How billionaires are really affecting the economy.

[odunybiz]

Millions of people are being forced deeper into poverty as the ultra-rich increase their wealth. People in the US and around the world struggle to pay the high costs of food, gas, and other necessities, yet over the past two years, the richest 1% have secured nearly twice as much wealth as the rest of the world combined. How is this possible?
Most people believe billionaires are there to help the economy, this is a total NO in most cases. Their very billions are earned because of cheap labor, and cheap labor is available because of poverty. More poverty creates more billionaires. They are rich because they utilze the opportunities coming from developing and poor nations.

In short, billionaires are bad for the economy. How bad? Check out these top four ways:


1. Extreme wealth and poverty are rising simultaneously for the first time in decades
Now more than ever, workers are struggling to pay their bills, buy their groceries, and support their families because inflation is skyrocketing across the world. Corporations are raising the prices on goods, not because they have to, but because it increases the payouts for their shareholders. This lines the pockets of the ultra-wealthy while forcing more people into poverty.

Last year, 95 food and energy corporations doubled their company profits. Instead of investing that money in their employees, they paid $257 billion to their already rich shareholders. In the backdrop of this outrageous corporate greed, 1.7 billion workers live in countries where inflation now outpaces wages.

2. American billionaires are 33% richer than they were at the start of the pandemic
In 2020, the US experienced the worst economic growth since World War II. Much of the country felt this burden, especially marginalized groups, but the top 1% did not struggle. Instead, they became significantly richer.

This is possible because, for decades, the system has been rigged in favor of the rich. Labor laws, CEO compensation, the privatization of public assets, and much more are skewed toward making the rich richer. This leaves little protection and support for the average person, putting them in a vulnerable position.

3. Billionaires are contributing a million times more carbon to the atmosphere than the average person
People across the globe are facing dangerous climate change events, such as severe hurricanes, flash floods, and wildfires because billionaires are making climate change rapidly worse. In fact, 125 of the world’s richest billionaires invest so much money in polluting industries that they are responsible for emitting an average of 3 million carbon tons a year. The more they invest in fossil fuels, the more they protect the use of them, no matter how much the rest of the world suffers in response.

4. The super-rich are taxed at a dangerously low rate
Billionaires paid a low tax rate of 3% while most people with less money, like nurses and teachers, paid far more. If multi-millionaires paid a 2-3% wealth tax rate and billionaires paid a 5% wealth tax rate globally, it would raise $1.7 trillion a year. This money could be used for underfunded social programs, environmental policies, and economic programs. This would reduce the stress of necessities like the cost of childcare and healthcare.

With this tax rate, 2 billion people could be lifted out of poverty. We need to reduce inequality to end poverty and injustice. Increasing taxation up to 5% for the richest people in the world would be a strong step toward equality


Reference: https://www.oxfamamerica.org/explore/stories/top-5-ways-billionaires-are-bad-for-the-economy/

CONCLUSION
Everyone want to become a billionaire and it's a good thing to become one but what will be your impart to your community, nation or the world if you become a billionaire today. People like Warren Buffett, Chuck Feeney, Oprah Winfrey and many more can not be forgotten for their impart on the society. Only few billionaires are ready to help. To solve the issue posted on the economy by the billionaires, the followings can be done

👉👉Reducing the rising levels of global inequality and more billionaire-busting policies should be created.

👉👉Wide-ranging increases in taxation of the super-rich, and we call on world governments to tax multi-millionaires and billionaires

👉👉Creation of total education, full employment and health care facilities for the masses.

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[Poker Player]

As soon as I saw the main points I thought that the article on which you base your post is garbage, and, indeed, I see that it is written by a company (charity) whose business is based on defending the fact that there are many poor people. In those points they always make the same trap and it is a change in the definition of the poor, that 100 years ago they were starving and many millions died of hunger and cold, while today they are fat. With that alone you can see how biased the article is.

You only have to look at countries like China or Mexico and see the obesity problem they have. There are other countries where there is not and there is a problem similar to the previous definition but that is not what the biased article talks about, which has not lacked the diatribe against the rich.

[Tytanowy Janusz]

I think someone has been sleeping here for the last 200 years, because most of the postulates come from another world, the world before the industrial revolution and the then prevailing idea of ​​"toxic wealth", which can only grow as a result of lowering the standard of living of others (in times when the only force producing goods was the power of human hands). Currently, in the era of capitalism, after the industrial revolution and at the beginning of the AI ​​revolution it is recognized that the cake is constantly growing, and therefore the fact that someone has a larger piece does not affect that someone has a smaller piece. If someone is a billionaire, it does not mean that they exploited people, nor does it mean that they will eat a billion loaves of bread a day so that others have nothing to eat.

everyone is the blacksmith of his fate, everyone can set up his own business. If he doesn't and prefers to "get exploited by billionaires", that's his choice. Millions of people dream of being "exploited" by Google on Mountain View. The times of pharaohs, kings and goods derived solely from human hands are over.

Forgive me for my harshness in my post, but it annoys me when someone rationalizes their poverty with the wealth of others, because it's easier that way. It's easier to cry because someone has a lot than to try to get something yourself.
it's easier to cry for higher taxes for the rich than to start your own business and risk your life savings and your family's savings to start it up.

[Kakmakr]

I think most people forget one of the biggest contributions that Billionaires bring to the economy, namely : Job creation

You mentioned that they only contribute 3% to the taxes of a country, but how much is 3% of say 5 Billion Dollars... for only 1 person. How many services can be paid by that contribution and how many government salaries can be paid by that. 

They also create a lot of jobs in the private sector and those people also pay taxes and that money is also being used to fund projects in the public sector. 

[YUriy1991]

4. The super-rich are taxed at a dangerously low rate
Billionaires paid a low tax rate of 3% while most people with less money, like nurses and teachers, paid far more. If multi-millionaires paid a 2-3% wealth tax rate and billionaires paid a 5% wealth tax rate globally, it would raise $1.7 trillion a year. This money could be used for underfunded social programs, environmental policies, and economic programs. This would reduce the stress of necessities like the cost of childcare and healthcare.

If you see that there are special reasons why the tax rate is still being maintained by the government there, however, indirectly the government is also taking risks for the sake of long-term growth for the economy and society as a whole. Yes. As a result, many investors came in, at least they opened a branch of their company there, on the other hand it was also able to create new jobs, increase economic growth and be seen as globally competitive.

With this tax rate, 2 billion people could be lifted out of poverty. We need to reduce inequality to end poverty and injustice. Increasing taxation up to 5% for the richest people in the world would be a strong step toward equality

You are right. There are many things that can be pursued and indeed these (taxes) seem irrelevant and question marks arise and if there is a policy change that leads as you stated, it will have an impact towards a more equal future. meaning that with the additional funds, the government has additional budget slots that can be directed to social programs, environmental policies, and economic initiatives and so on.

CONCLUSION
Everyone want to become a billionaire and it's a good thing to become one but what will be your impart to your community, nation or the world if you become a billionaire today. People like Warren Buffett, Chuck Feeney, Oprah Winfrey and many more can not be forgotten for their impart on the society. Only few billionaires are ready to help. To solve the issue posted on the economy by the billionaires, the followings can be done

It's interesting to read the conclusions you convey, whether you, I or someone else may have aspirations to also become billionaires. and one thing that is also common is when you get to that point, don't forget the land. Indeed, getting great wealth also has the opportunity to make significant positive changes, meaning that billionaires don't only focus on increasing the coffers of their wealth because there are still many weak hands who need strong hands to care for society and the world around you. .

[Zlantann]

👉👉Reducing the rising levels of global inequality and more billionaire-busting policies should be created.

You can not stop people from creating wealth through innovation. Many entrepreneurs are taking risks, working hard, and investing in diverse ventures, while others are relaxing and avoiding risk. It will not be right to make policies that will discourage or exploit them. Some of these billionaires started small and grew their businesses to become multinational. People should be given the freedom to identify business opportunities, grow them and benefit from their input.

👉👉Wide-ranging increases in taxation of the super-rich, and we call on world governments to tax multi-millionaires and billionaires

If you were a billionaire will you support a tax increase? The answer will be no. It is easy to point at these billionaires as the problem,meanwhile, some of them are the solution to our problem. They establish businesses that the government will never engage in. Taxation policies should be fair both for the rich and poor. The government will not tax them so much because they may decide to leave a country and move to another friendly nation.

👉👉Creation of total education, full employment and health care facilities for the masses.

Private companies engage in social corporate responsibility programs. They assist the government in providing basic amenities or services to the population. But the responsibility of providing education, employment, and health care lies on the government. It is the government that should be held responsible if they fail to provide these essential services.

I am against these billionaires that engage in sharp practices to exploit the masses. Some of them partner with corrupt government officials to defraud the masses through shady deals and monopolies. This wickedness should be discouraged. But if these billionaires engage in legal businesses that help to create jobs and provide services, they should be allowed to operate in peace because they are the solution and not the problem.

[blockman]

Only few billionaires are ready to help.

That's why those billionaires that are also philanthropists are given recognition for what they're doing not just for giving people jobs. But also for doing something in return for the success that they're getting. I think that it's their part to do their share if they're mostly impacting negatively some space especially in natural resources, carbon emissions and other factors that affect people globally. Nevertheless, it's going to be said that they have no obligation in helping.

👉👉Wide-ranging increases in taxation of the super-rich, and we call on world governments to tax multi-millionaires and billionaires

You know what, this is what these super rich people are great and that's to exempt themselves from taxation or at least reduce it legally.

[Uruhara]

The issue of global warming due to glass buildings and increasing pollution resulting from more and more factories owned by the rich maybe is indeed true.

But I don't want to cover up the fact that those rich people have also helped in expanding employment opportunities. Many people depend on their company. And even many ordinary people turn rich when they work in companies that make their financial stability better over time. So I think everything has its positive and negative sides.

[burpime]

Millions of people are being forced deeper into poverty as the ultra-rich increase their wealth. People in the US and around the world struggle to pay the high costs of food, gas, and other necessities, yet over the past two years, the richest 1% have secured nearly twice as much wealth as the rest of the world combined. How is this possible?
Most people believe billionaires are there to help the economy, this is a total NO in most cases. Their very billions are earned because of cheap labor, and cheap labor is available because of poverty. More poverty creates more billionaires. They are rich because they utilze the opportunities coming from developing and poor nations.

In short, billionaires are bad for the economy. How bad? Check out these top four ways:


1. Extreme wealth and poverty are rising simultaneously for the first time in decades
Now more than ever, workers are struggling to pay their bills, buy their groceries, and support their families because inflation is skyrocketing across the world. Corporations are raising the prices on goods, not because they have to, but because it increases the payouts for their shareholders. This lines the pockets of the ultra-wealthy while forcing more people into poverty.

Last year, 95 food and energy corporations doubled their company profits. Instead of investing that money in their employees, they paid $257 billion to their already rich shareholders. In the backdrop of this outrageous corporate greed, 1.7 billion workers live in countries where inflation now outpaces wages.

