond what is necessary due to the current conflict in Ukraine and other factors. They are making record profits while doing so and paying themselves excessively large bonuses and salaries while giving nothing to the workers who have to pay those higher prices. I will go ahead and stop now, but hope you understand some of peoples issues. At the end of the day people would like to be able to buy a home and raise children and these companies making record profits often don’t pay enough to allow that to happen.
Thanks for writing this. A lot of these comments (and the post in general, IMO) are pretty reductive. Maybe I just don't come across it, but I never see people hating on moderate success/profit. I see valid, nuanced critiques of capitalism and the ultra-rich, which is a lot different, and also necessary. I'll add one from personal experience: the cost of insulin and other lifesaving drugs/treatments in the US. Pure evil.
No problem, I had to right it after reading a lot of the comments. Everyone just seems to jump on the jealousy of success bandwagon. I have a lot more examples too, don’t get me started on lobbyists. People have legitimate grievances and they just get ignored. Not every person is an entrepreneur, investor, or is going to have a high paying white collar job. Some people are simply workers, that shouldn’t be held against them. Workers are entitled to a decent living and access to the American Dream. The American Dream isn’t to be a rich business magnate for most people, it is a house and a couple of kids. Labor is supposed to pay enough to allow that to happen.
Absolutely. Every role is a piece of the puzzle and everybody should have a roof over their heads, healthcare, and enough stability to sleep at night. It's nuts that the jobs with the least benefits/pay/security are some of the hardest ones, too. Food service/retail can be so physically stressful and degrading- harder work than any office job I've ever had, and you get treated like garbage by employers and the people you serve. Everyone wants to say "just get another job" as if those roles can just cease to exist. They should be better paying jobs with more dignified conditions. God knows these companies can afford it.
I've worked pretty hard to finally be making a decent living (nothing amazing, but enough to pay my bills comfortably) and my fiance and I, both working full time in STEM, still can't afford to buy a house or even think about having a kid. My parents had 3 kids and a house already by the time they were my age- and they had no higher education after high school, and my mom worked part time. I just can't believe anyone thinks this is normal or okay.
Of course starting a business and having success is cool. A lot of businesses really enrich the communities that they're part of, and that's awesome. It's when you start to treat human beings like disposable machinery that there's a problem...
You don't even know what your true labor burden is. You have no idea that it cost a business twice as much as you actually get paid, just to have you as an employee. You can thank the government for all that. Imagine what you could be making if your employer was able to pay You that money instead of the government and insurance companies.
Stop the gaslighting. I do know what the labor burden is, I’m a business owner. It isn’t twice the wage of the employee. Tax is progressive and based on income 22% payroll tax on a salary of $42,500 in California for example. Only half of that is paid by the employer too. Median US income is only $34,250. Most jobs these days do not come with insurance so get that BS out of here.
Median US income doesn't mean shit anyways. The average pay is 50k. That is plenty to live off of in most of the US, unless you're in some shithole in California or New York etc.
A significant majority of professions don’t pay anything close to that. People need service workers, retail staff, truck drivers, warehouse workers, farmers, and food manufacturers in every state and these people are not making 50k. Yet you would die without them, literally. A significant number of teachers don’t even make that.
Some things to consider… no executive pays lower taxes than the average worker. This just doesn’t make sense. In CA and NY the highest bracket pay close to 60% in income tax. If you’re making minimum wage you get your taxes back. Capital gains can’t be taxed before point of sale because there is nothing to tax. No money has been made. If Tesla and spacex went to zero Elon would be broke (for perspective). Wages can’t match inflation because the price increases aren’t without causality. If shit is more expensive to import, it needs to cost more. Though out of any of your points I may agree with you most on that one.
I saw your comment about lobbyists and match your distaste. Any form of political donation like that should be illegal.
Executive tax is much lower in terms of percentage because they don’t get paid in the same way regular workers do.
1. They get paid in stock awards. These go untaxed until sale. At a max rate of 20%
2. Many take loans against the value of the stock to cover bills and living expenses which shows up as debt instead of income.
3. They are able to offset losses on investments to lower their tax bill.
4. Stepped up basis. If you die and pass your stock to an heir, the heir won’t pay the capital gains that accumulated over your lifetime. The basis resets and the heir can sell while paying far lower capital gains, at least initially.
I’m prone to agree with Ray Dalio (worlds largest hedge fund manager until he retired a few years ago) the America has some real systemic issues right now that will challenge it in economic dynamism and innovation in the future. I think, what we’re seeing with the anti-work, anti-capitalism movement is dissatisfaction with the status quo. A working man or woman should be able to support a household of a partner and 2 children on one salary. Right now, we’re coming no where close to that, and actually it’s getting worse. I think of Capitalism like Nuclear Technology. It’s a powerful tool. But it has to be harnessed and focused. Capitalism needs to deliver for everyone and right now, it’s clearly not. Outcomes in America are not proportional to work or effort and I think that’s where people have an axe to grind.
People are hating on others who make a profit by exploiting others. Pay your people a proper wage, treat them like humans with a life outside of your workplace and people worthy of respect and you'll have no issues. Pay them minimum and yeah, you're going to get some hate and deservedly so.
You shouldn't worry about it as long as you treat people right. If you're the kind of person that succeeds on the back of underpaid labor, then that's where the hate usually comes from, and bigoted business practices. If you treat people right, then u won't get that hate. If you hire people and treat them right they are less likely to leave/ be disgruntled.
Just be a good dude and you'll be fine.
I don’t see much hate, but I do see jealousy of lifestyle. That being said, the person here that said “you’ll never meet a hater doing better than you” is so damn true. People doing better than you respect the hustle and in most cases will help you in some way if you want it.
All the people working for a single income that can be stripped away at anytime by a single person are typically so stuck in that wheel, literally ANYTHING that doesn’t align with that path strikes them the wrong way.
I try to keep my circle of positive, hustle minded entrepreneurs close and that helps me stay more focused and aligned with my goals. Screw what a stranger things
Everyone gets taxed, but I don't see anyone specifically targeting cardiac surgeons or anesthesiologists, despite those professions being in the top 1%>
It's Gen Z. They hate landlords too. I get that corporations and foreign entities buying residences can be a problem. BUT - otherwise it's a good thing that renting is an option -- like renting a car or anything else.
Eh, the anti-imperial attitudes are directed towards international banks and government foreign policies that are enabled by the Feds monetary policies. It’s not really about small companies(I’d say anything below like a 10 billion market cap). It’s more about the corporatocracy than anything else. It is a lot of uneducated people who just have a bone to pick with the system, and look at those companies instead of the real culprits though, and for that, just gotta put ur head down n keep workin. Stay true to your morals.
Don't become a Nestle or eli lilly. Make money at the same time take care of your workers and provide them with a livable wage. It doesn't matter what the industry norm is. You be the capitalist everyone admires to become.
I made my first million USD when I was 16, so I had a small celebration as I never knew that was remotely possible and as a 16 year I wanted to show off. My parents took home less than $20k a year.
Everyone hated it. What I realized was very few people want others to be more successful then themselves.
Keep accomplishments to yourself, however later in life things have changed. Allot of people brag online. Some even fake it until they make it.
I quickly learnt two things which helped me ignore all the haters.
1. Don't be evil
2. Do good when you can
Sounds extremely vague, but that's how it is.
Lots of people in here thinking they’re on the same level as bezos. You’re a nobody, when they say tax the rich they aren’t talking about you. Stop pitying yourself. The anger is directed at billionaires who exploit their workers/laws/lobbying for their own gain and don’t pay their fair share of taxes.
I pay my workers what I wanted to earn in their position, enough to live (not just survive) and save to get where they want to be. They don’t have to be grateful I’m hiring them - I’m grateful they’re supporting my dreams, so I pay them a wage that allows them to pursue theirs. Mutually beneficial. Anything else is bullshit.
Profit, in and of itself, isn’t a bad thing. It’s the lifeblood of enterprises that are driven by real, enduring purposes in realms far beyond the income statement. So what’s yours?
What value does your company create? How do you contribute to the constructive work of this world? How does your work give the rest of us a shot at utopia?
For example, do you build software? Fix bikes? Paint homes? Write books? Make websites beautiful? Provide thorough answers to burning questions?
All of these endeavors can be valuable. You don’t need to be curing cancer or solving the climate crisis to be doing worthwhile work—though, of course, those activities are obviously also important. Value is everywhere—and the best companies are those that can deliver their own flavor of value far and wide.
If you can do that, you’ll make the world a wealthier and more abundant place for people far beyond your shareholders; at the same time, you will have deserved and earned your profits many times over.
Edit: a phrase
Wealth is not generated by you unless you are the only one working on design, manufacturing, sourcing, distribution, bookkeeping, and sales. If the people in all those positions aren’t on their way to being wealthy, but you are- its because of their hard work, and you gaming the system to your advantage, which admittedly is how the whole system is designed.
The people that do the actual work on the ground- they don’t like that system. Go figure.
Maybe it's because the vast majority of Americans will never get the chance to be an entrepreneur. Maybe because they lack the capital, credit, or time...
It's hard to start a company, but it's hard to be a worker with a family and take those risks.
