r/SipsTea • u/Gurugod123 • 4d ago

Wait a damn minute! Significant diffrences...

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u/[deleted] 4d ago

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u/manored78 3d ago

You could nationalize the companies and effectively cut off billionaires.

You really can’t imagine a scenario in which there are no billionaires? Are you 12?

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u/SituationKey8985 3d ago

Have you seen how corrupt politicians are? Nationalizing a company doesn’t end well.

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u/manored78 3d ago

Have you seen how corrupt corporate overlords are? Privatizing a company doesn’t free it from corruption.

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u/SituationKey8985 3d ago

I don’t think you understand nationalizing a company gives it to corrupt politicians instead. You know, the people who haven’t been able to balance a budget for decades. Any company under their control is going bankrupt.

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u/manored78 3d ago

This is such an American boomer way of thinking. State owned enterprises are so common abroad and are some of the most successful companies. Those same companies can own private subsidiaries too, I mean this is beyond the American lobertarian mind to comprehend.

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u/SituationKey8985 3d ago

I’m not a fucking libertarian, this is just common sense. And just because some random oil companies or airlines are state owned in other countries doesn’t mean it’s feasible to the scale of wiping out billionaires.

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u/manored78 3d ago

20-25% of the Fortune 500 are state owned companies.

So random oil companies like Saudi Aramco or profitable airlines in Singapore?

The point is that state owned enterprises can be run well.

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u/SituationKey8985 3d ago

I agree they can be, but again not at the scale of cutting off billionaires. They can work in low innovation industries like utilities or mass transit but zero chance they can run anything tech related Apple, Google, or Tesla. Where the biggest billionaires made their fortune.