2. American billionaires are 33% richer than they were at the start of the pandemic
In 2020, the US experienced the worst economic growth since World War II. Much of the country felt this burden, especially marginalized groups, but the top 1% did not struggle. Instead, they became significantly richer.

This is possible because, for decades, the system has been rigged in favor of the rich. Labor laws, CEO compensation, the privatization of public assets, and much more are skewed toward making the rich richer. This leaves little protection and support for the average person, putting them in a vulnerable position.

3. Billionaires are contributing a million times more carbon to the atmosphere than the average person
People across the globe are facing dangerous climate change events, such as severe hurricanes, flash floods, and wildfires because billionaires are making climate change rapidly worse. In fact, 125 of the world’s richest billionaires invest so much money in polluting industries that they are responsible for emitting an average of 3 million carbon tons a year. The more they invest in fossil fuels, the more they protect the use of them, no matter how much the rest of the world suffers in response.

4. The super-rich are taxed at a dangerously low rate
Billionaires paid a low tax rate of 3% while most people with less money, like nurses and teachers, paid far more. If multi-millionaires paid a 2-3% wealth tax rate and billionaires paid a 5% wealth tax rate globally, it would raise $1.7 trillion a year. This money could be used for underfunded social programs, environmental policies, and economic programs. This would reduce the stress of necessities like the cost of childcare and healthcare.

With this tax rate, 2 billion people could be lifted out of poverty. We need to reduce inequality to end poverty and injustice. Increasing taxation up to 5% for the richest people in the world would be a strong step toward equality


Reference: https://www.oxfamamerica.org/explore/stories/top-5-ways-billionaires-are-bad-for-the-economy/

CONCLUSION
Everyone want to become a billionaire and it's a good thing to become one but what will be your impart to your community, nation or the world if you become a billionaire today. People like Warren Buffett, Chuck Feeney, Oprah Winfrey and many more can not be forgotten for their impart on the society. Only few billionaires are ready to help. To solve the issue posted on the economy by the billionaires, the followings can be done

👉👉Reducing the rising levels of global inequality and more billionaire-busting policies should be created.

👉👉Wide-ranging increases in taxation of the super-rich, and we call on world governments to tax multi-millionaires and billionaires

👉👉Creation of total education, full employment and health care facilities for the masses.

You raised one point that they became rich even after corona. This is hard to understand for me. All manufacturing and work was stopped, sales were reduced. How the wealth increased then ?

[Adams0001]

Millions of people are being forced deeper into poverty as the ultra-rich increase their wealth. People in the US and around the world struggle to pay the high costs of food, gas, and other necessities, yet over the past two years, the richest 1% have secured nearly twice as much wealth as the rest of the world combined. How is this possible?
Most people believe billionaires are there to help the economy, this is a total NO in most cases. Their very billions are earned because of cheap labor, and cheap labor is available because of poverty. More poverty creates more billionaires. They are rich because they utilze the opportunities coming from developing and poor nations.

Billionaires generally boost the economy, whether consciously or unwittingly.

While their own spending generates some incremental demand, it is insignificant in the grand scheme of things. For example, one individual can eat more expensive steaks and wear more expensive clothes, but they can only wear so many garments and eat so many steaks.

The major way billionaires aid the economy is by creating a pool of wealth that is invested. The more of their money that is put in US enterprises, the better the US economy; the more that is invested outside, the better the overseas economy. These investments can range from quite active, such as families who own private enterprises, to very passive, where their wealth is managed by professional money managers.

[CODE200]

If I may share my thoughts about how millionaires affect the economy, I would say that they have the biggest negative impact, yes they do create jobs which creates movement in the market thus making it grow but they can also layy off those people that they've given those jobs, one example of this behavior is the Amazon one, I don't remember the specifics buttt iirc, Bezos didn't get his way with one of the states so he closes shop in that state resulting in mass layoffs thus affecting the economy. The biggest solution that I can see based on what OP pointed out is the austere taxation to these rich crooks without any way to get exempted but the lobbying industry makes sure that doesn't happen.

[royalfestus]

👉👉Reducing the rising levels of global inequality and more billionaire-busting policies should be created.

👉👉Wide-ranging increases in taxation of the super-rich, and we call on world governments to tax multi-millionaires and billionaires

👉👉Creation of total education, full employment and health care facilities for the masses.

There is a lack of accessible methods for the general population to implement those strategies. The wealthy individuals continue to maintain control over the legislature, judiciary, and executive branches, employing various incentives to further elevate their status, despite being elected from within our own ranks to represent us. The reality is that there will always be a lower class, but how can we ensure that the government works in the best interest of everyone?

[GigaBit]

There is a disparity between the rich and the poor in the world. But nowadays the position of the poor is so low compared to the rich that the poor are now hindered from leading a normal life. A rich person is getting richer and those who were poor are getting poorer. The artificial crisis caused by war has not affected the rich but the poor are fighting for their livelihood. Inflation is now a cut throat for every poor. I doubt how much a rich person is willing to sacrifice for any country? Nothing can be seen in any big donation without the help of the government. A few came forward, but most of the rich try to disappear. The rich continue to try to pile up their wealth by evading taxes where they should pay the most taxes.

[mu_enrico]

I have no complaint about billionaires if they:
- Pay (at least) the same tax level as we do.
- Have the same rights and duties as we do (before the law).
- Have the same rules for conducting business as we do.

I'm not glorifying the current billionaires or taking sides with the poor, but I simply want fair competition. Those who earned their way to the top should be respected, not glorified. They can do whatever they want with their money as long as not breaking the law. There are two sides to this, as we need high-performing, risk-taker people with great vision, as well as average people who do common jobs.

👉👉Reducing the rising levels of global inequality and more billionaire-busting policies should be created.
👉👉Wide-ranging increases in taxation of the super-rich, and we call on world governments to tax multi-millionaires and billionaires

The top 1% will fly to other countries that are friendly to them, leaving their home country in a mess.

👉👉Creation of total education, full employment and health care facilities for the masses.

Not enough money, even before massive immigration.

[NotATether]

As soon as I saw the main points I thought that the article on which you base your post is garbage, and, indeed, I see that it is written by a company (charity) whose business is based on defending the fact that there are many poor people. In those points they always make the same trap and it is a change in the definition of the poor, that 100 years ago they were starving and many millions died of hunger and cold, while today they are fat. With that alone you can see how biased the article is.

You only have to look at countries like China or Mexico and see the obesity problem they have. There are other countries where there is not and there is a problem similar to the previous definition but that is not what the biased article talks about, which has not lacked the diatribe against the rich.

Spend too much money on eating food, and you become obese (and usually in a cash crisis). That's how it works. Unfortunately everyone wants instant gratification: "now now now", even if it will dig them into a deeper financial hole.

I mean, one can argue that "they'll never make it in life so let them spend on whatever now, instead of never" but that is such a BS argument and everyone can and should take control over their financial situation, which was caused by their spending and possibly lack of skills education in the first place.

[Mauser]

👉👉Reducing the rising levels of global inequality and more billionaire-busting policies should be created.

👉👉Wide-ranging increases in taxation of the super-rich, and we call on world governments to tax multi-millionaires and billionaires

👉👉Creation of total education, full employment and health care facilities for the masses.

I don't think becoming a billionaire is a great goal in life, I would rather have a few millions and have a good life with my family then spending all the time working and be a billionaire when I am old. It seems unfair that a few lucky people can have so much wealth concentrated, but that is part of capitalism and international trade. Having one life changing technology that everybody wants can make a person rich overnight. Companies being traded publicly will see their value change a lot and most wealth of the billionaires is not cash but rather companies they own. It's hard to really tax these individuals because of their global presence, most of the companies operate internationally and will just move their headquarters to another country with a more friendly tax system. Same goes for the billionaires themselves, they can just give back their passport and immigrate to another country. There is a lot of competition of small countries to offer tax haven for billionaires because they attract more business and other form of income for the small country.

[Poker Player]

Spend too much money on eating food, and you become obese (and usually in a cash crisis).

That's not exactly what I meant. I would rather say "spend too much money on eating the wrong food" and you will become obese. The cash crisis in poor people has several factors, but I don't think food is the main one.

[Negotiation]

Inflation exacerbates the problem of poverty the crisis worsens for people from low income families and many cannot afford to buy anything at high prices. Paying more for people who already need things like food can be devastating. Inflation also lowers the real minimum wage around the world, meaning it lowers the value of the minimum wage and further lowers the standard of living of those who depend on it. But in the case of the rich it has no effect. The gap between the rich and the poor continues to widen no economic formula can play an effective role in bridging this gap. The rich getting richer requires proper government intervention to reduce this gap then the billionaires will not be able to influence the economy easily.

[Jawhead999]

4. The super-rich are taxed at a dangerously low rate

This sentence is completely bullshit, income tax is progressive tax where people get taxed based on the income they earn. If they earn lower than minimum, they don't need to pay any tax. If they earn minimum salary, they only get small taxed. If they earn a lot money, they need to pay a lot tax too!

But the problem is those billionaires can evade or avoid pay tax by manipulation.

You sounds like rich people is an evil while poor people is good people, the reason why they're poor is they're not want to try hard like the rich people.

[dimonstration]

I think you forgot to consider that Billionaires are the one who provides job and services to normal people. It’s not their problem if they are getting most of the wealth because their business.

The Government fiat is the real problem and the reason that affects the economy badly. They keep printing money while they didn’t give much value on the services provided by the workers. This is the reason why Billionaires keeping up on earning while normal worker is struggling because their services value doesn’t increase.

[stompix]

As soon as I saw the main points I thought that the article on which you base your post is garbage, and, indeed, I see that it is written by a company (charity) whose business is based on defending the fact that there are many poor people.

A company and charity which would end with all its members in the unemployment office once there will be no more billionaires!

Millions of people are being forced deeper into poverty as the ultra-rich increase their wealth.

How is Suckerberg becoming a billionaire forcing a guy in Nigeria to be poor?
Can you show at least a hint of logic with outa triple reverse back side up front back to Neptune mental gymnastic?

Their very billions are earned because of cheap labor, and cheap labor is available because of poverty. More poverty creates more billionaires.

Another load of crap. If that would be real then it means Bangladesh and  India are turning billion faster than Foxconn is assembling iPhones. Probably just like those illiterates that made this study, you're forgetting that in order to profit from that cheap labor they need to sell these products, and if everyone is dirt poor to whom in the name of god and logic are you going to sell them?

let me put it like this, if you had a shop, in what town you would want to sell
- one full of low-wage earners that will buy only on debt from you
- a town where everyone earns above the average and doesn't give a fuck if they hand you a $100 bill instead of $10 by mistake and doesn't ask for it back

The whole idiocracy sounds like that stupid shit conspiracy when the Illuminati are destroying the economy of 3rd world countries so they could sell them shitty products...for what? Camelshitcoins?

Instead of investing that money in their employees, they paid $257 billion to their already rich shareholders.