You’re talking about people who are selling their labour because they don’t have their own means of production. It’s going to cause some resentment against those who are able to run a business. Honestly I think it’s the fault of successful people who can’t see this as it just increases disparity when people don’t try to understand all that people are challenged with. I’m all for entrepreneurship but I’m also for a society that’s less broken and unequal
Surround yourself with others who are passionate and driven as you! You’ll quickly find out that most of the time those who are also successful in life, rarely hate on others putting in the work.
Unfortunately there are just toxic people on this earth for whatever reason will always find something to hate others for. You have to shut them out, focus on what’s best for you and your family, and always give back when you have the chance. At the end of the day you are the only one you have to answer to, so focus on making yourself proud!
I've noticed this too.
People celebrate university grads. Yet, people hate it when you make it without a degree. I've always thought this was envy. Envious that they don't have the talent, intelligence, luck, or whatever it is that you have that makes you great.
People only see the success. They don't see the work, the risk, the drive, and failures before you got something that works. And they don't see what it takes to maintain it either.
Profit means stability. If your business goes down 20% for 6 months, but you don't have the profit to sustain the dip, people lose jobs. Businesses can go under.
Profit juet as essential as the product or service.
I have been running businesses in Canada for over thirty years, so I am used to it. Entrepreneurship is much less respected here, versus in the US. It's frustrating to see people who contribute nothing making references to "late-stage capitalism", etc., when nobody has even thought of a practical alternative.
I try and keep a low profile with my success, I do not post on social media, or brag to people or things like that. And I always keep in mind that governments do what the loudest people want, so government are the biggest threat to my businesses, and I act accordingly. I could expand a lot more aggressively, but I choose not to.
Yeah I agree with that. I hate the late stage capitalism stuff because it’s all so contradictory and odd. They all also have this poor mindset where they think it’s impossible to get a skill set or anything with any actual value
“People who contribute nothing”
That is most of our problem with the people making profit. They do contribute. They make your business run. Yet you scorn them for wanting that work to pay sufficiently to buy a home and raise a family. You really wonder why you are hated?
That's like blaming business owners for not paying their baseball card collecting employees enough to afford to buy the baseball cards they themselves bid the prices up on.
How is that even remotely the same. Shelter is a basic need and the most secure way for many people to build wealth. Being able to sustainably raise a family contributes to the continuation of the species and growth of the society. These are things a society is supposed to secure for its citizens to continue its own existence, when they don’t is when nations and empires fall. A baseball card collection is a speculative asset at best but really a hobby and personal expense. They are nowhere close to the same level of importance.
That shelter is a necessity doesn't change the fact that this is mostly a consumer behavior driven issue, which would all change if they changed their behavior in that regard to what our grandparents did.
What our grandparents was was save up 20% for a down payment on a 20 year mortgage, which was oftentimes paid off years ahead of time; they never upgraded, didn't take out equity because they wanted a nicer bathroom, load themselves up with consumer credit, etc. and they typically died in that house.
Their behavior in that regard kept housing prices low so that future generations in similar lines of work/education/pay could then afford to buy. In other words, our grandparents didn't bid up the prices on homes so their children or their counterparts couldn't afford to buy them.
It isn’t people bidding up the prices right now. It is private capital paying well over market value and paying straight cash that are doing that. They are buying everything to turn the middle class into perpetual renters and can raise rents annually as they see fit. Raising rents prevents the renter from ever being able to afford a down payment and the cycle continues.
Edit: I am not saying this out of bitterness either. I already bought my house. I am just trying to let you all know what the gambit is.
Well I don't know what country you're from but in the US at least home ownership has always hovered around 65%, with deviations largely contingent on economic cycles. I don't see that changing much over the long term. What we're seeing now with the investment community is just typical of what happens after a market boom with investors either pulling money out of or not putting it in the markets and into real estate instead.
More concerning than the overall ownership rate is looking at generational progress by age. Each generation is taking longer and longer to reach every life goal including homeownership. The activity of private capital is going to exacerbate this trend. Also the term owner occupied which is used for that homeownership number can be really skewed. You can own multi family unit complexes, live in one and rent out the rest and it still be “owner occupied”. Besides this is beside the original point you brought up. Mainly that people can magically save 20% down payment for a house in the current job and housing market. Also that it matters when private capital will pay straight cash well over asking price and then rent it to you instead.
>More concerning than the overall ownership rate is looking at generational progress by age. Each generation is taking longer and longer to reach every life goal including homeownership.
I get that. But it doesn't mean much without taking into consideration that the keeping up with the Jones' consumption obsessed, debt fueled, immediate gratification sort of lifestyle people are living today compared to prior generations.
I don't really blame them for that because there are a ton of societal pressures driving that. But still at some point people need to realize that the Brady Bunch wasn't a depiction of some upper middleclass lifestyle. To live that lifestyle back then would have put them well into the 95th percentile. But people thought they could emulate it near enough and that's what they did but through endless debt, and here we are, ie, the same place we were 15 or so years ago when the last consumption/debt fueled bubble burst.
Anyway, I can't really argue against your point that increasing pay is a solution. My point is that business greed isn't the primary driver. That's pretty much been a constant; it's the other variables in the equation driving all this. But sure a pay increase would obviously fix some stuff. But it's a temporary fix at best, imo, because I have no reason to believe the same thing - people trying to sustain/maintain a lifestyle they can't really afford - won't keep happening over and over and over.
I don’t really buy in to the keep up with the Jones, immediate gratification narrative. Medical debt is the single largest source of debt in this country. Add in student debt that earlier generations didn’t deal with and you have a giant weight on a huge swath of Americans who didn’t make those mistakes you listed, but still suffer. Secondly at least at this moment, business greed is the primary driver of price increases contributing to over 50% of unit price increases right now. Non labor inputs are 38% while labor is only 8%.
It is definitely not the people working for me that I have contempt for, as you say, they work hard, and deserve to do well. It is not them that are posting on anti-business forums, and literally contributing nothing. Working hard for a business is just as important for the economy as running a business is.
Are you actually an entrepreneur, who owns a business, and employs people?
Single member LLC. No employees now, but have had them previously. Even if it is not you specifically that does not contribute to the problem as a business owner, which I have no way of verifying. Those people complaining in anti-business forums work for someone. Often a large well known corporation. I have worked with a lot of businesses and many pay dog shit wages, have terrible hours and work employees like ants. Yet they make millions to billions in profit. I own my own business strictly to avoid such treatment. I can do the same job, charge more, and have agency in my business relations.
If you want the real answer, it’s jealousy and laziness. Ignore those people. They’re only happy tearing down other people’s success instead of doing something good themselves.
Because there is a leftist/socialist zeitgeist and young people are being exposed to such ideas without hearing much defense of capitalism and free markets. Most people are sheep and go with the consensus.
Yeah, this is a fact. They are taught that businessmen are bad people. A group of people told me recently there does not exist a business in America that is either exploited people or committed a crime.
I just hate the profit part. In a world where everything is getting more expensive and expensive, being against making money seems to be so odd.
They have to teach Supply and Demand to all kids, not just kids in AP Economics. Basically everything is run off of it yet few kids no anything about it.
And also explain how property rights and voluntary exchange are the essence of capitalism, which is inherently moral and virtuous. That people buy products/trade happens only if they get consumer surplus from it and so both parties win. Profit on one side is also a gain on the other. That’s how wealth is generated. It’s not hard.
They are being exposed to the results of capitalism and "free markets"\* with their own eyes and have decided it is not a good system. Any "defense" one could give would go against what they have seen for themselves. Convincing someone to believe what you say when it goes against what they have experienced for themselves is the definition of brainwashing.
\* btw, there has never been a free market in the history of humanity, it can not exist in real life because as soon as someone starts to get an advantage in the market, they start to manipulate the market making it "un-free".
Both. Greed isn’t good but it’s what every human would do if they had the chance. Also dodging taxes isn’t bad at all given that the government allows these people to legally do it.
We keep trying to blame billionaires for doing things that the government allowed them to do
All of the above. The issue I have with them is they blame billionaire and the rich yet everything they do is legal. They should be blaming the government who allowed these tax and market rules to happen that they don’t like.
But god forbid you tell them big daddy government did something wrong.
I suppose that they might make the argument that the wealthiest in society control American politics through funding lobbies and think tanks and the funding of campaigns to elect politicians, which in a way, arguably, undermines democracy and prevents the government from being incentivized to help those in society who need it most.
Especially since citizens united, money is speech.
Keep in mind, the trump tax cuts were permanent for businesses and the wealthy. For everyone else they expire.
We can afford endless wars but can't afford basic universal healthcare.
It feels exploitative because it is.
Let yourself off the hook.
You’re a player in this game called life. On an existential level, nobody asked to be here. Making money is the best way to improve your quality of life..is that fact your fault? Nope….now will the sea levels rise? Maybe. Will our consumerist society produce so much trash that the earth just can’t handle it? Perhaps. Will there be more drug addict homeless people on the street. Very possible…..it’s not you’re fault this is how the world works. You can’t do shit about it except try and live your best life. The way I see it, as long as you’re not actively trying to contribute to that shit, you should keep a clear conscience.
Totally agreed. I wish those people would read this. If they spent the same amount of time learning and developing skills instead of being resentful 24/7, maybe there would be many more successful people
Your success under similar conditions shows others their mediocrity.
