New Money Billionaire: "The pitchforks are coming for us plutocrats"

Interesting piece from someone who made most of his present fortune from modern tech. companies and banking.

Fair warning, if you're contractically obligated to fly into a fit of rage at any mention of a minimum living wage, you probably don't want to read this.

http://www.politico.com/magazine/story/2014/06/the-pitchforks-are-coming-for-us-plutocrats-108014

 

I am a strong believer in minimum wage, but at the same time I don't believe in the unrealistic wage demand either. Dont get me wrong everyone in our company gets 40k plus

The company I work for have a graduate program and the uni graduates applying are asking 45k to 50K and some are wanting 60K after completing the graduate program. I used to get a lot of pressure from line managers and HR, I held my ground and said if they want to get hired 40k full stop. 40K is what we are offring.
After after graduating 45k to max 50K dependent on the roles they get offered if any.... If they don't like it tough they can leave..

Sadly few years back I ended up cancelling the program after it has been running for twenty years, it was sad and a hard decision as I myself was a graduate of the program. Now we hire junior IT staff from small companies who have work ethics and have learned a thing or two about corporate life and are actually productive.

I find that these junior hires who are on average 23 to 26 are better suited willing to work for the right wages and a chance to succeed. I have no issues offereing them 60 to 70K still a lot of money at 26.

It is interesting most of the new junior hires wouldn't have qualified for our graduate intake but got jobs in small 50 to 100 seat companies.

BTW I dont approve 457 visas because it is not needed for my industry.

 

"Pups" they're called "Pluto pups" !

 

Read this when it first came out in 2014.

Agree entirely and that is why my Avatar shows the (near) future.

OC

 

Have you noticed how many multi-millionaires and billionaires are philanthropists? Quite a few. Many have blatant socialist views too, at least publicly. Then there are the ones who appear on TV, cradling starving African children. They appear to be lovely people.

None of them give everything away though, nor do they turn one of their mansions into refugee accommodation. Their charity only ever goes so far, usually just as far as they need to go in order to quieten their conscience.

You see, being filthy rich, I believe, weighs on most people's conscience, so after a while most rich people feel they should give something back. It might even be a symptom of fear - fear that one day they could lose it all through being greedy.

This article reads like that to me - the bleating of a newly-discovered conscience. He's feeling guilty.

Ah well, all he has to do is give it all away, eh?

 

I don't think being filthy rich weighs that much on anyone conscience.

About the same an average person looking at a homeless person walking past.

I can give Few dollars as I walk past ten or so maybe every homeless person in Sydney cbd it wouldn't make a difference to my life or most people life.

A billionaire could give $1000 or more, it would not matter in their life.

Would you or I give 10% of my wealth away in my will, likely not

Why would a billionaire leave 10% they worked for that money. Even if born with a platinum spoon why should society dictate what they do for charity.

 

I have no problem with rich people giving money away, or keeping it all. I don't care, especially if they earned it. What irritates me is the way in which many give away the equivalent of me giving $100 to a charity (as a % of wealth) AND have to let the world know about it, preferably with the media in attendance.

Sorry, this is OT. Rant over.

 

If I was filthy rich I would be good for a dollar or two.

OC

 

I totally agree, if we gave $10,000 it potentially could be a bigger % than some billionaire who give $10,000,000 and they trumpet all over the place.

But do you think it is them calling the media to trumpet their "largess" or the charity doing a story to garner more rich to donate as well?

Though kudos to Bill Gates and Warren Buffet, I think they have publicly pledged to give away the majority of their wealth, even if it is 50% well done. even if what is left is still more than the GDP of tiny countries.
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A dollar or two to all the pitchforks is a lot of money