Interesting that we call ours billionaires instead of oligarchs....

[bluewater]

Only bad countries like Russia have "oligarchs", we have kind hearted billionaires avoiding taxes, buying senators, and having their very own "tourism" space rockets.

Big difference.

[at140]

1. Any Billionaire who avoids taxes should be in prison for life

But I am not the jealous type, and would love to have the brains to become a Billionaire myself.
And I pay every cent of taxes due, like clock work, every April 15th. If I was a Billionaire, you bet I would gladly pay all taxes due.

[I_UndergroundPanther]

7. It doesent take brains

It takes dynastc family wealth inherentence
And knowing the right people.

No one gets billions from being smart or kindhearted.

Add in of course an entitlement mentality and narcissism.

[Hortensis]

16. All absolute statements refuted by facts. I mean ALL. Come on.

Some are bad people, just as some grocery clerks are.

Read up on the enormous growth of wealth due to increased production and explosion of buyer's markets over the past 50 years. One of the billionaires who came out of that invented some stretchy underwear that she knew people must want but didn't exist yet, and she did it while working as a fax machine salesman -- entitled narcissistic bitch that she wasn't.

And the reason we don't call billionaires oligarchs, and vice versa, is that they have different meanings.

[bluewater]

19. But there are some American oligarchs, right?

We just never label any of our oligarchs as being oligarchs.

[Hortensis]

29. None, Bluewater. Oligarchs rule. Our uberwealthy don't -- not yet!

Not yet...

We're still sovereign, even if divided (with their help), as Nancy indicates below.

If we were even somewhat more united, we could strip them of everything they didn't put beyond our legal reach first, "legal" largely defined as we chose. We still have that power, and they're right to still be afraid of us.

[bluewater]

31. Nope, oligarchs can just have undue influence, they don't have to "rule"

You are ignoring the second meaning of the term "oligarch".

The US may not be an oligarchy as in rule by oligarchs, but we most definitely have our share of oligarchs.

oligarch
[ˈäləˌɡärk]
NOUN

1. a ruler in an oligarchy.

2.(especially in Russia) a very rich business leader with a great deal of political influence.

I feel we do have oligarchs in this country that unduly influence our politics from everything like fighting climate change legislation regulating coal and other fossil fuels and allowing medicare to negotiate drug prices, we just don't label any of our oligarchs as what they truly are, oligarchs.

[at140]

53. If wealth was acquired by legal means

I do not blame the Billionaires from trying to use their wealth to push their agenda.
I mean you and me can become billionaires too, if we produce something people want.
Bill Gates was pioneer in Disk operating system. It was brilliant idea and he became a Billionaire.

[at140]

51. Bill Gates was not born rich

IDK about the Amazon guy if was born rich, but his idea was brilliant to set up a web site where small businesses could sell their stuff, and Amazon backs up the deal. I had bought a movie DVD from Amazon, but it was not the right format for USA. The seller would not refund my money. I complained to Amazon and got my full refund from Amazon. Why did me or you not think of this???

[rickyhall]

57. Some just come in on the ground floor.

[tenderfoot]

63. Gates wasn't born into Rockefeller wealth but he was very far from being impoverished

His father was a prominent lawyer, and his mother served on the board of directors for First Interstate BancSystem and the United Way of America. Gates's maternal grandfather was J. W. Maxwell, a national bank president.

[kcr]

64. Bill Gates' family was rich

They weren't billionaires, but they were plenty rich. Being smart and inventive isn't a rarity. There are many, many smart people who aren't rich.

[Zeitghost]

50. Avoid ≠ Evade

You avoid taxes when you donate to charity and write it off, you evade them when you work under the table. Tax avoidance is legal, tax evasion is not.

[at140]

52. I politely disagree

If one donates to charity, the money is gone out of your pocket to the charity.
So instead of paying IRS, you are paying part of it to the charity. I don't see it as evading taxes.