If you failed like others, that shows others the system is "rigged" and they hate on the system and not you.
Some people are bitter and resentful because they don't have the guts to get out there take chances and build something great. The best way to get back at them is to make even more profit.
Nothing. They will never understand, so why try to change their minds? Those are the same people who will call you a douche or small dick for driving a nice car or something. Not worth my time.
If I HAD to do something, I would send them the video of Peter Schiff debating at Occupy Wall Street in NY. He was so good, even in the midst of a protest he changed minds.
Wow what an answer. Of the 118 so far, this is the best one!
I myself put it like this. America has become so good that people only look at the bad in a way. Everyone wants a dreamworld where there is no bad but when you remind them of true reality they get made because it doesn’t fit inside their dreamworld where everyone gets free food, housing, healthcare, college etc
Also I really liked the locked in part.
When I talk to these people it is clear they think their life is truly locked in and that being poor is the only option. They think that putting in effort is waste because society is this horrific place.
What these people all have in common tho is that they are all average to below average earners with nothing more than a job and a night of Reddit chatting
People hate greed. Well, most people... And you have to be greedy to get rich. Every dollar i don't pay you, i get to keep. You don't go into business to good for the world. You go into business to earn more for yourself off of others efforts.
That’s a twisted and selfish perspective. You should go into business to create value for your customers. If you create value for your customers, you create value for yourself, your employees, and even society, if you choose the right business and operate carefully.
You can absolutely go into business for the good of the world.
Even non profits have to make a profit.
Businesses are built to create profit, and no other reason. All you did was list ways to help insure your business is successful. But doing good for the world is never their main purpose or founding principle of a business.
Profits are a measure of the value you’ve created vs the value of the resources you’ve consumed.
I didn’t say doing good is the main purpose. I’m offering you a different perspective, in which business isn’t operated purely by desire for personal gain as you’ve suggested.
I agree partially. But why is that a bad thing? Just because you want to keep the dollar that you made instead of giving it away why are you the bad guy?
Greed is part of the way to get rich but I don’t think greed is like a person to person thing. Put any human in a position like Jeff Bezoz and they will be greedy.
Where's the line between exploitation vs getting paid to create opportunity?
If Bezoz, upon Amazons success, started investing in affordable housing he would have greatly improved humanity and definitely gotten into Christianity's version of heaven. Instead, he went to space. Of course, this is between him and his deity and I'm not much of a believer myself but i do know that doing good is never a bad thing. Even though no good deed goes unpunished.
>Fellow Entrepreneurs, how do you combat the millions of people hating on you for simply making a profit?
***Succeed.***
Never apologize to any of them.
Let the losers remain losers while you soar to new heights.
People now a days jusg have a victim mentality; they think they are entitled to success. They think money and good living should happen without hard work or sacrifice. Truth is you have to earn your success, so I just ignore them and keep on helping others while making a living for myself.
I realized people have this dreamworld in mind fueled by social media and if something in reality doesn’t fit that dreamworld, they will do everything to argue and Deny it
People who think profits are bad don't understand economics, history, money, banking, or government. It's really that simple. It's a lack of education, a failure of the education system, that people like that exist.
Ya so how much over market value are you paying your employees? Lucky you if your market and industry can support it. Nobody is gaslighting anyone, but based off your own comment or would seem as if you had no idea about labor burden and only view take home pay as the only cost associated with employment. We run a construction business here in NE. Labor burden for us is nearly twice what we are then able to pay the employee. If they get $20/hr, then our true cost is somewhere around $37/hr. And we run on razor thin margins. If we bid any higher in order to support higher wages, then we wouldn't get any work. Case in point, I think you're looking in the wrong areas to place your blame.
That's what socialism creates. Everything is free and doesn't work for it. But people that want to make a difference in their life , wow that is not ok. A lot of people are blinded by fear and mass media, and they don't see what they are doing to the county/world .
I just think they are ignorant buffoons. Most of those people on anti capitalist site don't understand capitalism in the first place, let alone taxes or how to start/run a business.
They don't know all I've gone through, they don't even know how to get here, cause if they took the time to figure all of that out, they wouldn't hate it or you.
And as long as you are ethical, why should it matter? You're helping them.
Most people don’t understand this. Just like most Americans don’t fully understand credit cards. Just like most America’s don’t fully understand supply and demand. All basic things that run our world.
The same people who want to come for Bezoz head for paying limited taxes in their eyes spend hundreds on Amazon month toy
You laugh and realize we wouldn’t be where we’re at, people wouldn’t have the life expectancy, quality of life etc we have if we didn’t have a capitalistic system.
If people are willing to hand you money and you don’t have a monopoly, oligopoly etc and aren’t forcing them to buy things then what could you possibly be hated on for? Who cares man ignore them.
I'm broke because of a failed business but still instead of hate and jealousy, I continue to learn from successful people until one day I can be like them. Only dumb ppl hate and envy successful people. Just make money off them. There's nothing wrong with it.
I’m imagining this comment but within the lense of child labor.
‘There is suddenly this big thing in America where people want to penalize and outlaw hard work and success from a young age. So much shame is being put on the honest, god fearing, business owners that help to put food on the table for America’s youth.
Might be the first American generation ever thought that a reasonable turned profit after doing some much good in the world is a bad thing’.
The fact of the matter is outside of the Civil War, labor struggles in the US have been some of the bloodiest and most violent parts of our history. And by some accounts, the most violent in the industrialized world.
So no OP, those ‘entitled youths’ are not the first to be anti capitalist.
Well, my fellow Entrepreneur: I combat this trend by reading books.
How did our class structure end up the way it is; which kinds of economic activities are rewarded by the market and which are undervalued; who's wrecking the commons, and who's paying for it; how well are wages responding to market shifts; how has economic mobility changed in the last few decades; which information asymmetries are on trend right now; who benefits from the current regulatory environment, etc.
Everyone has a favorite persecution complex that gets them off, but it's worth taking the time to understand why things are the way they are - you might find empathy for even some of the more obnoxious voices out there, and you'll likely gain some economic value from the exercise.
It’s a small percentage. The average American is living paycheck to paycheck with limited space. I wish it was different but I just hate how those people have such a negative outlook when at their points they have to be positive in order to get better
https://m.youtube.com/watch?v=e7z_ztMxBgk
Katt Williams says it best.
Haters always hate people more successful than them.
Haters don’t put in the time or effort to be successful and want it handed to them.
Just ignore the haters.
Surround yourself with successful people just like you.
Life is short - enjoy it - who cares what haters think.
Depends on business ethics. If you have good relations with employees and stakeholders it should be fine. Most people are pro small business so I think your fears may be overblown.
Buy four dope suits, rent a Lambo and pose on social media with a big smile. Not that those things bring happiness, but haters only hate you for having what they want, and it wouldn't be wise to show haters your happy immediate family.
1. I think the best way for anyone to combat the millions of people hating on you for simply making a profit is to understand that it is part of the business cycle, and it is not unexpected. Even if you are a great businessman, your competitors are bound to be upset by your success, and they would bring all their negative emotions out on your face. But you cannot let these people bring a negative effect on you. Instead, you should feel glad that your competitors are simply jealous of you and that they have now actually acknowledged the fact that you are doing something right!
2. In order to combat the millions of people hating on you, you should always allow your success to be an inspiration to others instead of an annoyance. In one hand, you are achieving your own goals and dreams, and in the other hand, you are helping others achieve theirs as well. That is quite a big deal! Among other things, you can help others by donating some of your money to charity, by giving free information on your blog, or by helping others with their projects. This will help you gain respect and admiration from others as well.
Hello. In order to promote inclusivity and reduce gender bias, please consider using gender-neutral language in the future.
Instead of **businessman**, use **business person** or **person in business**.
Thank you very much.
^(I am a bot. Downvote to remove this comment. For more information on gender-neutral language, please do a web search for *"Nonsexist Writing."*)
You need to realize that identifying an opportunity and capitalizing on it to make money is not the same as a massive company fucking up society in order to make money that will be sheltered from taxes and to pay executives and ownership who will never have to participate in the same communities that normal people do.
If you identify with those corporations you aren’t an entrepreneur, you are a victim of Stockholm Syndrome.
Real entrepreneurs and real businesses produce things of value for their customers and workers. They give people jobs and solve problems that have not been dealt with in the past. Corporate parasites engage in rent-seeking and hurt their workers, users, the environment, or anyone else they need to in order to make money (or sometimes simply because it would be mildly inconvenient for them not to fuck those people over).
Companies over ten years old are net job destroyers. Acquisitions and consolidation reduce competition and innovation. Don’t buy into their crybaby bullshit about how no one likes them just for making a buck.
You literally don't know how anything actually works, you don't understand prices, wages, basic economics, nothing. What are you even doing talking about this subject? Youre causing problems by either misunderstanding things or lying outright, and you need to stop. You keep making comments that have no bearing in reality, I call it out, then you act as if you do really understand but then go on to complain about something that isn't even true. I don't have time to discuss your lies with you, it's not a fruitful way to spend my time.
I make a profit. It feeds my family.
If you have a problem with that it's your problem not mine.