Oh no, those rich shareholders with which the company would never have existed in the first place and those employees would be out of a job instead of out of a bonus!

People across the globe are facing dangerous climate change events, such as severe hurricanes, flash floods, and wildfires because billionaires are making climate change rapidly worse. In fact, 125 of the world’s richest billionaires invest so much money in polluting industries that they are responsible for emitting an average of 3 million carbon tons a year.

Another brain-dead stupidity, is they invest in that because PEOPLE use it, so if Hitler invested in BMW, and you would be driving a BMW daily, who is polluting, Hitler or you?

If multi-millionaires paid a 2-3% wealth tax rate and billionaires paid a 5% wealth tax rate globally, it would raise $1.7 trillion a year. With this tax rate, 2 billion people could be lifted out of poverty.

No surprise you don't understand wealth!
But anyhow:

Let me ask you something since you're here on Bitcointalk!!
Don't you think is outrageous somebody could be sending 1 billion and paying 1$ in fees while somebody that has to pay 5$ will also be charged the same?  Does this make you want to drop Bitcoin and embrace socialist coin?

To solve the issue posted on the economy by the billionaires, the followings can be done

👉👉 Go to sleep and read a book before!

[ZAINmalik75]

In short, billionaires are bad for the economy. How bad? Check out these top four ways:
1. Extreme wealth and poverty are rising simultaneously for the first time in decades

I do not know why but i do agree with this point, as i never thought for a second about billionaire affecting our economy, because, i do not know many billionaires, all i know is, to earn enough money so i could meet my daily life expenses. Of course i also have to worry about tax which we have to pay in any condition. But your mentioned points are eye-opening for me, but how can we make them to make a positive impact on economy.

Because it is out of budget for an ordinary man to start these types of issues with them. Because all an ordinary person try to avoid unnecessary fights which will increase their budget only.

I also watched so many videos that explains how Billionaire avoid so much tax as they have no job so they are charged less tax then those who are doing some job. In our country, there are not so many billionaires who achieved that position without doin correuption, yeah most billionaires are involved in politics and all of them do corruption on next level.

[khiholangkang]

Why do you define a billionaire is the most detrimental thing for human welfare in economy? Is not he used to be the same as those who starve today, not getting what he wanted when he was young, and they succeeded with his enthusiasm to become a billionaire. Do you hate the success of others in achieving their goals?
Do you mean someone's wealth must be controlled evenly?
Not a few billionaires share their wealth with charity institutions, and also the surrounding community.

I think most people forget one of the biggest contributions that Billionaires bring to the economy, namely : Job creation

You mentioned that they only contribute 3% to the taxes of a country, but how much is 3% of say 5 Billion Dollars... for only 1 person. How many services can be paid by that contribution and how many government salaries can be paid by that. 

They also create a lot of jobs in the private sector and those people also pay taxes and that money is also being used to fund projects in the public sector. 

This is a very good point, those billionaires open job vacancies for many people, pay tax obligations in accordance with applicable regulations in their country, and sometimes they sponsor education for the development of education and also free infrastructure development.
I don't understand where the point of view of the article is.

[Faisal2202]

Why do you define a billionaire is the most detrimental thing for human welfare in economy? Is not he used to be the same as those who starve today, not getting what he wanted when he was young, and they succeeded with his enthusiasm to become a billionaire. Do you hate the success of others in achieving their goals?
Do you mean someone's wealth must be controlled evenly?
Not a few billionaires share their wealth with charity institutions, and also the surrounding community.

I mean no disrespect, but everything whether it's human or not, has good and bad sides, and from my perspective, OP tried to shed some light on the bad side of Billionaires which in my POV is not a bad thing. Because, TBH, i merely give thoughts to the bad sides of anyone, whether they are billionaires or poor. It is my nature to ignore the bad side of someone (like keeping it hidden).

But, sometimes, it becomes necessary to shed light, because it will open many people's eyes, who considered them job providers while they (billionaires) are filling their own pockets too. We should not act like we are fully dependent on them, as the OP tried to say in his point that, Poor are ready to work even for lower rates, so if the poor come to a single agreement of getting paid according to increasing inflation. Then they will earn a decent amount and many laborers do make such protests against their employees so that they increase their pay rate.

[disconnectme]

If you want to be rich and become a Billionaire, you can't be blaming them for the problems caused by the politicians. When you reached a level of wealth what you buy is control and how do you gain this control by buying the politicians, but you see people keep voting for these politicians that just looking at them you know they have been bought. People forget the positive contribution of these Billionaires to the world but only pick on the negative ones, are they the ones creating poverty or the politicians that you keep voting for. I want to be rich and become richer by the grace of God.

Ask your Politicians what they are doing with the taxes they collected from you, instead of going after those people creating jobs for you.

[Gyfts]

2. American billionaires are 33% richer than they were at the start of the pandemic[/b]
In 2020, the US experienced the worst economic growth since World War II. Much of the country felt this burden, especially marginalized groups, but the top 1% did not struggle. Instead, they became significantly richer.

There's a reason for this, and it isn't because billionaires gamed the system.

COVID was the biggest systematic wealth transfer from the lower and middle class to the upper class ever seen, and it was entirely government sponsored. The billionaires didn't have to ask for it -- bureaucracy gave it to them for free. No lobbying, no campaign contributions required.

The government essentially told businesses that they must comply with COVID lockdowns and regulations or cease operations. The large corporations owned by the wealthy were able to make adjustments to their business operations, especially those involved with digital commerce, while smaller businesses were decimated. The smaller businesses couldn't afford the increase in operating costs either with much of the labor force being paid to stay home. Large corporations had the capital to manage, and with smaller businesses closing, their competition was reducing.

Can't forget the stimulus checks. Where do you think much of that went? Straight into the pockets of corporations as consumers flocked to spend the free money the government printed for them. Billionaires face unfair scrutiny when the government created an anti-capitalistic environment. Ask them why.

Your source is Oxfam. Can't imagine where their political views may lay.

Oxfam is a global organization that fights inequality to end poverty and injustice. We offer lifesaving support in times of crisis and advocate for economic justice, gender equality, and climate action. We demand equal rights and equal treatment so that everyone can thrive, not just survive. The future is equal.

[Fortify]

Millions of people are being forced deeper into poverty as the ultra-rich increase their wealth. People in the US and around the world struggle to pay the high costs of food, gas, and other necessities, yet over the past two years, the richest 1% have secured nearly twice as much wealth as the rest of the world combined. How is this possible?
Most people believe billionaires are there to help the economy, this is a total NO in most cases. Their very billions are earned because of cheap labor, and cheap labor is available because of poverty. More poverty creates more billionaires. They are rich because they utilze the opportunities coming from developing and poor nations.

In short, billionaires are bad for the economy. How bad? Check out these top four ways:


1. Extreme wealth and poverty are rising simultaneously for the first time in decades
Now more than ever, workers are struggling to pay their bills, buy their groceries, and support their families because inflation is skyrocketing across the world. Corporations are raising the prices on goods, not because they have to, but because it increases the payouts for their shareholders. This lines the pockets of the ultra-wealthy while forcing more people into poverty.

Last year, 95 food and energy corporations doubled their company profits. Instead of investing that money in their employees, they paid $257 billion to their already rich shareholders. In the backdrop of this outrageous corporate greed, 1.7 billion workers live in countries where inflation now outpaces wages.

2. American billionaires are 33% richer than they were at the start of the pandemic
In 2020, the US experienced the worst economic growth since World War II. Much of the country felt this burden, especially marginalized groups, but the top 1% did not struggle. Instead, they became significantly richer.

This is possible because, for decades, the system has been rigged in favor of the rich. Labor laws, CEO compensation, the privatization of public assets, and much more are skewed toward making the rich richer. This leaves little protection and support for the average person, putting them in a vulnerable position.

3. Billionaires are contributing a million times more carbon to the atmosphere than the average person
People across the globe are facing dangerous climate change events, such as severe hurricanes, flash floods, and wildfires because billionaires are making climate change rapidly worse. In fact, 125 of the world’s richest billionaires invest so much money in polluting industries that they are responsible for emitting an average of 3 million carbon tons a year. The more they invest in fossil fuels, the more they protect the use of them, no matter how much the rest of the world suffers in response.

4. The super-rich are taxed at a dangerously low rate
Billionaires paid a low tax rate of 3% while most people with less money, like nurses and teachers, paid far more. If multi-millionaires paid a 2-3% wealth tax rate and billionaires paid a 5% wealth tax rate globally, it would raise $1.7 trillion a year. This money could be used for underfunded social programs, environmental policies, and economic programs. This would reduce the stress of necessities like the cost of childcare and healthcare.

With this tax rate, 2 billion people could be lifted out of poverty. We need to reduce inequality to end poverty and injustice. Increasing taxation up to 5% for the richest people in the world would be a strong step toward equality

CONCLUSION
Everyone want to become a billionaire and it's a good thing to become one but what will be your impart to your community, nation or the world if you become a billionaire today. People like Warren Buffett, Chuck Feeney, Oprah Winfrey and many more can not be forgotten for their impart on the society. Only few billionaires are ready to help. To solve the issue posted on the economy by the billionaires, the followings can be done

The trouble isn't necessarily the billionaires, although some use their wealth in the wrong way to manipulate politicians and try to rewrite laws for their own benefit. The problem is the governments that do not properly tax these people while they are accumulating such vast fortunes. We should really have far fewer of these super rich and even people with hundreds, or tens of millions, should be doing much greater (forced) contributions back to society. It's difficult though, because these people are the most mobile group around the world and they reach a certain point where they can reside anywhere but travel freely - every country in the world needs to band together so they cannot abuse their wealth in this way.

[dothebeats]

4. The super-rich are taxed at a dangerously low rate

This sentence is completely bullshit, income tax is progressive tax where people get taxed based on the income they earn. If they earn lower than minimum, they don't need to pay any tax. If they earn minimum salary, they only get small taxed. If they earn a lot money, they need to pay a lot tax too!

But the problem is those billionaires can evade or avoid pay tax by manipulation.

You sounds like rich people is an evil while poor people is good people, the reason why they're poor is they're not want to try hard like the rich people.

Rich individuals who own businesses can opt to receive $1 dollar salary, and that is to avoid paying more taxes. I guess you can say that since the business is already paying tons of taxes to the government, the individual no longer needs to pay that much as well but still, rules are rules, and when you are rich and can literally do whatever you want, these rules don't apply to you.

Rich individuals still need to pay taxes just like the rest of the common folk, though they are getting taxed less in terms of percentage because they opt to receive only that much of an income, so in a way they are still playing by the rules.

[Chukwudumaga]

The number of rich people in the world is increasing tremendously along with the rate of poverty. As the number of rich people increased, the number of poor people was supposed to decrease, but in reality it has been different. People around the world, including the United States, are struggling to meet their basic needs. But even in this situation, only 1% of people own twice as much wealth as the remaining 99% of people.

Based on various factors, many have expressed that millionaires are bad for the economy. Today the richest earn 6 times more than the poorest 90% of the world. And this extreme gap is increasing drastically.