[Zeitghost]

60. That's pretty much exactly what I said

Donating to charity is tax avoidance, not evasion. It's a legal way to avoid paying some taxes.

[at140]

61. Where do you think charity money goes?

Do some research, charities use the money to aid the poor & needy.
Government spends a huge chunk on military.

So why blame people donating to charities?

[empedocles]

2. Why not ''robberbarons'', or at least ''neo-robberbarons''?

[I haven't noticed any such usage; though it seems likely somewhere].

[jalan48]

3. It's easier to blame someone from outside the US than to focus on our own.

[CrackityJones75]

4. Even further

Even further we excuse the billionaires we like by making statements that they just own stock.

[JT45242]

5. and we refuse to call it a plutocracy

A government by the rich (overwhelmingly made up of the millionaire class)
for the rich (overwhelmingly passing laws that benefit the wealthy -- especially since the 1980s)
at the expense of the poor.

They started buying judges through the Federalist society -- which gave us the Bush over Gore decision -- which allowed them to fully pack the court to get Citizens United -- which allowed the superrich to literally buy as many politicians as it takes to get what they want.

[pecosbob]

6. I don't...I call them social parasites

[I_UndergroundPanther]

8. I think they are parasites too.

[Caliman73]

9. Happens all the time.

We call white people breaking into shops looking for food after a natural disaster "scavenging" for food. We call Black and Brown people doing the same "looters". While neither is a very pleasant word, scavenging is seen, at least in nature, as a valid form of subsistence, looting is clearly illegal an should be punished.

We are always describing people in our "in group" differently than an "out group". We talk about the "theocratic" and "authoritarian" regime in Iran who are religious extremists, yet our "friends" in Saudi Arabia who are just as extreme, theocratic, and authoritarian, are never discussed in this way.

Such is the human mind.

Also, we actually (some of us) do describe them as oligarchs and plutocrats. A couple of politicians who are part of the left coalition that works with or within the Democratic Party use those terms fairly regularly. That rhetoric does not seem to be appreciated much and criticism of the "space adventures" of our intrepid billionaires has also met with pushback here.

[thesquanderer]

10. Avg joe doesn't know whan an oligarch is, but knows what a billionaire is. n/t

[bluewater]

11. I think the average Joe does know exactly what an oligarch is...

oligarch

[ˈäləˌɡärk]

NOUN

1. a ruler in an oligarchy.

2. (especially in Russia) a very rich business leader with a great deal of political influence.

And I think the average Joe thinks being an oligarch involves being corrupt and using money to obtain undue influence in politics to aid their businesses.

But for some reason, like in this definition, we project and use the term for oligarchs in other countries and not our own.

[Hortensis]

25. The countries political scientists use that term for, though,

don't have liberal presidents -- period -- and don't have legislatures with genuine power over oligarchs. That's a defining difference.

If oligarch was a synonym for "extremely rich person with political influence," every nation on the planet (and every nation since nations were formed) would be an oligarchy.

[bluewater]

27. The definition is : "a very rich business leader with a great deal of political influence"

You left out the "very" before rich and "great deal of" before political influence.

But seriously, I feel we do have oligarchs in this country that unduly influence our politics from everything like fighting climate change legislation regulating coal and other fossil fuels and allowing medicare to negotiate drug prices, we just don't label any of our oligarchs as what they truly are, oligarchs.

[Hortensis]

32. But if ours are oligarchs, what do we call rulers of oligarchys?

We need more than one word for all the different systems of wealth-based political influence and/or control, and plutocrat works for the people we're discussing in what's still a democracy. Thank goodness for that, awful as that reality is.

[bluewater]

33. You are conflating individuals (oligarchs) and a political system (an oligarchy)

Oligarchs can exist in many political systems including ours.

[Magoo48]

12. The acculturation and hoarding of cash is a mental illness rampant amongst the morbidly rich.

They are a social and fiscal burden on us all. In a healthy society, if they continued to refuse help help and persisted in their globally destructive ways, they would be embarrassed and shunned.