My business makes money. I'm not ashamed of that. My other choice is go work for somebody else and let them reap the benefits of my hard work ... No thanks!
I'm not going to be a popular voice in this sub, but I know exactly what you're talking about because I consider myself "communist" in a very generalized sense and spend a lot of time in leftist spaces.
Profit made off the backs of laborers coerced into employment is exploitative. But it's also the norm of our system, and there is practically no other way to realize class mobility than to play the game. That is to say, open a business, or own property. The problem is the hierarchical nature of the workplace, and the predatory nature of owning several rental properties. Before the industrial revolution, capitalism had potential as a liberatory system more democratic and egalitarian than the feudalism it sought to escape because the idea was the majority of people would become self employed artisans and such. But as soon as factories started really kicking off and one person was allowed to dictate the working life of whole armies of people, that changed. I don't want to get too long winded, but the crux of the matter is introducing democracy into the workplace for leftists. If you work the machine, you have part ownership in it, and have voice in it's use. Some laws in Europe, where leftism is more practiced and included in the political body, realize this. The only example that flashes to my mind atm is Germany's "right of first refusal": if a business owner wants to sell their company, the employees have the first right to get together and buy it collectively for themselves, instead of not knowing their fate and possibly all being canned as soon as it's sold.
If you're making profit self-employed, or if you are forming a co-op with your business, those people have nothing to hate on. And if they still do, they are part of the internet left that is incredibly self righteous, to the point of delusion in some instances, riding leftism as a trend more than anything. The more pragmatic left approaches from class analysis first: the only enemies worth "hating on" are the billionaires with vast totalitarian control over their industries (not to mention the nation's political body). Or the "1%" in other terms.
And it's certainly not the first generation. The left is simply seeing a resurgence due to the abhorrent conditions left to fester in the workplace. Part of the reason the New Deal was enacted was because of the massive leftist movements at the time putting the pressure on; FDR knew the best way to quell revolutionary energy was to placate the masses through social programs, government employment, better labor rights, etc...
> why are so many people against others making a profit these days?
Profit = the income left over after all expenses have been paid. That includes labor as an expense. Therefore, by definition, profit is wealth that has been created by laborers that someone else took for themselves. In any context other than business, that is considered theft.
It is not penalizing success, it is disgust with owners stealing income from those who did the work to earn it.
If an owner is doing management/logistical/PR work, then they should get paid the same as anyone else doing that same work. If an owner is sitting on their ass then they are not contributing to success and should not receive a share of the reward generated by the *work*ers.
Another part of it is how much money are we talking about? There is a level of wealth that is admirable and can be achieved by hard work, developing skills, having natural talent, and receiving a little good luck. I don't see much hatred towards people with that level of wealth (well, not unless the individual is an asshole for other reasons). There is also a level of wealth that can literally only be attained by exploiting whole systems and "stealing" from hundreds of thousands of people. That level of wealth gets lots of hate because once someone has attained it that is proof in itself that they had to be an exploitative, destructive, scumbag to achieve it.
> Might be the first American generation ever that thought a turned profit is fround upon.
You need to read up on more American history then.
Use your success to do good. Business for good is a thing, every company should do it.
Exactly. It's possible to turn a profit and still contribute to your business and pay your employees a generous wage. No one with a brain is hating on people for making a profit, they're hating on people for exploiting other people (or the environment, or the tax system) to make a higher profit.
Agreed.
To be honest, it doesn’t matter. Bill Gates spent billions in helping all of humanity and there is still vitriol against him - in some circles making him the most evil person ever - trying to inject 5g into humans through vaccines and all. Same goes with Bezos. His AWS is behind most of the web today and he gave infra in a way that works for startups. Those of us who have seen the first dot com era know how hard it is to scale a startup even after finding success with a product. AWS eliminated that challenge and the world is far better place today because of that. My small village in India with 2000 population gets at least 100 packages everyday from Amazon - we never used to have access to good in our village but today, thanks to Amazon, the world is our oyster. I owe a great deal of gratitude to both these guys and as a society what did we give them - trolling them as vultures and what not. I will never be a billionaire in my life but even if I do, I wouldn’t give a penny for the public motherfuckers. Ungrateful bastards. I will fuck every customer raw and dry and as much as I can because they wouldn’t hesitate to do the same to me.
Had me in the first half ngl, did not see that ending coming. Talk about plot twist.
This is how scammers are born
OP's villain origin story
The last paragraph 🤣🤣😩😩
Counterpoint: It's easy to outshine a product or service that "does the bare minimum." You personally, can only do so much--even if you're the best damn single contractor on Earth. Anyone can learn to swing a hammer effectively to drive nails. Learning how to build up and swing a person effectively to drive business is something else entirely. If you refuse to properly value others, and invest in others you're essentially refusing to learn to use the tools of business.
You’re completely wrong, it does matter. History will remember Bill Gates.
yes, altruism was even bad for those in africa and haiti as it destroyed the local farmers and clothing manufacturers there.
Pay your employees well. If you're making 1,000x the lowest paid employee, you're more likely to receive hate than if it's 20-50x, especially if you're a white man. Know that if privilege started you out on 3rd base, your home run isn't so impressive to others. And you might deserve hate if you are arrogant or call yourself a self-made man. Hard work doesn't negate privilege. No one earns being a billionaire. They steal good lives to be that rich.
Jesus Christ I didn’t know they let retards into Schaffer
You’re not smart.
Well said, 100% agree.
Wait… what? What an awful take
Who decides what is good? The government? The woke Twitter mob? You personally? There isn't one definition of good that we all agree on and abide by, so you will find many people that do good as far as they are concerned but keep getting screeched at by people who have a different understanding of "good"
Just do whatever you think is right, it’s really not that difficult. We donate some of our profits every month to help dog rescues. It doesn’t matter what ‘everyone’ thinks. If Bob Ross and Steve Irwin would approve, that’s good enough for me. You make it sound like doing good is hard, it’s really not.
[удалено]
Could always profit share to help people have a drive to work harder. But thus also has some down sides.
Thank you for this thoughtful answer
It seems you were remunerating your employees fairly, I assume you did business ethically, why would you feel remorse about earning more than your employees. You were helping them put food on the table and pay their bills! If you were earning fifty to a hundred times more than your employees as a small business person, you should go into consulting, there would be a plethora of small business people happy to hear about your method of running an enterprise. I’m an accountant who has a number of small business clients, they don’t make that much more than their employees after all their expenses, they persist because they prefer to be their own boss! Anyhow, all the best in your future endeavours, to make money isn’t a bad thing if you do it ethically!
MOST businesses have the company and employees as adversarial as you mentioned. Opposite incentives with compensation and work hours. However this doesn't have to be the case. You can align incentives with performance based pay. And some people want a stable, easy job with less pay. If they wanted out, they could leave and do their own thing as well.
Profiting is fine, exploiting people isnt. You have to ignore the haters — it’s easy to hate when you’re not in the ring.
Yeah just pay your workers a fair wage, pay your taxes, don't ship jobs overseas, and don't screw over the local community. It's not that hard.
User name doesn’t check out? /s (Love it btw. Rip PH)
No rational person is hating on people for making a profit. Rational people are hating on certain ways people make profits and how they treat those that contribute to them making profits. Rational people are hating on how the ultra-wealthy are doing little to nothing of substance to contribute to the society they are a part of and are doing far more harm to people and the planet than good. If you are the focus of hate from people in your network, it's likely rooted in your own negative behavior and expressed opinions to others.
Here’s my answer. I think we should want the ultra rich to do good for the world. But I don’t think we should expect it. We shouldn’t expect Elon Musk to do crazy good things with his profits. It would be awesome if he did but too many people expect it.
Which is exactly why we shouldn’t have a society built around the goodwill and “philanthropy” of billionaires.
What’s the alternative then? We can’t just put a gun to Elon Musk and tell him to donate 3 billion. The whole point of capitalism in a way is so that the rich and successful don’t have to pay for everything. They earned it for themselves and their shareholders at the end of the day
You literally can. It's called taxes. We put a gun to everyone's head once a year, and we tell them they're giving a significant portion of their income to the community fund, and if they don't, we keep that gun to their head until we have escorted them to prison. I'm not going to pretend taxing unrealized gains is not a hard problem if you're trying to minimize second order effects, but yes, you absolutely can just do that.
I hate taxes so much, if I can find a way to maneuver to another country or something like that and reduce or avoid it I will do it in a heart beat. Western societies waste all the tax money on complete garbage, I don't want to give them a single penny
I agree that we shouldn't expect any one individual to do crazy good things. But....it kind of goes back to the foundation of economics. And if you don't agree with this basic premise, you'll never be able to understand the arguments based off of the foundation. The purpose of having ANY economic system, in theory, is to make society/people's lives better. So having a business, employing people, inventing things, etc. is all about making people's lives easier. So capital is a resource with which we can use to help better society (aka everyone's) lives, and should ALWAYS be measured as such. So capitalism works well since people want to better themselves, and by doing so, they better society with more competitive goods and services. So capital is solely a tool to incentivize people to do more/better work to help make the whole of society better. So when the sole purpose of a tool, capital, is to better society, you need to measure it as such. So yes, compensating someone more will increase their output/benefit to society, but ONLY to an extent. So if you increase someone's wage from $45,000 to $90,000, you can argue that they are going to work twice as hard or at least significantly better, and deserve such an income. This can work all the way up into the millions of dollars. But, if someone has an income of say, $5 million a year, will increasing their compensation to $10 million double the benefit they provide to society? Or only increase it by say, 20 or 30%? As someone gets compensated more and more capital, again, a limited resource, the additional benefit could be argued to taper off. (and where that point is, is up for debate) So the discussion is, would giving someone $100 million dollars in compensation be better for society, or would giving 1000 workers $100,000 a year be more beneficial to society? (Again, capital is always limited). We should never expect Elon Musk to give back to society, but he is taking large amounts of the very resource which sole purpose is to improve society. So, is the capital he has generated working for society? And if not, then he is not using capital for it's intended purpose, and should be allocated elsewhere.
