3 ms·

Fear is powerful motivator. Rich people fear prison much more than they fear fines.

by liaukovv 6y ago

toomuchtodo 6y ago
“Laws that are only punishable by fines are only laws for poor people.”
- NovemberWhiskey 6y ago
  Not with a unit-fine approach. There's a case in Switzerland of a driver getting a $300K speeding ticket, for example.
  - unnouinceput 6y ago
    So? still applies. That's pocket change for a multi-millionaire. If I drive and break the speed limit having on my right a beautiful Victoria Secret model and paying the $300K ticket is a way to make her wet, guess what I'll do? Remember the scandal a few years back when models from famous fashion houses in Milan and New York were paid a million dollars per night by rich Arab oil magnates? I'd say those 300K are quite cheap in comparison.
    - NovemberWhiskey 6y ago
      No; you misunderstand. The unit fine scales with income and wealth. The man in question had a net worth of about $23M. So for this one speeding offense, the man was fined about 1.3% of that. Bear in mind, we are talking about a speeding ticket here.
      - unnouinceput 6y ago
        Yeah, I think I understood correctly. My entire argument for a 23M worth still holds. Also if this is in relation to net worth only, that's kinda small. I reckon both Bezos and Musk are worth net a couple of billions only. They are 100+ B only on paper. Coming back to the 23M net one, if that's his net, imagine his stocks. To pay for the ticket he simple does 2 things: - sells some actions - declare the ticket as tax deductible on next fiscal year. Guess he won't care anyway
        NovemberWhiskey 6y ago
        Please go look at the definition of 'net worth', that includes all the value of shares you own.
vmception 6y ago
Not as much as you think. As rich people never need an employer in the future, a felony and prison time isn't as consequential as it is for others. Many times their white collar crimes are able to be negotiated to just under a year in prison, to avoid felony status. Felonies can limit what kinds of financial services they can offer or be a part of, and can limit which countries they can get into. But it still is not the same consequence as the general population.
- Nasrudith 6y ago
  If you have sufficient money and can afford the risk you can build your own job essentially.

Fear is powerful motivator. Rich people fear prison much more than they fear fines.

toomuchtodo 6y ago

“Laws that are only punishable by fines are only laws for poor people.”

NovemberWhiskey 6y ago
Not with a unit-fine approach. There's a case in Switzerland of a driver getting a $300K speeding ticket, for example.
- unnouinceput 6y ago
  So? still applies. That's pocket change for a multi-millionaire. If I drive and break the speed limit having on my right a beautiful Victoria Secret model and paying the $300K ticket is a way to make her wet, guess what I'll do? Remember the scandal a few years back when models from famous fashion houses in Milan and New York were paid a million dollars per night by rich Arab oil magnates? I'd say those 300K are quite cheap in comparison.
  - NovemberWhiskey 6y ago
    No; you misunderstand. The unit fine scales with income and wealth. The man in question had a net worth of about $23M. So for this one speeding offense, the man was fined about 1.3% of that. Bear in mind, we are talking about a speeding ticket here.
    - unnouinceput 6y ago
      Yeah, I think I understood correctly. My entire argument for a 23M worth still holds. Also if this is in relation to net worth only, that's kinda small. I reckon both Bezos and Musk are worth net a couple of billions only. They are 100+ B only on paper. Coming back to the 23M net one, if that's his net, imagine his stocks. To pay for the ticket he simple does 2 things: - sells some actions - declare the ticket as tax deductible on next fiscal year. Guess he won't care anyway
      - NovemberWhiskey 6y ago
        Please go look at the definition of 'net worth', that includes all the value of shares you own.

vmception 6y ago

Not as much as you think. As rich people never need an employer in the future, a felony and prison time isn't as consequential as it is for others. Many times their white collar crimes are able to be negotiated to just under a year in prison, to avoid felony status. Felonies can limit what kinds of financial services they can offer or be a part of, and can limit which countries they can get into. But it still is not the same consequence as the general population.

Nasrudith 6y ago
If you have sufficient money and can afford the risk you can build your own job essentially.