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CousinIT

(9,247 posts)
Tue Dec 13, 2022, 11:15 PM Dec 2022

Why billionaires are usually a**sholes...

How Wealth Reduces Compassion

(is this part of what happened to Kyrsten Sinema?)

https://www.scientificamerican.com/article/how-wealth-reduces-compassion/

Who is more likely to lie, cheat, and steal—the poor person or the rich one? It’s temping to think that the wealthier you are, the more likely you are to act fairly. After all, if you already have enough for yourself, it’s easier to think about what others may need. But research suggests the opposite is true: as people climb the social ladder, their compassionate feelings towards other people decline.

Berkeley psychologists Paul Piff and Dacher Keltner ran several studies looking at whether social class (as measured by wealth, occupational prestige, and education) influences how much we care about the feelings of others. In one study, Piff and his colleagues discreetly observed the behavior of drivers at a busy four-way intersection. They found that luxury car drivers were more likely to cut off other motorists instead of waiting for their turn at the intersection. This was true for both men and women upper-class drivers, regardless of the time of day or the amount of traffic at the intersection. In a different study they found that luxury car drivers were also more likely to speed past a pedestrian trying to use a crosswalk, even after making eye contact with the pedestrian.

In order to figure out whether selfishness leads to wealth (rather than vice versa), Piff and his colleagues ran a study where they manipulated people’s class feelings. The researchers asked participants to spend a few minutes comparing themselves either to people better off or worse off than themselves financially. Afterwards, participants were shown a jar of candy and told that they could take home as much as they wanted. They were also told that the leftover candy would be given to children in a nearby laboratory. Those participants who had spent time thinking about how much better off they were compared to others ended up taking significantly more candy for themselves--leaving less behind for the children.

. . .

These findings build upon previous research showing how upper class individuals are worse at recognizing the emotions of others and less likely to pay attention to people they are interacting with (e.g. by checking their cell phones or doodling).

But why would wealth and status decrease our feelings of compassion for others? After all, it seems more likely that having few resources would lead to selfishness. Piff and his colleagues suspect that the answer may have something to do with how wealth and abundance give us a sense of freedom and independence from others. The less we have to rely on others, the less we may care about their feelings. This leads us towards being more self-focused. Another reason has to do with our attitudes towards greed. Like Gordon Gekko, upper-class people may be more likely to endorse the idea that “greed is good.” Piff and his colleagues found that wealthier people are more likely to agree with statements that greed is justified, beneficial, and morally defensible. These attitudes ended up predicting participants’ likelihood of engaging in unethical behavior. . . .
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Why billionaires are usually a**sholes... (Original Post) CousinIT Dec 2022 OP
Bring back the Eisenhower tax rates and watch OMGWTF Dec 2022 #1
THIS !!!! ☝🏾☝🏾☝🏾 uponit7771 Dec 2022 #4
One Problem ProfessorGAC Dec 2022 #5
Kennedy lower the top rate to about 70%, and he said in debates it was to INCREASE revenue Kennah Dec 2022 #8
Exactly! ProfessorGAC Dec 2022 #10
I've actually known someone worth a few hundred million... WarGamer Dec 2022 #2
K&R, uponit7771 Dec 2022 #3
K&R. Maybe the things described are how they became billionaires ck4829 Dec 2022 #6
Interesting, CousinIT. Thanks. Love this kind of stuff. Hortensis Dec 2022 #7
More than just billionaires Johnny2X2X Dec 2022 #9
My Favorite Billionaire NowISeetheLight Dec 2022 #11

ProfessorGAC

(65,082 posts)
5. One Problem
Wed Dec 14, 2022, 10:48 AM
Dec 2022

During Eisenhower, under 1% of those qualifying for the top 3 tiers, actually paid that much in taxes.
It was so easy to shelter income that those at the 90% average paid only around 44%.
Now, that's still higher than now by nearly 9%, and that works for me.
But, those super high marginal rates were mostly an illusion.
Being rich in those days meant being "in the 90% tax bracket". But, the vast preponderance of those folks paid under half that.