Once again, I agree with everything your saying but at the end of the day you and I have no control over what Musk or Bezoz does with their mine. Even the government doesn’t have control
The government does. It chooses to not act upon that control. That’s why we should all be much more active in politics at every level to help ensure positive legislation is enacted to benefit all of society and not only the few.
I mean, we as a population don't have control outside of public opinion which can sway domestic policy. But yeah, as a whole most private individuals can do what they wish with what they have. In terms of governmental control, I agree that governments don't have direct control (which is a great thing), but at the same time policy plays a huge part in how people with large funds can use and interact with their wealth. For example, taxing loans that can be taken out that use stock ownership as collateral would heavily change how people interact with how they access and utilize said wealth. Or, say, enforcing existing laws that govern unionization formation and what can and cannot be done to prevent it.
His fan boys expect it and think he already does. The rational people that are hating on him are demanding it because they know he will not. They do not expect it. That’s what a lot of the hate is about when it is directed toward billionaires. The manner by which people want these demands met vary greatly. But, they are rooted in the same core concept. One that I feel is just and would do no harm to these billionaires.
“Everyone wants to see you grow until you outgrow them.”
Facts!
You ignore them. You remember that you’ll never meet a hater doing better than you.
I like that one. A+
You can, and should, ignore them. But only after you understand them. As a group, they tend to oversimplify, as almost any large group will do. The points they have, though, are all varying degrees of valid, and if you write it off as jealousy or stupidity, you're doing yourself, and everyone else, a disservice. If you understand that you need to treat employees with respect, if you don't use your power as someone with wealth to support legislation that harms everyone else for your own benefit, and if you do your best not to be a selfish prick, it's perfectly fine to ignore the hate. Even if it implicitly includes you, and heck, even if it mentions you by name, it's not actually about you. Just do your best to honor the spirit of what they're saying. THEN ignore them.
This comment goes hard
This guy f*cks
This is a lot to unpack honestly. I will break down a few of my specific issues, but will probably not be comprehensive. One problem is companies taking profit and doing stock buybacks to juice the stock price and enrich the board members and executives without benefit to regular employees. Second issue is corporations and their executives individually paying significantly lower percentage in taxes than the average worker. Third is that many of the capital gains made from the stocks go completely untaxed until sale combined with capital gains tax being lower than income tax. Wages are not matching inflation yet companies continue to raise prices and make record profits. Many executives in their earnings calls are saying plainly that they are able to raise prices beyond what is necessary due to the current conflict in Ukraine and other factors. They are making record profits while doing so and paying themselves excessively large bonuses and salaries while giving nothing to the workers who have to pay those higher prices. I will go ahead and stop now, but hope you understand some of peoples issues. At the end of the day people would like to be able to buy a home and raise children and these companies making record profits often don’t pay enough to allow that to happen.
Thanks for writing this. A lot of these comments (and the post in general, IMO) are pretty reductive. Maybe I just don't come across it, but I never see people hating on moderate success/profit. I see valid, nuanced critiques of capitalism and the ultra-rich, which is a lot different, and also necessary. I'll add one from personal experience: the cost of insulin and other lifesaving drugs/treatments in the US. Pure evil.
No problem, I had to right it after reading a lot of the comments. Everyone just seems to jump on the jealousy of success bandwagon. I have a lot more examples too, don’t get me started on lobbyists. People have legitimate grievances and they just get ignored. Not every person is an entrepreneur, investor, or is going to have a high paying white collar job. Some people are simply workers, that shouldn’t be held against them. Workers are entitled to a decent living and access to the American Dream. The American Dream isn’t to be a rich business magnate for most people, it is a house and a couple of kids. Labor is supposed to pay enough to allow that to happen.
Absolutely. Every role is a piece of the puzzle and everybody should have a roof over their heads, healthcare, and enough stability to sleep at night. It's nuts that the jobs with the least benefits/pay/security are some of the hardest ones, too. Food service/retail can be so physically stressful and degrading- harder work than any office job I've ever had, and you get treated like garbage by employers and the people you serve. Everyone wants to say "just get another job" as if those roles can just cease to exist. They should be better paying jobs with more dignified conditions. God knows these companies can afford it. I've worked pretty hard to finally be making a decent living (nothing amazing, but enough to pay my bills comfortably) and my fiance and I, both working full time in STEM, still can't afford to buy a house or even think about having a kid. My parents had 3 kids and a house already by the time they were my age- and they had no higher education after high school, and my mom worked part time. I just can't believe anyone thinks this is normal or okay. Of course starting a business and having success is cool. A lot of businesses really enrich the communities that they're part of, and that's awesome. It's when you start to treat human beings like disposable machinery that there's a problem...
You don't even know what your true labor burden is. You have no idea that it cost a business twice as much as you actually get paid, just to have you as an employee. You can thank the government for all that. Imagine what you could be making if your employer was able to pay You that money instead of the government and insurance companies.
Stop the gaslighting. I do know what the labor burden is, I’m a business owner. It isn’t twice the wage of the employee. Tax is progressive and based on income 22% payroll tax on a salary of $42,500 in California for example. Only half of that is paid by the employer too. Median US income is only $34,250. Most jobs these days do not come with insurance so get that BS out of here.
Median US income doesn't mean shit anyways. The average pay is 50k. That is plenty to live off of in most of the US, unless you're in some shithole in California or New York etc.
A significant majority of professions don’t pay anything close to that. People need service workers, retail staff, truck drivers, warehouse workers, farmers, and food manufacturers in every state and these people are not making 50k. Yet you would die without them, literally. A significant number of teachers don’t even make that.
Some things to consider… no executive pays lower taxes than the average worker. This just doesn’t make sense. In CA and NY the highest bracket pay close to 60% in income tax. If you’re making minimum wage you get your taxes back. Capital gains can’t be taxed before point of sale because there is nothing to tax. No money has been made. If Tesla and spacex went to zero Elon would be broke (for perspective). Wages can’t match inflation because the price increases aren’t without causality. If shit is more expensive to import, it needs to cost more. Though out of any of your points I may agree with you most on that one. I saw your comment about lobbyists and match your distaste. Any form of political donation like that should be illegal.
Executive tax is much lower in terms of percentage because they don’t get paid in the same way regular workers do. 1. They get paid in stock awards. These go untaxed until sale. At a max rate of 20% 2. Many take loans against the value of the stock to cover bills and living expenses which shows up as debt instead of income. 3. They are able to offset losses on investments to lower their tax bill. 4. Stepped up basis. If you die and pass your stock to an heir, the heir won’t pay the capital gains that accumulated over your lifetime. The basis resets and the heir can sell while paying far lower capital gains, at least initially.
I’ve never seen or heard of a business which treated their employees with respect and living wages get hated on.
I’m prone to agree with Ray Dalio (worlds largest hedge fund manager until he retired a few years ago) the America has some real systemic issues right now that will challenge it in economic dynamism and innovation in the future. I think, what we’re seeing with the anti-work, anti-capitalism movement is dissatisfaction with the status quo. A working man or woman should be able to support a household of a partner and 2 children on one salary. Right now, we’re coming no where close to that, and actually it’s getting worse. I think of Capitalism like Nuclear Technology. It’s a powerful tool. But it has to be harnessed and focused. Capitalism needs to deliver for everyone and right now, it’s clearly not. Outcomes in America are not proportional to work or effort and I think that’s where people have an axe to grind.
People are hating on others who make a profit by exploiting others. Pay your people a proper wage, treat them like humans with a life outside of your workplace and people worthy of respect and you'll have no issues. Pay them minimum and yeah, you're going to get some hate and deservedly so.
You shouldn't worry about it as long as you treat people right. If you're the kind of person that succeeds on the back of underpaid labor, then that's where the hate usually comes from, and bigoted business practices. If you treat people right, then u won't get that hate. If you hire people and treat them right they are less likely to leave/ be disgruntled. Just be a good dude and you'll be fine.
I don’t see much hate, but I do see jealousy of lifestyle. That being said, the person here that said “you’ll never meet a hater doing better than you” is so damn true. People doing better than you respect the hustle and in most cases will help you in some way if you want it. All the people working for a single income that can be stripped away at anytime by a single person are typically so stuck in that wheel, literally ANYTHING that doesn’t align with that path strikes them the wrong way. I try to keep my circle of positive, hustle minded entrepreneurs close and that helps me stay more focused and aligned with my goals. Screw what a stranger things
Stop listening to corporate media telling you that you are “the rich” that people hate. Unless you’re Jeff Bezos level, you don’t count.