[I_UndergroundPanther]

38. We dont live in a sane culture

And wealth hoarders need to share and grow up and curb that ego.

Truth is we can live just fine without them.
But they use abuse,threats and stuff to keep us too scared of poverty to keep us thinking we need them when in reality things would be much better without them.

[Orrex]

14. We pretend that our are champions rather than criminals

[dchill]

15. Bloated leeches.

[Alexander Of Assyria]

17. Except for the space exploration part, with you. Don't see Russian oligarchs advancing science.

[Edim]

18. I call them scoundrels.

Wealth is the last refuge of a scoundrel.

[KS Toronado]

20. Don't believe the sarcasm icon was necessary

Pretty much the truth. IMO

[waterwatcher123]

21. Oligarchs are political operatives who were given significant wealth and power (mafia bosses).

Unlike oligarchs, billionaires in most democratic countries do not act on behalf of mafia bosses like Russian President, Vladimir Putin. The billionaires may behave despicably in countless ways. However, at least they are not wholly owned subsidiaries of a crime family or foreign government (although Trump may unique in that he is both).

[Farmer-Rick]

22. Well, if you admit you have oligarchs

You have to admit your government is not a democracy.....it is an oligarchy.

If you have oligarchs, you have an oligarchy and you can not have a democracy with oligarchs. Admitting we let our democracy slip away is a jolting thought.

Also, in our ridiculously capitalist nation, we worship wealth. We are constantly told the rich are better. We judge each other based on our wealth. We think being rich is being happy.

Our oligarchs make sure this worship-of-wealth propaganda is constantly fed to us. Have you ever been called jealous for criticizing a wealthy person? Have you ever been called lazy for not working longer hours to make more money? Have you ever said, "If he's so smart why isn't he rich"? So, how can you be upset by billionaires when money is everything. Calling them oligarchs, which is really what they are, is insulting the accumulation of wealth.

Just try and imagine that the accumulation of masses of excess wealth is a fault, a greedy and selfish activity that leads to the destruction of a peaceful society.

[NurseJackie]

23. They used to be called "millionaires and billionaires".

[bluewater]

30. Then people realized a billionaire is 1,000 time richer than a millionaire. lol

Oh, and Elon Musk is thought to become the world's first TRILLIONAIRE soon.

[NurseJackie]

35. I wonder why they were demonized...

... the math didn't change in all those years.

Congrats to Elon! That's impressive.

[bluewater]

36. Increasing wealth disparity is what's changed.

It's not just about having a million dollars now, its about having hundreds of millions of dollars.

A family having 1 million in assets, mostly invested in their home, isn't the same as a family with 800 million dollars, yet both would be "millionaires".

Similarly, the richest one tenth of the one percent have HUNDREDS of billion of dollars each now.

So the logical place to draw the line now for describing the uber wealthy would be to refer to "billionaires" only, since they would all be obviously incredibly rich beyond an average earners wildest dreams.

[NurseJackie]

37. I wonder why the demonization of millionaires didn't stop sooner.

A family having 1 million in assets, mostly invested in their home, isn't the same as a family with 800 million dollars, yet both would be "millionaires".

Really?

[bluewater]

40. Probably people not keeping up with inflation, right?

[NurseJackie]

42. Or when the loudest critics themselves become millionaires...

... it makes things kind of awkward.

[bluewater]

44. Millionairehood creeps up on people in their old age... I blame the housing bubble. lol

[NurseJackie]

46. Among other things...

[bluewater]

48. But President Biden was the poorest US Senator.

Wasn't he?

He didn't become a millionaire until after he left public office, or so I thought?

If his property went up in value or he wrote a book, I say Good for Joe!

And it's not "demonizing millionaires" to ask them to pay their fair share of taxes, right?

That goes a thousand-fold for billionaires too.

I support the President's initiatives to have the richest among us pay their fair share in taxes.
That's not "demonizing" anyone.