Rich people tend to pay very little tax. Its impact is greater in poor countries. But the poor people are relatively ahead in paying taxes. If the rich people had paid taxes properly, then the government could have used more money for the social development of the country and overall development of the country. Moreover, their proper taxation helped lift some people out of poverty.

Due to inflation, the number of poverty is increasing greatly. Nowadays a worker has to spend more than before where their income has not increased. The prices of daily essentials are now skyrocketing. Businesses have increased the prices of their products many times and they have adopted this inflation as a strategy to collect their money. Due the fact the rich get richer.
A study found that many companies made huge profits during this period while depriving their workers of the wages they received in return.

Some company owners have become billionaires when people are devastated by the pandemic. In countries like America, 33% of people are wealthier than before the pandemic and this is possible due to some reasons one of them can be corruption. Various measures to protect their own interests by using various government institutions have created opportunities for some people to make a lot of money.

Today rich people are destroying the environment where poor are suffering. The poor have no other choice but to look on, their various institutions are constantly obstructing them at various levels starting from environmental issues. But even if this disparity could not be removed, if the rich pay their taxes properly, a nation can be rich and prosperous. For various reasons people today are forced to say that the rich have nothing to contribute to the country.

[Becassine]

It's not about criticizing the rich out of jealousy.

It's very good if a guy starts his business and succeeds, it's even very good. It is normal that he is rewarded for his efforts. Here we are talking about the super rich, people who can buy anything at any time.

Everyone knows that capital makes more money than work. What happened to make the rich get richer? It's simple with low interest rates, they borrowed and bought including (but not only) real estate for example.

Rentals will bring them even more and drive up prices. And this has been going on for years, today young people can no longer buy and find it difficult to rent, even though it is still a vital need! Is it normal to pay off your house for 30 years? Is it normal to enter the workforce after graduation with huge debts?

Now the rates are going up, but the ultra-rich don't care, on the contrary, now it is their investments that will bring them in. And by having also bought the media, by lobbying etc... they can also make you believe that they create jobs and are benefactors of humanity when in fact by their monopoly situation they only promise minimum wage. The less rich in debt for housing have no choice but to go to work at a lower cost for a minimum wage. And when we take a look at the Panama Papers and other papers, we know that in addition the super rich manage to put their money in tax havens.

Of course, this situation cannot last any longer, the ultra-rich dominate the world for cheap labour. Capital should be taxed more when it goes beyond understanding. People must be able to find accommodation, eat normally and have leisure with the fruit of their salary. It's a minimum.

A few decades ago a worker could buy a house and a car and supported the whole family. Today if both spouses do not work, it is almost impossible. It's fine for women to work unless it's for under-qualified miserable work which also obliges the parents to pay someone to take care of the children. But the media made it seem like it was great anyway, when in fact it just became impossible to stay home and raise the kids (no matter which parent stays home for that matter).


Listen to this man, he's right, it's not possible anymore : https://www.youtube.com/watch?v=NzpQYLZByQo

[bitzizzix]

I don't think there is anything good or bad for the economy, because the economy is just a system. If your system isn't working the way you want it to, it's because you have a crappy system, not because someone is richer or controls the resources within the parameters of that system.
but billionaires generally help the economy intentionally or unintentionally, and for the country's economic problems most of them are the cause of our economic problems. The reason why the middle class is in freefall is because the rich hoard all their money.

[adaseb]

I remember when Elon Musk said he would donate his money (or some of it actually) if it could end world hunger. He just wanted a calculation proof first that it was possible.

After many weeks nobody could come up with a way for his wealth to solve world hunger problems. Most don’t realize that. Even if they donated all their billions most of the world would still be poor. There are bigger issues at play here.

[Uruhara]

If I may share my thoughts about how millionaires affect the economy, I would say that they have the biggest negative impact, yes they do create jobs which creates movement in the market thus making it grow but they can also layy off those people that they've given those jobs, one example of this behavior is the Amazon one, I don't remember the specifics buttt iirc, Bezos didn't get his way with one of the states so he closes shop in that state resulting in mass layoffs thus affecting the economy. The biggest solution that I can see based on what OP pointed out is the austere taxation to these rich crooks without any way to get exempted but the lobbying industry makes sure that doesn't happen.

I don't know how rich people in other countries are treated. But in my country the tax for rich people is much bigger. Even in our country, if you have more than 3 private vehicles, the taxes imposed on us will be much higher.

that is, they are rich people who are able to multiply their wealth because of their large capital. But the poor people find it difficult to improve their standard of living because they only have small capital in business. Which is where small businesses can't be price controllers. but only have to follow the prices of the big businessmen.

billionaires do have a big impact on the surrounding economic structure. either negatively or positively.

[Inspiron14]

I remember when Elon Musk said he would donate his money (or some of it actually) if it could end world hunger. He just wanted a calculation proof first that it was possible.

After many weeks nobody could come up with a way for his wealth to solve world hunger problems. Most don’t realize that. Even if they donated all their billions most of the world would still be poor. There are bigger issues at play here.

Because donating money only addresses the root of the problem, not the root,
besides that the problem of hunger also occurs because of a very complex problem,
Hunger cannot be simply overcome.

[davis196]

The rich people became wealthier because of the big central banks and their money printing machines.
Inflation is "tax over the poor" and it benefits many companies and rich people, but we have to know that the rich people didn't create the inflation.
The rich people pay low taxes because there are problems with the tax legislation, which create legal opportunities to avoid high taxation.
Many rich people are investing in polluting industries and so what? This is perfectly legal in most countries. Did anyone declare it illegal?
The billionaires are simply taking advantage of a rigged system. The people, who are maintaining this rigged system are the politicians and the central bankers.

[franky1]

its simple

imagine there was 30trill in the economy. one year and 33trillion the next year
it appears as 10% inflation of the economy..

however that new 3trillion is not sitting in the bank accounts of average joe
that 3billion went to institutions, its not circulating amongst the average joe people

average joe are still playing with each other with a far smaller amount. that has not moved much

the covid stimulus did put funds into average joe.. but within the same month it trickled up to the institutions when average joe bought stuff/invested the stimulus

during the 2008 crises the bank stimulus was to stop banks from calling in trillions of debt. but that stimulus did not trickle down. it stayed at institutional level

so while billionaires had boosted their valuations of their wealth on paper.. the average joe had the same amounts as previous but were told that their lives had 10% higher demands on them. thus they got poorer.

just remember. billionaires are only billionaires because they hoard their wealth, not spend it

poor people spend over 95% of income. billionaires spend under 5% of their income

[Becassine]

The rich people became wealthier because of the big central banks and their money printing machines.
Inflation is "tax over the poor" and it benefits many companies and rich people, but we have to know that the rich people didn't create the inflation.
The rich people pay low taxes because there are problems with the tax legislation, which create legal opportunities to avoid high taxation.
Many rich people are investing in polluting industries and so what? This is perfectly legal in most countries. Did anyone declare it illegal?
The billionaires are simply taking advantage of a rigged system. The people, who are maintaining this rigged system are the politicians and the central bankers.

Your reasoning is correct but incomplete. The power of money makes it possible to corrupt politicians who then vote for laws in favor of the ultra-rich (taxation, pollution permits, etc.). And here the loop is closed. We have already seen multinationals benefit from state subsidies to settle somewhere against the promise of local jobs and leave as soon as the subsidies have been pocketed.

Morality: the richer the super-rich, the more corruptible politicians become.

[michellee]

The billionaires must have a lot of businesses in various fields so that's what keeps them rich and have a lot of money. They help the economy through their business and even though the economic situation is getting more difficult, the billionaires can survive well. Maybe the billionaires will put the inflationary moment to good use by offering something to people who need help.

Those affected by the disruption of the economic problems are the lower middle class, who are not prepared for the worsening situation. They will lose control and eventually lose their money because they must meet their needs.

But some billionaires may influence the economy with their power because some billionaires are close to the government. They move behind the wall in controlling the economy with the rulers.

[el kaka22]

The problem with rich people becoming richer and poor people becoming poorer is real, but the solutions we have come up with do not provide any sort of real tangible result so far. The problem is, if you end up taxing the rich too much, and try to help the poor with that money, which is the logical thing to do, then there is a chance that those rich people would just take their business elsewhere. Too many companies have headquarters in Singapore and Ireland, have you asked, "why".

Because they wanted to pay less taxes. So, what can you do? You can do all the revenue made within your own nation, and not tax the people who buy the thing, but tax the company that sells it, so the company doesn't sell something for 2k+tax, they sell it for 4k, no taxes, taxes then paid by the company. See if those huge companies can still sell that much, and people will get awareness about it too.

[stompix]

The number of rich people in the world is increasing tremendously along with the rate of poverty. As the number of rich people increased, the number of poor people was supposed to decrease, but in reality it has been different.

BS:

Also, the way poverty is calculated has changed so much in the last decades that is no longer even remotely the same as at the beginning of the last century, it has added a ton of things that weren't even debatable possible a century ago.

In countries like America, 33% of people are wealthier than before the pandemic and this is possible due to some reasons one of them can be corruption.

Again, how in the name of god did 33% of the Americans get wealthier if yous aid only billions get richer and the rest end up poorer?
Do you actually read what you type and give a second though on it?

It's not about criticizing the rich out of jealousy.

Not jealousy, sometimes is also stupidity!

Rentals will bring them even more and drive up prices. And this has been going on for years, today young people can no longer buy and find it difficult to rent, even though it is still a vital need! The less rich in debt for housing have no choice but to go to work at a lower cost for a minimum wage. And when we take a look at the Panama Papers and other papers, we know that in addition the super rich manage to put their money in tax havens.

Can you tell me, if the poor end up being paid less, and not affording housing, how are the people that sell them fewer goods and not being able to rent out hosues making more money? Because never in my life have I experienced a year where we would sell less meat for cheaper and make more money, for example as this is our family business.
Not in all my years of work for a company have I seen a year where we had fewer clients, ordering less and we would make more!
It's one of those mysteries of the socialist manifesto, so can you please explain to me how this is even possible?

I remember when Elon Musk said he would donate his money (or some of it actually) if it could end world hunger. He just wanted a calculation proof first that it was possible.
After many weeks nobody could come up with a way for his wealth to solve world hunger problems.

Because that would imply work, and socialists are only after getting free money, working for that money would make them... capitalist! 

[Unbunplease]

Let's look at the problem from the other side. Is it good to have billionaires in the country? Having billionaires helps the country progress faster, because the state budget cannot afford various projects. But a billionaire can. Of course, a lot depends on the personality of the billionaire, but there is no such thing as everyone being bad.

[GeorgeJohn]

Billionaires is not helping matters in the country they are the reason while some people and country is suffering, I believe that economy of a country lies on the management of the country and business people, I believe that if economy of country is good its for the betterment of the nation, but in nutshell business men are the people who support the growth of a country through their products

[panganib999]

The thing is. The government and the bylaws that it had created "in the service of the public" is nothing but a facade to shelter and protect the interests of a few. Just take the tax code for example. Why is it that the normal people are getting incarcerated for wrongfully calculating their tax but rich people can go out willy-nilly without consequences? Why are they being exempted from sanctions that the common people are supposed to suffer should they break the law?