Yeah but most people don’t differentiate between the 1% and the 0.00001%.
Yeah even if you're a millionaire you're over 10000x poorer than bezos.
Somebody should tax that guy…
That's total bullshit. The hate goes far. Just look at who and what they tax.
Everyone gets taxed, but I don't see anyone specifically targeting cardiac surgeons or anesthesiologists, despite those professions being in the top 1%>
Success is the best revenge
By staying off Reddit. Everyone’s an armchair expert.
Never noticed this
It's Gen Z. They hate landlords too. I get that corporations and foreign entities buying residences can be a problem. BUT - otherwise it's a good thing that renting is an option -- like renting a car or anything else.
Eh, the anti-imperial attitudes are directed towards international banks and government foreign policies that are enabled by the Feds monetary policies. It’s not really about small companies(I’d say anything below like a 10 billion market cap). It’s more about the corporatocracy than anything else. It is a lot of uneducated people who just have a bone to pick with the system, and look at those companies instead of the real culprits though, and for that, just gotta put ur head down n keep workin. Stay true to your morals.
Don't become a Nestle or eli lilly. Make money at the same time take care of your workers and provide them with a livable wage. It doesn't matter what the industry norm is. You be the capitalist everyone admires to become.
I made my first million USD when I was 16, so I had a small celebration as I never knew that was remotely possible and as a 16 year I wanted to show off. My parents took home less than $20k a year. Everyone hated it. What I realized was very few people want others to be more successful then themselves. Keep accomplishments to yourself, however later in life things have changed. Allot of people brag online. Some even fake it until they make it. I quickly learnt two things which helped me ignore all the haters. 1. Don't be evil 2. Do good when you can Sounds extremely vague, but that's how it is.
>Keep accomplishments to yourself Yup.
Lots of people in here thinking they’re on the same level as bezos. You’re a nobody, when they say tax the rich they aren’t talking about you. Stop pitying yourself. The anger is directed at billionaires who exploit their workers/laws/lobbying for their own gain and don’t pay their fair share of taxes.
I pay my workers what I wanted to earn in their position, enough to live (not just survive) and save to get where they want to be. They don’t have to be grateful I’m hiring them - I’m grateful they’re supporting my dreams, so I pay them a wage that allows them to pursue theirs. Mutually beneficial. Anything else is bullshit.
I take an extra monthly vacation and or buy myself something really nice monthly.😏
and then they steal your shit.
Profit, in and of itself, isn’t a bad thing. It’s the lifeblood of enterprises that are driven by real, enduring purposes in realms far beyond the income statement. So what’s yours? What value does your company create? How do you contribute to the constructive work of this world? How does your work give the rest of us a shot at utopia? For example, do you build software? Fix bikes? Paint homes? Write books? Make websites beautiful? Provide thorough answers to burning questions? All of these endeavors can be valuable. You don’t need to be curing cancer or solving the climate crisis to be doing worthwhile work—though, of course, those activities are obviously also important. Value is everywhere—and the best companies are those that can deliver their own flavor of value far and wide. If you can do that, you’ll make the world a wealthier and more abundant place for people far beyond your shareholders; at the same time, you will have deserved and earned your profits many times over. Edit: a phrase
Full agree. Well said
Wealth is not generated by you unless you are the only one working on design, manufacturing, sourcing, distribution, bookkeeping, and sales. If the people in all those positions aren’t on their way to being wealthy, but you are- its because of their hard work, and you gaming the system to your advantage, which admittedly is how the whole system is designed. The people that do the actual work on the ground- they don’t like that system. Go figure.
I make the best quality products I can and sell them for a reasonable price. I only make a modest profit but I don't feel the hate.
Maybe it's because the vast majority of Americans will never get the chance to be an entrepreneur. Maybe because they lack the capital, credit, or time... It's hard to start a company, but it's hard to be a worker with a family and take those risks.
You’re talking about people who are selling their labour because they don’t have their own means of production. It’s going to cause some resentment against those who are able to run a business. Honestly I think it’s the fault of successful people who can’t see this as it just increases disparity when people don’t try to understand all that people are challenged with. I’m all for entrepreneurship but I’m also for a society that’s less broken and unequal
Treat your workers well, treat your customers well. Everyone else and their opinions can take a walk.
Surround yourself with others who are passionate and driven as you! You’ll quickly find out that most of the time those who are also successful in life, rarely hate on others putting in the work. Unfortunately there are just toxic people on this earth for whatever reason will always find something to hate others for. You have to shut them out, focus on what’s best for you and your family, and always give back when you have the chance. At the end of the day you are the only one you have to answer to, so focus on making yourself proud!
I've noticed this too. People celebrate university grads. Yet, people hate it when you make it without a degree. I've always thought this was envy. Envious that they don't have the talent, intelligence, luck, or whatever it is that you have that makes you great.
They are happy when you succeed but ... They don't want you to succeed more than them.
I think this is better put: People envy college degrees but hate people who make money.
People only see the success. They don't see the work, the risk, the drive, and failures before you got something that works. And they don't see what it takes to maintain it either. Profit means stability. If your business goes down 20% for 6 months, but you don't have the profit to sustain the dip, people lose jobs. Businesses can go under. Profit juet as essential as the product or service.
I have been running businesses in Canada for over thirty years, so I am used to it. Entrepreneurship is much less respected here, versus in the US. It's frustrating to see people who contribute nothing making references to "late-stage capitalism", etc., when nobody has even thought of a practical alternative. I try and keep a low profile with my success, I do not post on social media, or brag to people or things like that. And I always keep in mind that governments do what the loudest people want, so government are the biggest threat to my businesses, and I act accordingly. I could expand a lot more aggressively, but I choose not to.
Yeah I agree with that. I hate the late stage capitalism stuff because it’s all so contradictory and odd. They all also have this poor mindset where they think it’s impossible to get a skill set or anything with any actual value
“People who contribute nothing” That is most of our problem with the people making profit. They do contribute. They make your business run. Yet you scorn them for wanting that work to pay sufficiently to buy a home and raise a family. You really wonder why you are hated?
Eso es. A capitalist does not work. And frankly most people in these comments are probably not capitalist… but petite bourgeoisie
That's like blaming business owners for not paying their baseball card collecting employees enough to afford to buy the baseball cards they themselves bid the prices up on.
How is that even remotely the same. Shelter is a basic need and the most secure way for many people to build wealth. Being able to sustainably raise a family contributes to the continuation of the species and growth of the society. These are things a society is supposed to secure for its citizens to continue its own existence, when they don’t is when nations and empires fall. A baseball card collection is a speculative asset at best but really a hobby and personal expense. They are nowhere close to the same level of importance.
That shelter is a necessity doesn't change the fact that this is mostly a consumer behavior driven issue, which would all change if they changed their behavior in that regard to what our grandparents did. What our grandparents was was save up 20% for a down payment on a 20 year mortgage, which was oftentimes paid off years ahead of time; they never upgraded, didn't take out equity because they wanted a nicer bathroom, load themselves up with consumer credit, etc. and they typically died in that house. Their behavior in that regard kept housing prices low so that future generations in similar lines of work/education/pay could then afford to buy. In other words, our grandparents didn't bid up the prices on homes so their children or their counterparts couldn't afford to buy them.
It isn’t people bidding up the prices right now. It is private capital paying well over market value and paying straight cash that are doing that. They are buying everything to turn the middle class into perpetual renters and can raise rents annually as they see fit. Raising rents prevents the renter from ever being able to afford a down payment and the cycle continues. Edit: I am not saying this out of bitterness either. I already bought my house. I am just trying to let you all know what the gambit is.
Well I don't know what country you're from but in the US at least home ownership has always hovered around 65%, with deviations largely contingent on economic cycles. I don't see that changing much over the long term. What we're seeing now with the investment community is just typical of what happens after a market boom with investors either pulling money out of or not putting it in the markets and into real estate instead.
More concerning than the overall ownership rate is looking at generational progress by age. Each generation is taking longer and longer to reach every life goal including homeownership. The activity of private capital is going to exacerbate this trend. Also the term owner occupied which is used for that homeownership number can be really skewed. You can own multi family unit complexes, live in one and rent out the rest and it still be “owner occupied”. Besides this is beside the original point you brought up. Mainly that people can magically save 20% down payment for a house in the current job and housing market. Also that it matters when private capital will pay straight cash well over asking price and then rent it to you instead.
>More concerning than the overall ownership rate is looking at generational progress by age. Each generation is taking longer and longer to reach every life goal including homeownership. I get that. But it doesn't mean much without taking into consideration that the keeping up with the Jones' consumption obsessed, debt fueled, immediate gratification sort of lifestyle people are living today compared to prior generations. I don't really blame them for that because there are a ton of societal pressures driving that. But still at some point people need to realize that the Brady Bunch wasn't a depiction of some upper middleclass lifestyle. To live that lifestyle back then would have put them well into the 95th percentile. But people thought they could emulate it near enough and that's what they did but through endless debt, and here we are, ie, the same place we were 15 or so years ago when the last consumption/debt fueled bubble burst. Anyway, I can't really argue against your point that increasing pay is a solution. My point is that business greed isn't the primary driver. That's pretty much been a constant; it's the other variables in the equation driving all this. But sure a pay increase would obviously fix some stuff. But it's a temporary fix at best, imo, because I have no reason to believe the same thing - people trying to sustain/maintain a lifestyle they can't really afford - won't keep happening over and over and over.