[NurseJackie]

55. He's an excellent leader that other Senators should model themselves after.

And it's not "demonizing millionaires" to ask them to pay their fair share of taxes, right?

[FakeNoose]

24. Sometimes they ARE good guys/gals

Many American billionaires are quietly supporting projects for the public good. They support education, the arts, culture, public health, scientific research, feeding the hungry, preserving history via archeology etc. through giving to charitable foundations. I really don't think the oligarchs of Russia or elsewhere would even consider such charitable efforts.

Our American wealthy people are (sometimes) philanthropists as well. Even when they're wrapped up in their selfishness, they're not all bad. At least that's what I choose to think.

[Xolodno]

54. Actually...Oligarch's in Russia do support various charity, programs, etc. in Russia.

They don't just sit there and collect money all day. There history has shown, repeatedly, it will eventually get you killed. The bread riot in St. Petersburg which started the Russian Revolution was not caused due to a shortage of bread, but two nobles refused to release the supply until they resolved their argument on the cut of the profits.

I used to have the video, but lost it. There was a major strike in an area, needs weren't being met, etc. and the person in charge was an Oligarch. Putin personally flew in, fixed the issues and on TV, publicly chastised the Oligarch while he was sitting at the same table. Then Putin signed a pledge document for equitable pay standards, safe working environment, etc. Next he looked directly at the Oligarch and said, "did you sign it?". He said he did and Putin responded "I don't see your name on here". Then handed the document and his pen to him, which he promptly signed. Putin looked at the document and then at him and said sternly "give me back my pen".

Say what you want about Putin, but he knows how to make an impact.

Edit: Found the video and I got a few details wrong. But the gist of it is correct:

[IronLionZion]

26. Our oligarchs are job creators trickling down

all over us

[calimary]

28. Robber barons - another term that applies.

[The Jungle 1]

34. I have never understood the super rich.

The question is why. We all have an end date. How about you sit down and enjoy life a little. Old money is just plain stupid and not good for society.
I am old and have enough money to live comfortably. Having billions would not change what is important to me or what makes me happy.

[ProfessorGAC]

39. They Call Them Billionaires...

...in Japan, England, France, Germany, Australia and many more places I've gone to for business.
I get your point, but I don't buy into your use of the terms.

[bluewater]

43. Not all billionaires are oligarchs.

But many are. In this country too.

But the media never calls our oligarchs, well, oligarchs.

Possibly because the oligarchs own most of the media...


Joking. Mostly. Well, not really so much.

[Dave says]

41. Yup. Funny, that.

[Maru Kitteh]

45. I heard the term "American Oligarchs" for the first time on the radio this morning.

Guess what they were selling?

EADY WEALTH BABY! Just call this number and you too can invest in classic art just like the billionaires and make easy money!

[betsuni]

47. How is the U.S. an oligarchy?

[bluewater]

49. The US is not an oligarchy, but it definitely has oligarchs.

A oligarchy is a system of government where the oligarchs rule directly.

An oligarch is a very wealthy business person that uses their wealth to greatly influence politics to benefit their business interests, often against the interests of the common good.

oligarch
[ˈäləˌɡärk]
NOUN

1. a ruler in an oligarchy.

2.(especially in Russia) a very rich business leader with a great deal of political influence.

But here in the US we never call our oligarchs, well, oligarchs.

[bucolic_frolic]

56. That's true

and the backers of Hitler were 'international industrialists' or 'international businessmen'.

Dressing a thug in a suit and tie makes him acceptable to the public. Which shows how easily the naive or ignorant are duped.

[dalton99a]

58. Well, our overlords must have their spaceships

so they can watch global warming from space

[Kid Berwyn]

59. They work towards the same goals.

Steve Bannon and Gus Wengui, for example, ripping off whomever they can.



https://www.thelondoneconomic.com/news/world-news/steve-bannon-on-super-yacht-of-chinese-billionaire-on-evening-before-arrest-198534/