And you're why I find ET so funny, welfare recipients claiming to be millionaires while predicting the Dow at 3000 in 5 years .. it's pathetic how wrong you are. Go short the market and hold for 5 years if you're so confident, at least I have my money where my mouth is
Your mouth overflows for one who understands so little.. I'm not going to bother listening to your non-thinking, BULLSHIT rants... On ignore, asshole!
That question has bothered me for a long time. Down here in Atlanta we have another one Ted Turner, as well as his ex-wife and adored by so many Vietnam vets, Jane Fonda. The best that I can noodle up is these Billionaires have already made enough money to last not only through their childrens' lives, their grandchildren's lives, and who knows how many other generations, but also that they are not in the least bit concerned about how high income or capital gains taxes could go, because it will NEVER really effect them or their families. What I believe is there main concern is KEEPING their wealth over the long term, and this means keeping all the minions, serfs, and hayseeds relatively happy. Think French Revolution. Although completly inferior to capitalism, socialism certainly gives more to the lower classes, at least in a direct way. I'm just saying that revolutionary thoughts from a very unhappy lower & middle class could be a very real source of fear for some of these people.
There is a Milton Friedman clip on Youtube in which he makes the claim that "capitalistic economies provide more bounty to ALL levels of society than socialistic ones".. IOW... "if there is no goose to lay a golden egg, the poor will get no omelet".
While Buffet and Soros have talked about their liberal political views, Bill Gates has never done so unless I am mistaken. He should not be compared with the rest of this group.
Alpine, I see it differently. These billionaires become socialists not to retain their wealth but they have come to the conclusion that their total wealth individually can only accomplish so much in trying to improve the masses. I do believe once these people attain their material wealth they come to the realization wealth is pointless, improving people's lives offers greater rewards. Personally, I think the billionaires miss the point that not all people have the same desires and need for help and wish the billionaires would just butt out with their big ideas. (on someone else's dime, usually taxpayers).
In capitalism the discrepancy between the "haves and have nots" is greater, of course. But his argument is that even the lower economic strata are better off in a capitalistic economy... But look! The Government "doesn't owe you (or anybody) a living"... so said my Grandpa... All we should ask is for the OPPORTUNITY to achieve and for the Gummint to not stand in our way of our pursuits. That's Capitalism! Anyone who thinks he is entitled to more, FOR ANY REASON, is either delusional or selfish.
I think it would be quite selfish for them to maintain this point of view AFTER they've made their stash through capitalism.