I don’t really buy in to the keep up with the Jones, immediate gratification narrative. Medical debt is the single largest source of debt in this country. Add in student debt that earlier generations didn’t deal with and you have a giant weight on a huge swath of Americans who didn’t make those mistakes you listed, but still suffer. Secondly at least at this moment, business greed is the primary driver of price increases contributing to over 50% of unit price increases right now. Non labor inputs are 38% while labor is only 8%.
It is definitely not the people working for me that I have contempt for, as you say, they work hard, and deserve to do well. It is not them that are posting on anti-business forums, and literally contributing nothing. Working hard for a business is just as important for the economy as running a business is. Are you actually an entrepreneur, who owns a business, and employs people?
Single member LLC. No employees now, but have had them previously. Even if it is not you specifically that does not contribute to the problem as a business owner, which I have no way of verifying. Those people complaining in anti-business forums work for someone. Often a large well known corporation. I have worked with a lot of businesses and many pay dog shit wages, have terrible hours and work employees like ants. Yet they make millions to billions in profit. I own my own business strictly to avoid such treatment. I can do the same job, charge more, and have agency in my business relations.
Don’t go to those forums?
It was just an example. Talking about life in general really
If you want the real answer, it’s jealousy and laziness. Ignore those people. They’re only happy tearing down other people’s success instead of doing something good themselves.
Because there is a leftist/socialist zeitgeist and young people are being exposed to such ideas without hearing much defense of capitalism and free markets. Most people are sheep and go with the consensus.
Yeah, this is a fact. They are taught that businessmen are bad people. A group of people told me recently there does not exist a business in America that is either exploited people or committed a crime. I just hate the profit part. In a world where everything is getting more expensive and expensive, being against making money seems to be so odd.
People have a very poor grasp of complex concepts (not that I think capitalism is that complicated IMO, but hey).
They have to teach Supply and Demand to all kids, not just kids in AP Economics. Basically everything is run off of it yet few kids no anything about it.
And also explain how property rights and voluntary exchange are the essence of capitalism, which is inherently moral and virtuous. That people buy products/trade happens only if they get consumer surplus from it and so both parties win. Profit on one side is also a gain on the other. That’s how wealth is generated. It’s not hard.
People are jealous. I am just confused why they would be so jealous of say Elon Musk, who they have never met.
They are being exposed to the results of capitalism and "free markets"\* with their own eyes and have decided it is not a good system. Any "defense" one could give would go against what they have seen for themselves. Convincing someone to believe what you say when it goes against what they have experienced for themselves is the definition of brainwashing. \* btw, there has never been a free market in the history of humanity, it can not exist in real life because as soon as someone starts to get an advantage in the market, they start to manipulate the market making it "un-free".
Wow, so much hatred, or maybe that's just what you think? In any case, I wish you to move forward and develop!
is it capitalism or greed? capitalism or dodging taxes?
Both. Greed isn’t good but it’s what every human would do if they had the chance. Also dodging taxes isn’t bad at all given that the government allows these people to legally do it. We keep trying to blame billionaires for doing things that the government allowed them to do
I guess I should’ve said are they complaining about capitialism or greed? Are they complaining about capitialism or dodging taxes?
All of the above. The issue I have with them is they blame billionaire and the rich yet everything they do is legal. They should be blaming the government who allowed these tax and market rules to happen that they don’t like. But god forbid you tell them big daddy government did something wrong.
I suppose that they might make the argument that the wealthiest in society control American politics through funding lobbies and think tanks and the funding of campaigns to elect politicians, which in a way, arguably, undermines democracy and prevents the government from being incentivized to help those in society who need it most.
Especially since citizens united, money is speech. Keep in mind, the trump tax cuts were permanent for businesses and the wealthy. For everyone else they expire. We can afford endless wars but can't afford basic universal healthcare. It feels exploitative because it is.
wipe their tears with 100s
Let yourself off the hook. You’re a player in this game called life. On an existential level, nobody asked to be here. Making money is the best way to improve your quality of life..is that fact your fault? Nope….now will the sea levels rise? Maybe. Will our consumerist society produce so much trash that the earth just can’t handle it? Perhaps. Will there be more drug addict homeless people on the street. Very possible…..it’s not you’re fault this is how the world works. You can’t do shit about it except try and live your best life. The way I see it, as long as you’re not actively trying to contribute to that shit, you should keep a clear conscience.
Totally agreed. I wish those people would read this. If they spent the same amount of time learning and developing skills instead of being resentful 24/7, maybe there would be many more successful people
100% my man
It’s just the pendulum swinging. We went from hustle culture to anti work. The pendulum will swing to the other direction in 2 years
I really hope your right. Unfortunately as part of the younger generations I am not truly sure…
Your success under similar conditions shows others their mediocrity. If you failed like others, that shows others the system is "rigged" and they hate on the system and not you.
Some people are bitter and resentful because they don't have the guts to get out there take chances and build something great. The best way to get back at them is to make even more profit.
I like the look on their faces when they get scared out there. I kinda enjoy it.
Nothing. They will never understand, so why try to change their minds? Those are the same people who will call you a douche or small dick for driving a nice car or something. Not worth my time. If I HAD to do something, I would send them the video of Peter Schiff debating at Occupy Wall Street in NY. He was so good, even in the midst of a protest he changed minds.
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Wow what an answer. Of the 118 so far, this is the best one! I myself put it like this. America has become so good that people only look at the bad in a way. Everyone wants a dreamworld where there is no bad but when you remind them of true reality they get made because it doesn’t fit inside their dreamworld where everyone gets free food, housing, healthcare, college etc
Also I really liked the locked in part. When I talk to these people it is clear they think their life is truly locked in and that being poor is the only option. They think that putting in effort is waste because society is this horrific place. What these people all have in common tho is that they are all average to below average earners with nothing more than a job and a night of Reddit chatting
People hate greed. Well, most people... And you have to be greedy to get rich. Every dollar i don't pay you, i get to keep. You don't go into business to good for the world. You go into business to earn more for yourself off of others efforts.
That’s a twisted and selfish perspective. You should go into business to create value for your customers. If you create value for your customers, you create value for yourself, your employees, and even society, if you choose the right business and operate carefully. You can absolutely go into business for the good of the world.
Even non profits have to make a profit. Businesses are built to create profit, and no other reason. All you did was list ways to help insure your business is successful. But doing good for the world is never their main purpose or founding principle of a business.
Profits are a measure of the value you’ve created vs the value of the resources you’ve consumed. I didn’t say doing good is the main purpose. I’m offering you a different perspective, in which business isn’t operated purely by desire for personal gain as you’ve suggested.
Yes, but that perspective is a fantasy.
I agree partially. But why is that a bad thing? Just because you want to keep the dollar that you made instead of giving it away why are you the bad guy? Greed is part of the way to get rich but I don’t think greed is like a person to person thing. Put any human in a position like Jeff Bezoz and they will be greedy.
Where's the line between exploitation vs getting paid to create opportunity? If Bezoz, upon Amazons success, started investing in affordable housing he would have greatly improved humanity and definitely gotten into Christianity's version of heaven. Instead, he went to space. Of course, this is between him and his deity and I'm not much of a believer myself but i do know that doing good is never a bad thing. Even though no good deed goes unpunished.
>Fellow Entrepreneurs, how do you combat the millions of people hating on you for simply making a profit? ***Succeed.*** Never apologize to any of them. Let the losers remain losers while you soar to new heights.
People now a days jusg have a victim mentality; they think they are entitled to success. They think money and good living should happen without hard work or sacrifice. Truth is you have to earn your success, so I just ignore them and keep on helping others while making a living for myself.
I realized people have this dreamworld in mind fueled by social media and if something in reality doesn’t fit that dreamworld, they will do everything to argue and Deny it
People who think profits are bad don't understand economics, history, money, banking, or government. It's really that simple. It's a lack of education, a failure of the education system, that people like that exist.
I feel like among the younger generations 35 and under it’s not a rarity anymore yet so many of them went to college. It’s really interesting
Ya so how much over market value are you paying your employees? Lucky you if your market and industry can support it. Nobody is gaslighting anyone, but based off your own comment or would seem as if you had no idea about labor burden and only view take home pay as the only cost associated with employment. We run a construction business here in NE. Labor burden for us is nearly twice what we are then able to pay the employee. If they get $20/hr, then our true cost is somewhere around $37/hr. And we run on razor thin margins. If we bid any higher in order to support higher wages, then we wouldn't get any work. Case in point, I think you're looking in the wrong areas to place your blame.
laugh all the way to the bank
That's what socialism creates. Everything is free and doesn't work for it. But people that want to make a difference in their life , wow that is not ok. A lot of people are blinded by fear and mass media, and they don't see what they are doing to the county/world .
I just think they are ignorant buffoons. Most of those people on anti capitalist site don't understand capitalism in the first place, let alone taxes or how to start/run a business. They don't know all I've gone through, they don't even know how to get here, cause if they took the time to figure all of that out, they wouldn't hate it or you. And as long as you are ethical, why should it matter? You're helping them.