We could talk about how important it is that we change the paradigm between the rich and the poor but even if we are given the opportunity to, the government will intervene as without these 1%, they wouldn't be able to secure a place in power and would not be able to perform graft, instill biases on real laws that could affect the lives of the millions, and much more.

[Smartvirus]

Let's look at the problem from the other side. Is it good to have billionaires in the country? Having billionaires helps the country progress faster, because the state budget cannot afford various projects. But a billionaire can. Of course, a lot depends on the personality of the billionaire, but there is no such thing as everyone being bad.

The problem isn’t about the billionaires, it’s about the rest of the masses and their demand for a standard of living that they can hardly afford. That’s the problem! You ain’t a billionaire and somehow, you try to emulate there lifestyle with the luxurious stuff and not just that, even as common as food, you seek imported stuff rather than locally made and then, the cost is something out of your reach but you find a way to get it anyway.
That’s the real problem. People ought to realize when they are going above their heads and learn to hold back.

[Sayeds56]

I think most people forget one of the biggest contributions that Billionaires bring to the economy, namely : Job creation

You are correct in acknowledging that Billionaires contribution for job creating is huge, which helps the society in many ways, as well as government in the shape of increased tax revenue. However, job creation is just one role played by Billionaires, while there are other complex and multi-faceted considerations, such as income inequality, wealth distribution and concentration of wealth in few hands. These long-standing issues require government attention to address them effectively to create a more balanced society.

[kro55]

I think most people forget one of the biggest contributions that Billionaires bring to the economy, namely : Job creation

You are correct in acknowledging that Billionaires contribution for job creating is huge, which helps the society in many ways, as well as government in the shape of increased tax revenue. However, job creation is just one role played by Billionaires, while there are other complex and multi-faceted considerations, such as income inequality. wealth distribution of wealth, and these long-standing issues require government attention to address them effectively to create a more balanced society.

It is true that our society needs balance, but is it right to speak ill of billionaires? I mean, why can they be billionaires, and we can't? They are very good and talented people, which they achieve due to their efforts. Maybe they used tricks and tricks to get there, but we must admit that they are much better than us. What they achieve is because of their hard work, we are criticizing them as if we were jealous of their success.

I'm not defending them because it doesn't benefit me, but I mean, they are contributing more to the country than we are, so it's not right to judge them.

[Dr.Bitcoin_Strange]

Well, I can say this case is more serious in some countries than others, mostly in third-world countries, where the poor are even described in a better and worse category. In my country, there is always something guys like to say any time they are discussing the country's economic system, which is, "The rich with their gree, keep getting richer and the poor keep getting poorer because of the oppression they get from the rich." Yea, that's because the situation here is not all perfect too. I have just come to realize that the rich (maybe not all of them, but the majority of them) are so greedy that they always want the poor to keep serving while they just receive some little earnings that cannot even be able to solve their needs. I remember the case of one of my friend back then in college; he was a very dedicated guy in every aspect of his career. Back then, he was living with his uncle, and this uncle of his was so rich and have connections in government. The guy was serving him, and the man had promised him that he would sponsor him through his education and make sure he gets the best job or business that will make him a millionaire or billionaire too (story short), but the man got so greedy that he could not even sponsor the guy very well through the university. So, the rich people just always want to be on top, which is why they love to oppress the poor. Not only that, they even oppress those who are trying to level up (in my country, it's happening).


Cheers 🥂, Dr.Bitcoin_Strange 👺👺

[yhiaali3]

Unfortunately, in most countries around the world, the ultra-wealthy are taxed at a much lower rate than people with limited or average incomes or professionals.

There is never proportionality or fairness in the distribution of taxation, especially in developing countries, while simple employees here in my country are forced to pay high tax on their paltry salaries, sometimes reaching 15-20%, much less tax is imposed on the wealthy.

The problem is that this large gap, which is widening day by day, creates an atmosphere of hatred in society that makes it boil over and may lead to the outbreak of violence and unrest in these countries. We have already witnessed such events in some countries.

[xSkylarx]

So it is really true that those billionaires are paying less taxes, which is very unfair to all of us, as for sure those business or small business owners are paying the right tax, but are those billionaires able to pay less because they are more knowledgeable in taxes? I really don't know how they do it, but it is not good if the government is not doing something on this, like having a law about taxing billionaires. What i am just aware of is that those billionaires have a big impact on carbon emissions as they have more vehicles, mostly bigger ones like a private jet, that contribute a lot of carbon emissions that are not good for us or the earth.

[Peanutswar]

Because they have money they have the capability to make an investment more with the infrastructure and we know there's a lot of people using those services made by them and another thing is because they are the one who have paid a lot for the taxes. But we cannot deny that there's still other way that they could escape those taxes regulations. The way millionaire or billionaire people earn money because they have different perspective way in life, they have the skills, mind and very important money, in reality money is the power in this world.

[Marvell1]

Unfortunately, in most countries around the world, the ultra-wealthy are taxed at a much lower rate than people with limited or average incomes or professionals.

There is never proportionality or fairness in the distribution of taxation, especially in developing countries, while simple employees here in my country are forced to pay high tax on their paltry salaries, sometimes reaching 15-20%, much less tax is imposed on the wealthy.

The problem is that this large gap, which is widening day by day, creates an atmosphere of hatred in society that makes it boil over and may lead to the outbreak of violence and unrest in these countries. We have already witnessed such events in some countries.

Are you sure what you are saying? 15%-20 % income tax for individuals is very high, and I have never seen that in my country. In my country, people who earn less than $300 are not even taxed, and only people who make more than $500 per month are taxed at 5%, but most people find a way not to pay taxes. Furthermore, do you have the data proving that billionaires pay lower taxes than workers? We don't have any proof, what we say is just speculation because we feel that society is unfair and unjust when there is a big gap between rich and poor.

[kryptqnick]

I've heard that the gap is widening, and the richest are profiting more than ever while poverty is on the rise. This is absolutely immoral, unacceptable. There's this issue in the US that billionaires aren't actually paying their fair share of taxes for a few reasons, one of which is that you need to sell assets to pay the sell tax, but if you don't sell, you don't pay. It's important to ensure that they pay up, but also that this money doesn't go into pockets of other wealthy people and is truly spent on helping the poor.
That being said, there are some influential billionaires that support education, technological progress, democratic values, etc. So an approach must be balanced, and simply focusing on the negative things about billionaires won't help.

[Wend]

Let's look at the problem from the other side. Is it good to have billionaires in the country? Having billionaires helps the country progress faster, because the state budget cannot afford various projects. But a billionaire can. Of course, a lot depends on the personality of the billionaire, but there is no such thing as everyone being bad.

I agree with you on this point, a country with many billionaires, many rich people is still better than a country with many poor people. Billionaires are not perfect people because they, like us, always put their own interests first. And they are like us, there are good people and bad people, not all billionaires are bad, and all poor people are good people. It's unfair that we speak ill of them here just because we're not like them. I wonder, when we become rich, do we become bad people in the eyes of others?

[yhiaali3]

Are you sure what you are saying? 15%-20 % income tax for individuals is very high, and I have never seen that in my country. In my country, people who earn less than $300 are not even taxed, and only people who make more than $500 per month are taxed at 5%, but most people find a way not to pay taxes. Furthermore, do you have the data proving that billionaires pay lower taxes than workers? We don't have any proof, what we say is just speculation because we feel that society is unfair and unjust when there is a big gap between rich and poor.

Unfortunately this is absolutely true, I was a government employee and my paltry $30 salary was taxed with tax brackets ranging from 5-20% per month, while the rich might only be charged an income tax of 1-5%.

This is of course because of government and administrative corruption. These unbelievable paradoxes happen in this developing country because there is great corruption in the war-weary country and the rich bribe politicians to pass laws that exempt them from taxes and provide them with great facilities, while poor government employees suffer from high taxes on their paltry salaries. Which is not enough to cover the expense of one day.

[Darker45]

I also have a number of issues against these ultra rich people, but I think this isn't a simple black and white issue. In the first place, how did these people become billionaires? Is it because of cheating? Is it because of unfair advantages? Or do they deserve all the richness that they have because they were industrious, innovative, brilliant, and so on?

I agree that many of these ultra rich people are building their wealth out of the hardships of others, but shouldn't we also take a look at these hardships? Why are they poor, to begin with? Are they not partly responsible for their own poverty?

Or how about the authorities, those who are responsible to promote everybody's welfare despite the inequalities?

[Uruhara]

Because they have money they have the capability to make an investment more with the infrastructure and we know there's a lot of people using those services made by them and another thing is because they are the one who have paid a lot for the taxes. But we cannot deny that there's still other way that they could escape those taxes regulations. The way millionaire or billionaire people earn money because they have different perspective way in life, they have the skills, mind and very important money, in reality money is the power in this world.

They have the money to buy information ahead of time that can keep them in the lead. And it is very clear that the large capital they have can make them have much bigger profits. But with large capital, of course they are also at risk of getting big losses.

And however they do have a big contribution in the economy of every country they live in. because a billionaire who has many companies also certainly has many employees. the number can be up to hundreds of thousands of employees. And the economy of hundreds of thousands of employees depends on the company owned by the billionaire. and if a billionaire decides to close the company and fire all the employees he has. then in an instant an economic crisis in a small scope can occur. and can affect the larger economic environment.

[Onyeeze]

I think most people forget one of the biggest contributions that Billionaires bring to the economy, namely : Job creation

This is a point I know very well that billionaires contribute to a country, reducing a rate of unemployment in a country is a good role and it help to increase the rate of country economy due to many poor people will be opportune to pay a tax to the country through absorbing them in a company or industry, so with that I believe government can receive more revenue from any one working, job creation will rise up the country economy because of taxation, a billionaire have more support to country economy to rise to some percentages than poor people

[CryptSafe]

I get your plights and your points are some worth valid though but I would want you to understand that the rich and possibly billionaires and millionaires all around the world have played a vital role in the world economy irrespective of what we are seeing in the world today. Various countries got to the limelight as a result of the presence of billionaires impact in their society.

The rich looks for ways to acquire information to develop and build up their countries and cities to enviable heights whereby nation's would look up to them for assistance. They create job employment as a result of their industries and mega station they have built in their counties and this attracts foreign investments and billateral trade and diplomatic ties amongst nation's.

Nevertheless, I came across a reply post from this thread by Darker45, though the question is pertinent but you should know that many things happen and people take advantage of situations at their own betterment of which as a smart business man you would do same to remain relevant and at the fire front in the society.

[TheUltraElite]

OP got trashed by many of the members here, I some what feel sorry for them.