Kennah

(14,276 posts)
8. Kennedy lower the top rate to about 70%, and he said in debates it was to INCREASE revenue
Wed Dec 14, 2022, 11:57 AM
Dec 2022

And it worked by eliminating shelters

ProfessorGAC

(65,082 posts)
10. Exactly!
Wed Dec 14, 2022, 12:10 PM
Dec 2022

It had far less to do with marginal tax rates than it had to do with making more income tax eligible.
It's pretty much never been about the rate, unless the tax exposure stays high.
Today, we have neither.

WarGamer

(12,452 posts)
2. I've actually known someone worth a few hundred million...
Wed Dec 14, 2022, 01:55 AM
Dec 2022

And I can talk to why they aren't a billionaire.

The desire to earn and build wealth broke... it became more valuable to spend time with family, to go to kids sports activities and eat dinner together.

To have that desire to keep going... and going... is narcissism. It's megalomania and a hunger for POWER, not for more money.

Oh and he's one of the nicest people I've ever met... so much for crass stereotypes.

ck4829

(35,077 posts)
6. K&R. Maybe the things described are how they became billionaires
Wed Dec 14, 2022, 10:51 AM
Dec 2022

When one props up a billionaire, when one argues to their purse, they are arguing for the traits of a sociopath.

Hortensis

(58,785 posts)
7. Interesting, CousinIT. Thanks. Love this kind of stuff.
Wed Dec 14, 2022, 10:54 AM
Dec 2022

Also interesting, too much "social media" also does, along with exacerbating a lot of other problems. "Republicans HATE children!!!"

Read that donations to charities in general are down this holiday season. At least we won't have little match girls freezing to death, not that bad, just not getting presents if we don't get to it. We do advance, even if we're currently in a retrograde motion stage.

Johnny2X2X

(19,074 posts)
9. More than just billionaires
Wed Dec 14, 2022, 12:05 PM
Dec 2022

I know so many people who just forget compassion once they've pulled themselves out of poverty. The attitude shifts somehow to, "Oh, well I did it, so why can't everyone else?" And they conveniently forget all the help they had along the way.

Now being a billionaire means you probably started out with rich parents, so you've never really had to work to survive. But it just becomes a ruthless game of taking what others have. There are zero honest and ethical billionaires in the world, each one had to lie and steal to get that much.

NowISeetheLight

(3,943 posts)
11. My Favorite Billionaire
Wed Dec 14, 2022, 12:22 PM
Dec 2022

I’ve actually got a few but my favorite is Mark Cuban. #177 on the Forbes list with $4.8b in wealth. After working in healthcare finance and seeing the disaster that is our greedy pharmaceutical industry, seeing him start his Cost-Plus Pharmacy earns my vote.

https://en.wikipedia.org/wiki/Mark_Cuban

https://costplusdrugs.com/

His Dad was an auto upholstery worker. He sold garbage bags at age 12 to pay for basketball shoes. He went to a “cheap college”, worked as a bartender and a salesman.

He is an Ayn Rand fan (but of The Fountainhead). “About Rand's novel The Fountainhead, he said, that it "was incredibly motivating to me. It encouraged me to think as an individual, take risks to reach my goals, and responsibility for my successes and failures. I loved it."‘. That doesn’t sound like the greedy selfish Atlas Shrugged John Galt. I’ve read both of those books and I actually agree with him about being an individual and taking responsibility.

Finally he appreciates diversity and wants to create a great place to work. This was actually on the news last week and is a great read. He sure doesn’t seem to be creating a workplace like Twitter and Elon Musk. He bought the Dallas Mavericks in 2000 and apparently there was a culture of sexual harassment predating his ownership. It looks like he was remiss in not recognizing or addressing it for years. When it was revealed he started an investigation and fired people. He apologized and is taking steps to right the ship. I can see how an owner of multiple companies may not know what is really going on at each one.

https://www.cnbc.com/2022/12/06/mark-cuban-recruited-mavericks-ceo-cynt-marshall-with-a-cold-call.html

https://www.npr.org/2018/09/19/649615551/investigation-into-dallas-mavericks-reveals-sexual-misconduct-over-20-years

It’s nice to see a Billionaire say “I screwed up”. So many of them seem to be narcissists. They never do anything wrong.





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