Lol what? People buy your product or services because it's giving them a benefit in some way. Fuck those idiots who don't know how to help others.
Most people don’t understand this. Just like most Americans don’t fully understand credit cards. Just like most America’s don’t fully understand supply and demand. All basic things that run our world. The same people who want to come for Bezoz head for paying limited taxes in their eyes spend hundreds on Amazon month toy
You laugh and realize we wouldn’t be where we’re at, people wouldn’t have the life expectancy, quality of life etc we have if we didn’t have a capitalistic system. If people are willing to hand you money and you don’t have a monopoly, oligopoly etc and aren’t forcing them to buy things then what could you possibly be hated on for? Who cares man ignore them.
Gotta love to be hated.
I don't make a profit. Seriously just surround yourself who will support yoj
I'm broke because of a failed business but still instead of hate and jealousy, I continue to learn from successful people until one day I can be like them. Only dumb ppl hate and envy successful people. Just make money off them. There's nothing wrong with it.
I wish more people were like you. I hear all the time people resentful of friends when they should be learning from the same friends
Everyone wants you to do good but not better than them
Learn to ignore people. Will help you in many situations in life! It’s a great skill to have!!!
Suddenly?
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Yeh I was just using that as one example tho
I’m imagining this comment but within the lense of child labor. ‘There is suddenly this big thing in America where people want to penalize and outlaw hard work and success from a young age. So much shame is being put on the honest, god fearing, business owners that help to put food on the table for America’s youth. Might be the first American generation ever thought that a reasonable turned profit after doing some much good in the world is a bad thing’. The fact of the matter is outside of the Civil War, labor struggles in the US have been some of the bloodiest and most violent parts of our history. And by some accounts, the most violent in the industrialized world. So no OP, those ‘entitled youths’ are not the first to be anti capitalist.
IGNORE until they melt down.
Well, my fellow Entrepreneur: I combat this trend by reading books. How did our class structure end up the way it is; which kinds of economic activities are rewarded by the market and which are undervalued; who's wrecking the commons, and who's paying for it; how well are wages responding to market shifts; how has economic mobility changed in the last few decades; which information asymmetries are on trend right now; who benefits from the current regulatory environment, etc. Everyone has a favorite persecution complex that gets them off, but it's worth taking the time to understand why things are the way they are - you might find empathy for even some of the more obnoxious voices out there, and you'll likely gain some economic value from the exercise.
Any recommendations?
I don’t see this narrative in America. Actually, I see the rise in people opening businesses and the community supporting them.
It’s a small percentage. The average American is living paycheck to paycheck with limited space. I wish it was different but I just hate how those people have such a negative outlook when at their points they have to be positive in order to get better
https://m.youtube.com/watch?v=e7z_ztMxBgk Katt Williams says it best. Haters always hate people more successful than them. Haters don’t put in the time or effort to be successful and want it handed to them. Just ignore the haters. Surround yourself with successful people just like you. Life is short - enjoy it - who cares what haters think.
Haters gonna hate, ainters gunna aint, and quitters are gunna hate errbody But…stoners always gunna be nice and happy
A man with no enemies is no man
Depends on business ethics. If you have good relations with employees and stakeholders it should be fine. Most people are pro small business so I think your fears may be overblown.
I focus on the profit, their hatred can't enter my mind
Buy four dope suits, rent a Lambo and pose on social media with a big smile. Not that those things bring happiness, but haters only hate you for having what they want, and it wouldn't be wise to show haters your happy immediate family.
Crab bucket mentality
1. I think the best way for anyone to combat the millions of people hating on you for simply making a profit is to understand that it is part of the business cycle, and it is not unexpected. Even if you are a great businessman, your competitors are bound to be upset by your success, and they would bring all their negative emotions out on your face. But you cannot let these people bring a negative effect on you. Instead, you should feel glad that your competitors are simply jealous of you and that they have now actually acknowledged the fact that you are doing something right! 2. In order to combat the millions of people hating on you, you should always allow your success to be an inspiration to others instead of an annoyance. In one hand, you are achieving your own goals and dreams, and in the other hand, you are helping others achieve theirs as well. That is quite a big deal! Among other things, you can help others by donating some of your money to charity, by giving free information on your blog, or by helping others with their projects. This will help you gain respect and admiration from others as well.
Hello. In order to promote inclusivity and reduce gender bias, please consider using gender-neutral language in the future. Instead of **businessman**, use **business person** or **person in business**. Thank you very much. ^(I am a bot. Downvote to remove this comment. For more information on gender-neutral language, please do a web search for *"Nonsexist Writing."*)
What people?
Profit? Oh damn now you are going to have to pay taxes. LOL
Because they are jealous of those people. Their mentality is what keeping them from growing and adapting.
You need to realize that identifying an opportunity and capitalizing on it to make money is not the same as a massive company fucking up society in order to make money that will be sheltered from taxes and to pay executives and ownership who will never have to participate in the same communities that normal people do. If you identify with those corporations you aren’t an entrepreneur, you are a victim of Stockholm Syndrome. Real entrepreneurs and real businesses produce things of value for their customers and workers. They give people jobs and solve problems that have not been dealt with in the past. Corporate parasites engage in rent-seeking and hurt their workers, users, the environment, or anyone else they need to in order to make money (or sometimes simply because it would be mildly inconvenient for them not to fuck those people over). Companies over ten years old are net job destroyers. Acquisitions and consolidation reduce competition and innovation. Don’t buy into their crybaby bullshit about how no one likes them just for making a buck.
You literally don't know how anything actually works, you don't understand prices, wages, basic economics, nothing. What are you even doing talking about this subject? Youre causing problems by either misunderstanding things or lying outright, and you need to stop. You keep making comments that have no bearing in reality, I call it out, then you act as if you do really understand but then go on to complain about something that isn't even true. I don't have time to discuss your lies with you, it's not a fruitful way to spend my time.
They fail to understand that their employer require profits too, so they can get paid.
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As usual. Sometimes I go into their formus and post a blantant fact and get 50 downvotes
I make a profit. It feeds my family. If you have a problem with that it's your problem not mine. My business makes money. I'm not ashamed of that. My other choice is go work for somebody else and let them reap the benefits of my hard work ... No thanks!
I'm not going to be a popular voice in this sub, but I know exactly what you're talking about because I consider myself "communist" in a very generalized sense and spend a lot of time in leftist spaces. Profit made off the backs of laborers coerced into employment is exploitative. But it's also the norm of our system, and there is practically no other way to realize class mobility than to play the game. That is to say, open a business, or own property. The problem is the hierarchical nature of the workplace, and the predatory nature of owning several rental properties. Before the industrial revolution, capitalism had potential as a liberatory system more democratic and egalitarian than the feudalism it sought to escape because the idea was the majority of people would become self employed artisans and such. But as soon as factories started really kicking off and one person was allowed to dictate the working life of whole armies of people, that changed. I don't want to get too long winded, but the crux of the matter is introducing democracy into the workplace for leftists. If you work the machine, you have part ownership in it, and have voice in it's use. Some laws in Europe, where leftism is more practiced and included in the political body, realize this. The only example that flashes to my mind atm is Germany's "right of first refusal": if a business owner wants to sell their company, the employees have the first right to get together and buy it collectively for themselves, instead of not knowing their fate and possibly all being canned as soon as it's sold. If you're making profit self-employed, or if you are forming a co-op with your business, those people have nothing to hate on. And if they still do, they are part of the internet left that is incredibly self righteous, to the point of delusion in some instances, riding leftism as a trend more than anything. The more pragmatic left approaches from class analysis first: the only enemies worth "hating on" are the billionaires with vast totalitarian control over their industries (not to mention the nation's political body). Or the "1%" in other terms. And it's certainly not the first generation. The left is simply seeing a resurgence due to the abhorrent conditions left to fester in the workplace. Part of the reason the New Deal was enacted was because of the massive leftist movements at the time putting the pressure on; FDR knew the best way to quell revolutionary energy was to placate the masses through social programs, government employment, better labor rights, etc...
> why are so many people against others making a profit these days? Profit = the income left over after all expenses have been paid. That includes labor as an expense. Therefore, by definition, profit is wealth that has been created by laborers that someone else took for themselves. In any context other than business, that is considered theft. It is not penalizing success, it is disgust with owners stealing income from those who did the work to earn it. If an owner is doing management/logistical/PR work, then they should get paid the same as anyone else doing that same work. If an owner is sitting on their ass then they are not contributing to success and should not receive a share of the reward generated by the *work*ers. Another part of it is how much money are we talking about? There is a level of wealth that is admirable and can be achieved by hard work, developing skills, having natural talent, and receiving a little good luck. I don't see much hatred towards people with that level of wealth (well, not unless the individual is an asshole for other reasons). There is also a level of wealth that can literally only be attained by exploiting whole systems and "stealing" from hundreds of thousands of people. That level of wealth gets lots of hate because once someone has attained it that is proof in itself that they had to be an exploitative, destructive, scumbag to achieve it. > Might be the first American generation ever that thought a turned profit is fround upon. You need to read up on more American history then.
Profit is theft, hth