I can see the mindset problem that many work-frustrated middle to lower class people face when dealing with their problems over years, that turns to hatred towards the upper class fueled my anger and being miserable. Nobody seems to acknowledge that they were not born rich but had to reach that position with hard work, some wrongdoings and a lot of determination. Something that might motivate others to see a ray of hope in a dull world.

At the same time such people are also the socially inert and not willing to change their old habits to adapt to the new such that they might get an edge over others - being flexible. I see the bigger problem is with the people who keep complaining because their vision is narrowed down.

[Marvell1]

Are you sure what you are saying? 15%-20 % income tax for individuals is very high, and I have never seen that in my country. In my country, people who earn less than $300 are not even taxed, and only people who make more than $500 per month are taxed at 5%, but most people find a way not to pay taxes. Furthermore, do you have the data proving that billionaires pay lower taxes than workers? We don't have any proof, what we say is just speculation because we feel that society is unfair and unjust when there is a big gap between rich and poor.

Unfortunately this is absolutely true, I was a government employee and my paltry $30 salary was taxed with tax brackets ranging from 5-20% per month, while the rich might only be charged an income tax of 1-5%.

This is of course because of government and administrative corruption. These unbelievable paradoxes happen in this developing country because there is great corruption in the war-weary country and the rich bribe politicians to pass laws that exempt them from taxes and provide them with great facilities, while poor government employees suffer from high taxes on their paltry salaries. Which is not enough to cover the expense of one day.

Honestly, it's not that I don't believe what you say, but they do surprise me because in my country, billionaires are paying more in taxes. In addition to taxes from their businesses, they are also taxed personally, although I don't know the exact percentage they pay. And I've always thought that people who work for the government will always have a very high salary, not a meager salary like you say, but I'm thinking $300, not $30 . By the way, corruption has almost become a culture in government, and it happens in any country, not just yours.

[kaseygriffin]

Why are they rich? Why are we poor? And why do people prefer to lose to each other in terms of material and fame?
I find it funny to point out the reason that it may be wrong right from the moment we ask the problem, the problems in life have many different shades, and an invisible law is always present around. around us is its balance. As some of the stories have stated, it's just a small part of all that's going on, I don't like to blame when we're at a lower level without understanding what their position is going through.
I am a person who loves equality and justice in life, so I realize the problem is that it is so, so how to turn negative things into positive, and increase more positive things in life.

[so98nn]

I think most people forget one of the biggest contributions that Billionaires bring to the economy, namely : Job creation

You mentioned that they only contribute 3% to the taxes of a country, but how much is 3% of say 5 Billion Dollars... for only 1 person. How many services can be paid by that contribution and how many government salaries can be paid by that. 

They also create a lot of jobs in the private sector and those people also pay taxes and that money is also being used to fund projects in the public sector. 

This is just something I wanted to say here. Just perfect. Obviously man, why wouldn't they be rich? They are running A to Z around the world and what makes us think they are just enjoying in their little cocoon? They also started at some point. Some of them started from history for that matter and everything came down as thrones passed from generation to generation. But they are not just sitting somewhere and doing nothing? They have businesses, they have their leaderships running big companies and giving us employment.

If a poor man is frightened that how he will eat tonight, from where the money will come to him and etc etc, then just remember he is only thinking about himself or may be two or three family dependents.

BUT, let us not forget one thing, whenever there is the 30th or 31st of any month, the rich who runs the company has to preplan everyone's salary distribution and has to send millions of dollars from his share for the work we did and on which we pay the bills for food, travel, luxury and what not.

So come on, if there are rich peeps, then there is nothing wrong.

[Davian144]

Why are they rich? Why are we poor? And why do people prefer to lose to each other in terms of material and fame?

Maybe those who are rich because they have tried their best in their lives and also maybe we are poor because we still haven't tried our best in our lives. And for people who prefer to lose each other because of material and fame, it's not much different from people who are trying to get rich in their life, because that is also part of the effort that they can do to get material and fame so that they can get rich. Although not everyone is willing to do this kind of thing in their life.

I find it funny to point out the reason that it may be wrong right from the moment we ask the problem, the problems in life have many different shades, and an invisible law is always present around. around us is its balance. As some of the stories have stated, it's just a small part of all that's going on, I don't like to blame when we're at a lower level without understanding what their position is going through.
I am a person who loves equality and justice in life, so I realize the problem is that it is so, so how to turn negative things into positive, and increase more positive things in life.

There's nothing funny in this life if everyone wants to do positive things and always keep their minds off the wrong way of thinking. Because that is a better way of ending when someone wants to be rich in their life even though everyone has different problems in their life and different perspectives on every problem they face. But anyone will not find funny things in life if they are able to work and think positively regardless of what other people get.

[Gozie51]

I am a person who loves equality and justice in life, so I realize the problem is that it is so, so how to turn negative things into positive, and increase more positive things in life.

Despite our believe that things should be normal and that people should be equal to one another as human beings with the same features making us humans , we have to also know it within our minds that equality exist in the minds and not in reality whether in economic status, politics or family background which is even the strongest point to place someone on a particular level. It is unfortunate that we see social injustice everywhere in our daily lives which gives other the added advantage that they have rode on. The egalitarian society that is conceived by some social philosophers seem not to be near achievement because opportunities keep pushing the rich and poor apart.

[yhiaali3]

Honestly, it's not that I don't believe what you say, but they do surprise me because in my country, billionaires are paying more in taxes. In addition to taxes from their businesses, they are also taxed personally, although I don't know the exact percentage they pay. And I've always thought that people who work for the government will always have a very high salary, not a meager salary like you say, but I'm thinking $300, not $30 . By the way, corruption has almost become a culture in government, and it happens in any country, not just yours.

Yes I know it is hard for most people to believe it, but it is true that this is not a typo. My salary was “30$” and not 300$, and this meager salary becomes less day by day and loses its value due to inflation.

People who have not lived in developing countries will find it hard to believe a lot of things happen here because they are not used to such things, rich people here never pay taxes, they pay bribes to big politicians to protect them and so they control everything in reality.

[jaberwock]

The issue of global warming due to glass buildings and increasing pollution resulting from more and more factories owned by the rich maybe is indeed true.

But I don't want to cover up the fact that those rich people have also helped in expanding employment opportunities. Many people depend on their company. And even many ordinary people turn rich when they work in companies that make their financial stability better over time. So I think everything has its positive and negative sides.

I don't think using a glass in a building is what causes a global warming but I can believe it more if you said they are using wood because they need to cut trees to produce it. A factory is still needed to produce a large quantity of product and the hazards that they emit can also contribute to the global warming.

But, I think talks like this are more in the environment already and not in the economy. When it comes to the economy, indeed a billionaire can both be helpful and can be damaging to the economy. It still possible to work on our own without depending on those billionaires. Being independent can also give us a higher chance of becoming wealthy because our income will not be limited.

[usekevin]

If the people is poor,it may be due to two different reason.One is their old generation was poor and not try to uplift their children to the next level.Second one is their children try to uplift their life but due some capitalism and capitalist policies.The second generation also in the poor condition,to over come this.The third generation should try their maximum to uplift their life to the next level.

[Davidvictorson]

My issue with Billionaires is that they tend to accumulate wealth and slow the overall flow of money through the economy. Their excessive wealth has no benefit to the economy. If these Billionaires would give at least half of their money back to their employees, it would give the economy a huge stimulus but do they do this? No, they don't. They are rather bent on hiring and firing(Mark Zuckerberg of Facebook and Elon Musk when he bought Twitter). The fact is that the one's who boost the economy are the Small and medium sized companies. The SMEs companies are the ones that create jobs not billionaires.

[topbitcoin]

Why are they rich? Why are we poor? And why do people prefer to lose to each other in terms of material and fame?
I find it funny to point out the reason that it may be wrong right from the moment we ask the problem, the problems in life have many different shades, and an invisible law is always present around. around us is its balance. As some of the stories have stated, it's just a small part of all that's going on, I don't like to blame when we're at a lower level without understanding what their position is going through.
I am a person who loves equality and justice in life, so I realize the problem is that it is so, so how to turn negative things into positive, and increase more positive things in life.

The thing you need to echo is equality in the right of justice as a human, I think what he tries to explain is like that, but refers to a different level of life. When talking about rights, someone has the right to become a leader, someone has the right to become a billionaire and the other, it is a right as a human being so you cannot equalize something that you really are unable to do or achieve that.
In the economy there is an ecosystem that is quite complex, and everything has also been set well in the structure of everyone's obligations, if you want to be viewed everything is equivalent, are you ready to pay taxes with the number of billionaire issued (instead of equal)? or vice versa? It becomes confusion, about justice does not mean all equally.

[TheGreatPython]

I think most people forget one of the biggest contributions that Billionaires bring to the economy, namely : Job creation

You mentioned that they only contribute 3% to the taxes of a country, but how much is 3% of say 5 Billion Dollars... for only 1 person. How many services can be paid by that contribution and how many government salaries can be paid by that. 

They also create a lot of jobs in the private sector and those people also pay taxes and that money is also being used to fund projects in the public sector. 

I was thinking about the same thing, those who have a lot of money usually create big companies and businesses and those businesses require employees, so they hire people who deserve to be hired and they also hire those who are poor to do the labor work and stuff, so rich people actually contribute a lot to the economy not only by paying taxes but also by producing more money with their money and more money will obviously mean more taxes.

So I don't believe in theories that prove that the rich have a negative impact on an economy because that is not true. There's one more thing, rich people create things like hotels, restaurants, wonderlands, etc. And these places make a city or a country more attractive to tourists which is another source for the government to get more revenue.

[kaseygriffin]

I am a person who loves equality and justice in life, so I realize the problem is that it is so, so how to turn negative things into positive, and increase more positive things in life.

<>The egalitarian society that is conceived by some social philosophers seem not to be near achievement because opportunities keep pushing the rich and poor apart.

I think more simply because life inherently has many different nuances, what we want, it will come closer to us. But the mundane laws of life are always erratic and they seem like a loop and we're stuck in it, the social equality we've achieved with some parts, then it degenerates and changes shape over time and gradually disappears, then people find themselves too wrong and then look for that equality in life. Everything we do creates new results whether we like it or not, it goes on forever until we really need to stop, so the ideal of life that I have learned through many experiences is try to live right and leave the wrong, also want to spread to many other people a positive outlook on life.

[FanEagle]

I have to say the biggest trouble with this is the numbers difference. In order to have 1000 people with at least a billion, and of course a lot more, that requires billions of people to be not rich. I am not saying lets all be communist and live with the same wage and all that, of course that is not the case and that will never be the case and that is a dumb thing to ask for. But, what if all the health things, from simple flu to hardest cancer, every single health thing was free? What if all of education, from worst to best, all of them were free? And got the students based on their test scores alone, ALL FREE. What if housing and food were free?

Not saying lets all eat lobsters, but if you can afford your own food buy it, if you can't then government gives everyone who can't afford food for free, something simple, like rice and pasta and so forth cheap stuff but at least it feeds them, nobody sleeps hungry ever again. These are simple stuff, and can be done, and billionaires are the ones who prevent that.

[southerngentuk]

According to my observations, billionaires have a strong impact on the direction of starting a business, focusing on the motive of making money in parallel with the search for high added value at all levels. Their contributions are impressive, and the dynamism and competition of this bloc have created pressure to change the way the state sector does business. So no one can deny their real business talent. Society needs to recognize, cherish, and appreciate such entrepreneurial talent. Otherwise, we will stifle the momentum of society. Besides, these billionaires inspire young people to strive. That is good news because the very emergence of this class creates pressure to promote social capacity reforms to meet that need. These reforms bring mutual benefits, like fragrance, and spread values to the whole society.

[Cling18]

According to my observations, billionaires have a strong impact on the direction of starting a business, focusing on the motive of making money in parallel with the search for high added value at all levels. Their contributions are impressive, and the dynamism and competition of this bloc have created pressure to change the way the state sector does business. So no one can deny their real business talent. Society needs to recognize, cherish, and appreciate such entrepreneurial talent. Otherwise, we will stifle the momentum of society. Besides, these billionaires inspire young people to strive. That is good news because the very emergence of this class creates pressure to promote social capacity reforms to meet that need. These reforms bring mutual benefits, like fragrance, and spread values to the whole society.

Billionaires play a vital role in the society. They are actually one of the foundations of the economy. They provide jobs and they support the government through their taxes. They are the strongest support of businesses in each country. Without them, the economy will surely have a hard time surviving different tests of time. No wonder why they are always treated better by the government because they are actually the life support of the economy.
I agree that they are also the inspiration and motivation of the younger generation even the us, adults. Everyone wants to be billionaires and they should really be our role models since they're successful in their own fields.

[Accardo]

It's funny how people will always speak positively about the billionaires and don't think about why then do people suffer? If billionaires help improve the economy why is everything going wrong on earth? Billionaires work closely with Government officials yet they don't bother about the people or citizens or even their customers who made them the billionaires. Quite ok, they pay salaries to people, but they add no extra funds to cover for their taxes knowing that the workers will be taxed by the government. Rich gets richer and the poor gets poorer, because they keep slaving for the rich. Recently, everyone is blaming Bill gates for the outbreak of malaria in Florida, if it's true, we all know how much money he'd gather for providing the vaccines used in treating ill citizens. Everyone thinks about the front and forget completely the back side of rich people. Billionaires invest more in war and crisis than in schools, employees and well being of the people. It takes a lot to become a billionaire and that shouldn't strike the thought of poor men envying the billionaires or blaming them for their condition. The world is a collective effort of people, the poor madee the rich who they're today, the average men buy their services and patronize them everyday. Hence, without the poor men they'll be no rich man. People work hours and get paid peanuts yet blamed for not being industrious or starting their own business. We must understand that satisfaction is not guaranteed, nobody get satisfied of whatever thing they've got including the billionaires that's why, they do everything possible to maintain their position. Don't forget that the billionaires can also end up poor and broke before they die, don't see them as gods or super men, one mistake and they're gone to nothing. In a nutshell, we shouldn't claim that what OP said is not happening.

[Framelover]

In short, billionaires are bad for the economy. How bad? Check out these top four ways:


1. Extreme wealth and poverty are rising simultaneously for the first time in decades
Now more than ever, workers are struggling to pay their bills, buy their groceries, and support their families because inflation is skyrocketing across the world. Corporations are raising the prices on goods, not because they have to, but because it increases the payouts for their shareholders. This lines the pockets of the ultra-wealthy while forcing more people into poverty.

Last year, 95 food and energy corporations doubled their company profits. Instead of investing that money in their employees, they paid $257 billion to their already rich shareholders. In the backdrop of this outrageous corporate greed, 1.7 billion workers live in countries where inflation now outpaces wages.

To say that the increase in poverty is primarily due to billionaires' wealth is excessively simple. Poverty is caused by a number of things, such as systemic problems, economic policies, and possibilities for employment. Blaming only the wealthiest people ignores how complicated the issue is.

2. American billionaires are 33% richer than they were at the start of the pandemic
In 2020, the US experienced the worst economic growth since World War II. Much of the country felt this burden, especially marginalized groups, but the top 1% did not struggle. Instead, they became significantly richer.

This is possible because, for decades, the system has been rigged in favor of the rich. Labor laws, CEO compensation, the privatization of public assets, and much more are skewed toward making the rich richer. This leaves little protection and support for the average person, putting them in a vulnerable position.

There are many other elements outside merely the behavior of billionaires that might affect economic growth and wealth accumulation. It's essential to examine the broader economic landscape and structural inequalities to understand the disparities. Additionally, some billionaires actively support charitable causes and social causes, having a good influence on society.

3. Billionaires are contributing a million times more carbon to the atmosphere than the average person
People across the globe are facing dangerous climate change events, such as severe hurricanes, flash floods, and wildfires because billionaires are making climate change rapidly worse. In fact, 125 of the world’s richest billionaires invest so much money in polluting industries that they are responsible for emitting an average of 3 million carbon tons a year. The more they invest in fossil fuels, the more they protect the use of them, no matter how much the rest of the world suffers in response.

It is unfair to solely blame billionaires for climate change. Addressing climate change requires collective efforts from individuals, corporations, and governments. Many billionaires have shown commitment to renewable energy and sustainability initiatives, while others are actively investing in climate solutions. Do your research and you'll find this.

4. The super-rich are taxed at a dangerously low rate
Billionaires paid a low tax rate of 3% while most people with less money, like nurses and teachers, paid far more. If multi-millionaires paid a 2-3% wealth tax rate and billionaires paid a 5% wealth tax rate globally, it would raise $1.7 trillion a year. This money could be used for underfunded social programs, environmental policies, and economic programs. This would reduce the stress of necessities like the cost of childcare and healthcare.

With this tax rate, 2 billion people could be lifted out of poverty. We need to reduce inequality to end poverty and injustice. Increasing taxation up to 5% for the richest people in the world would be a strong step toward equality

The focus should be on improving the effectiveness of tax systems generally rather than targeting billionaires specifically.

CONCLUSION
Everyone want to become a billionaire and it's a good thing to become one but what will be your impart to your community, nation or the world if you become a billionaire today. People like Warren Buffett, Chuck Feeney, Oprah Winfrey and many more can not be forgotten for their impart on the society. Only few billionaires are ready to help. To solve the issue posted on the economy by the billionaires, the followings can be done

👉👉Reducing the rising levels of global inequality and more billionaire-busting policies should be created.

👉👉Wide-ranging increases in taxation of the super-rich, and we call on world governments to tax multi-millionaires and billionaires

👉👉Creation of total education, full employment and health care facilities for the masses.

While valid concerns exist, it is important to acknowledge that the global economy's current state is not completely influenced by the choices made by the wealthiest individuals. In order to resolve these complex issues and advance humanity, collaboration between organizations including governments, corporations, and people at large is crucial.

[Framelover]

It's funny how people will always speak positively about the billionaires and don't think about why then do people suffer? If billionaires help improve the economy why is everything going wrong on earth? Billionaires work closely with Government officials yet they don't bother about the people or citizens or even their customers who made them the billionaires. Quite ok, they pay salaries to people, but they add no extra funds to cover for their taxes knowing that the workers will be taxed by the government. Rich gets richer and the poor gets poorer, because they keep slaving for the rich. Recently, everyone is blaming Bill gates for the outbreak of malaria in Florida, if it's true, we all know how much money he'd gather for providing the vaccines used in treating ill citizens. Everyone thinks about the front and forget completely the back side of rich people. Billionaires invest more in war and crisis than in schools, employees and well being of the people. It takes a lot to become a billionaire and that shouldn't strike the thought of poor men envying the billionaires or blaming them for their condition. The world is a collective effort of people, the poor madee the rich who they're today, the average men buy their services and patronize them everyday. Hence, without the poor men they'll be no rich man. People work hours and get paid peanuts yet blamed for not being industrious or starting their own business. We must understand that satisfaction is not guaranteed, nobody get satisfied of whatever thing they've got including the billionaires that's why, they do everything possible to maintain their position. Don't forget that the billionaires can also end up poor and broke before they die, don't see them as gods or super men, one mistake and they're gone to nothing. In a nutshell, we shouldn't claim that what OP said is not happening.

It is true that there are valid concerns regarding the actions and priorities of billionaires, but it's also important to recognize that not all billionaires behave in the same manner. Some billionaires have made positive contributions to various cases, positively impacting people's lives. It is important to maintain a balanced perspective and acknowledge the complexities and varying perspectives involved in discussions about billionaires and their influence on the world.

[Andrija Branislav]

4. The super-rich are taxed at a dangerously low rate
Billionaires paid a low tax rate of 3% while most people with less money, like nurses and teachers, paid far more. If multi-millionaires paid a 2-3% wealth tax rate and billionaires paid a 5% wealth tax rate globally, it would raise $1.7 trillion a year. This money could be used for underfunded social programs, environmental policies, and economic programs. This would reduce the stress of necessities like the cost of childcare and healthcare.

With this tax rate, 2 billion people could be lifted out of poverty. We need to reduce inequality to end poverty and injustice. Increasing taxation up to 5% for the richest people in the world would be a strong step toward equality

The focus should be on improving the effectiveness of tax systems generally rather than targeting billionaires specifically.

Maybe, generally the opinion of those people will widen the social and economic center of attention. Yeah. The focus should be on increasing the effectiveness of the tax system as you wrote,  and in my view it is very logical if the government is a bit calculating if the taxes set against them can have a negative impact on economic growth and investment. But, Just wait the time, the game can be reversed at any time. The government has its own way of doing this.

[bussybuddy]

1. Extreme wealth and poverty are rising simultaneously for the first time in decades

The imbalance is really disturbing because it is this part that causes other major problems in society as it is part of war, looking back in history parts have taken place in the process. Past social problems such as class disparity are also the reason leading to the overthrow of the government. So I also think about whether people who only look at self-interest can imagine the broader problem with our society, our economy over time with different ups and downs, scientific problems, and so on. Today's technology gives us the feeling that everything is really great, but it's clear that this imbalance will lead us to self-destruct.

[Nwada001]

1. Extreme wealth and poverty are rising simultaneously for the first time in decades

The imbalance is really disturbing because it is this part that causes other major problems in society as it is part of war, looking back in history parts have taken place in the process. Past social problems such as class disparity are also the reason leading to the overthrow of the government. So I also think about whether people who only look at self-interest can imagine the broader problem with our society, our economy over time with different ups and downs, scientific problems, and so on. Today's technology gives us the feeling that everything is really great, but it's clear that this imbalance will lead us to self-destruct.

One of the problems faced by many in society today is channeling their problems to others, always looking for someone to blame as the major reason why they are unable to make a living. If you support the motion that states that rice is the major reason why most citizens are poor, why not be part of the rich, which people are talking about, if you could make a difference?
 
I Know there is a level of unfairness in some societies where the rich are considered powerful and they use their power to manipulate things, especially their businesses, but that did not stop anyone from getting rich. Every business person will want to do whatever's going to make his or her business a success, and you as an individual also have that option. You can either choose to do nothing and remain poor, using your time to blame the rich, or you can find your way in society and make something out of yourself.

[bussybuddy]

1. Extreme wealth and poverty are rising simultaneously for the first time in decades

The imbalance is really disturbing because it is this part that causes other major problems in society as it is part of war, looking back in history parts have taken place in the process. Past social problems such as class disparity are also the reason leading to the overthrow of the government. So I also think about whether people who only look at self-interest can imagine the broader problem with our society, our economy over time with different ups and downs, scientific problems, and so on. Today's technology gives us the feeling that everything is really great, but it's clear that this imbalance will lead us to self-destruct.

One of the problems faced by many in society today is channeling their problems to others, always looking for someone to blame as the major reason why they are unable to make a living. If you support the motion that states that rice is the major reason why most citizens are poor, why not be part of the rich, which people are talking about, if you could make a difference?
 
I Know there is a level of unfairness in some societies where the rich are considered powerful and they use their power to manipulate things, especially their businesses, but that did not stop anyone from getting rich. Every business person will want to do whatever's going to make his or her business a success, and you as an individual also have that option. You can either choose to do nothing and remain poor, using your time to blame the rich, or you can find your way in society and make something out of yourself.

In the immediate future we are not talking about our ability and extent to which we can do what changes society , simply change ourselves first, like people like to change their mistakes without I like to admit my mistakes. Many things in life are unfair, but that doesn't mean we wait for someone to give us an opportunity, I'm not the type to think in the direction of waiting for things to come to them, those things already happen show up and we need to go there. The imbalance between the rich and the poor may be partly a moral issue that gives rise to greed and competition, so the misperception imparted by society or generation is partly for that, I know that if we We have enough knowledge and sanity to always appreciate what needs to be done in life.

[Accardo]

It's funny how people will always speak positively about the billionaires and don't think about why then do people suffer? If billionaires help improve the economy why is everything going wrong on earth? Billionaires work closely with Government officials yet they don't bother about the people or citizens or even their customers who made them the billionaires. Quite ok, they pay salaries to people, but they add no extra funds to cover for their taxes knowing that the workers will be taxed by the government. Rich gets richer and the poor gets poorer, because they keep slaving for the rich. Recently, everyone is blaming Bill gates for the outbreak of malaria in Florida, if it's true, we all know how much money he'd gather for providing the vaccines used in treating ill citizens. Everyone thinks about the front and forget completely the back side of rich people. Billionaires invest more in war and crisis than in schools, employees and well being of the people. It takes a lot to become a billionaire and that shouldn't strike the thought of poor men envying the billionaires or blaming them for their condition. The world is a collective effort of people, the poor madee the rich who they're today, the average men buy their services and patronize them everyday. Hence, without the poor men they'll be no rich man. People work hours and get paid peanuts yet blamed for not being industrious or starting their own business. We must understand that satisfaction is not guaranteed, nobody get satisfied of whatever thing they've got including the billionaires that's why, they do everything possible to maintain their position. Don't forget that the billionaires can also end up poor and broke before they die, don't see them as gods or super men, one mistake and they're gone to nothing. In a nutshell, we shouldn't claim that what OP said is not happening.

It is true that there are valid concerns regarding the actions and priorities of billionaires, but it's also important to recognize that not all billionaires behave in the same manner. Some billionaires have made positive contributions to various cases, positively impacting people's lives. It is important to maintain a balanced perspective and acknowledge the complexities and varying perspectives involved in discussions about billionaires and their influence on the world.

Of course almost all positivity got negativity as well. Similarly to the billionaires who didn't make it to the Forbes list, many of them became billionaires by hurting the economy of this world through hazardous practices. The good billionaires with the interest of the people at hand deserves accolades, but I think only a few number of them exists. Since the quest for money never ends, I always expect more billionaires that causes havoc in the economy to erupt.

[woez]

I Know there is a level of unfairness in some societies where the rich are considered powerful and they use their power to manipulate things, especially their businesses, but that did not stop anyone from getting rich. Every business person will want to do whatever's going to make his or her business a success, and you as an individual also have that option. You can either choose to do nothing and remain poor, using your time to blame the rich, or you can find your way in society and make something out of yourself.

But, also remember that the taller the tree the stronger the wind. indeed they are dominant in all respects. but, they have weak points as well. and don't think they're always happy. Take a look at entrepreneurs who are constrained and late in paying when it comes to ordering goods/services, the sound of a telephone ring sometimes feels uncomfortable. I think they have A not necessarily have B.

[Nwada001]

I Know there is a level of unfairness in some societies where the rich are considered powerful and they use their power to manipulate things, especially their businesses, but that did not stop anyone from getting rich. Every business person will want to do whatever's going to make his or her business a success, and you as an individual also have that option. You can either choose to do nothing and remain poor, using your time to blame the rich, or you can find your way in society and make something out of yourself.

But, also remember that the taller the tree the stronger the wind. indeed they are dominant in all respects. but, they have weak points as well. and don't think they're always happy. Take a look at entrepreneurs who are constrained and late in paying when it comes to ordering goods/services, the sound of a telephone ring sometimes feels uncomfortable. I think they have A not necessarily have B.

I never said the Rich are immune, nor did I say they don't have weak points; we all do. In fact, I believe everyone has issues and things that make them feel uncomfortable. Even the richest person in the world today won't say they are 100% comfortable or don't have a single problem that gives them extra thinking. But the problem of those who always think everything is wrong because the rich seem to be getting richer and putting all their blame on people who are doing their best to grow their business to the next level, those set of people have bigger problems in society.
 
We as humans have roles to play in order for us to be wherever we want to be in the near future. It's beyond just sitting and blaming others for our failure without any proper data to prove those claims, which seem to be mere assumptions.
 
 

[Alpha Marine]

This is so one sided. It's too bias. You mentioned all the negative impact of billionaires in the economy but you purposely refused to state the positive impact just to suit your agenda.

How are you criticizing people because they're rich?
If you were giving the opportunity to be a billionaire you won't take it? You're outrightly blaming people for being rich. It's capitalism. If you can take advantage of a bad situation and make things work out for you then fine.
Billionaires are not the only ones that have gotten richer during this period, some normal folks too have discovered ways to make certain things work for them.
If a billionaire doesn't want to give back to the community, then there's no law against him, it's his money and he'll use it however he see fit. They're not your government and they're most definitely not spending public funds.

[serjent05]

This is so one sided. It's too bias. You mentioned all the negative impact of billionaires in the economy but you purposely refused to state the positive impact just to suit your agenda.

Billionaires dictates the economy of a country. Obviously, these billionaires don't want their milking cows to be independent so they will do things according to what result they wanted.  These billionaies even hoard materials and foods to the point of spoiling them just to make sure the price of commodities don't plummet.  Indeed they do some charities but these charities are just the frontal act of kindness to hide their not-so-good activities behind.

One example is the scholarship given by one of the tycoons here in our country.  They do this thing because those who give scholarship to students are somehow exempted from taxation.  By doing this charity this billionaire evades taxes which makes the government lose more.

[Cryptomultiplier]

Just as whales could affect the economy by making moves to get the market attention, that's how billionaires affect the economy too.
They are priority compared to other rich people who have more estate investment or other forms.
I'm all truth however, but the CBN of a country has the highest financial investment and actually dictates economy in a financial state.

[AnonBitCoiner]

I don't think that Billionair effects he economy but the economy is effected by the loans which the government are taking from other countries. The imbalance between the wealthy and poor people are just because of their income and their state.
Billionair can put positive impacts like if there is more Billionaires then inflation will be reduces also some Billionaires are officers in some offices which provides an opportunity for other people to get good revenue for the better life.
As you mentioned that Billionair are contributing more carbon to air so investing money in air polluting industry will also have some benefit because there is nothing which possess dangers things only. We should remember both beneficial and harmful effects as Billionair put money in these industries so these industries will surely gives outcomes which will be in favor of humans.

[superman184]

Just as whales could affect the economy by making moves to get the market attention, that's how billionaires affect the economy too.
They are priority compared to other rich people who have more estate investment or other forms.
I'm all truth however, but the CBN of a country has the highest financial investment and actually dictates economy in a financial state.

They (the whales) can indeed be the initial movers in economic matters because the amount of money they use to influence the economy is also very large, making it difficult for people who are not so rich to reach. Apart from that, they are also often investors in several assets in different areas so that this can also have an impact on the economy even though they are not always decisive in the market. Countries also always watch the movements of billionaires in this world to find out which sector they will anchor in so they can make mutually beneficial cooperation.

[dothebeats]

I think most people forget one of the biggest contributions that Billionaires bring to the economy, namely : Job creation

You mentioned that they only contribute 3% to the taxes of a country, but how much is 3% of say 5 Billion Dollars... for only 1 person. How many services can be paid by that contribution and how many government salaries can be paid by that. 

They also create a lot of jobs in the private sector and those people also pay taxes and that money is also being used to fund projects in the public sector. 

Exactly. These billionaires are opening businesses that gives us an opportunity to work. They are literally the biggest contributor for the working class as they are the ones to provide us with, well, work.

As for the discussion about the taxes, they may be issues regarding this matter, but we can't ignore the fact that even 3% of a billionaire's taxes amount to so much already.

[Fortify]

Millions of people are being forced deeper into poverty as the ultra-rich increase their wealth. People in the US and around the world struggle to pay the high costs of food, gas, and other necessities, yet over the past two years, the richest 1% have secured nearly twice as much wealth as the rest of the world combined. How is this possible?
Most people believe billionaires are there to help the economy, this is a total NO in most cases. Their very billions are earned because of cheap labor, and cheap labor is available because of poverty. More poverty creates more billionaires. They are rich because they utilze the opportunities coming from developing and poor nations.

In short, billionaires are bad for the economy. How bad? Check out these top four ways:

Ultimately in a capitalist based society there will always be some people at the super rich end of the spectrum, however it does feel like wealth has gotten more out of whack in the last couple centuries. It's hard to find a balance though, because you need strong laws that push back on wealth at the expense of society and those laws need to be carefully crafted to prevent the endless assault of accountants who minimize profits on paper but cash out vast amounts to the owners. Globalization has also made it extremely hard to make sure the richest are paying their fair share, because they can often threaten (or do already in reality) to move their money elsewhere and reduce the already pitiful tax amounts they pay.

[Texac]

I think most people forget one of the biggest contributions that Billionaires bring to the economy, namely : Job creation

You mentioned that they only contribute 3% to the taxes of a country, but how much is 3% of say 5 Billion Dollars... for only 1 person. How many services can be paid by that contribution and how many government salaries can be paid by that. 

They also create a lot of jobs in the private sector and those people also pay taxes and that money is also being used to fund projects in the public sector. 

Exactly. These billionaires are opening businesses that gives us an opportunity to work. They are literally the biggest contributor for the working class as they are the ones to provide us with, well, work.

As for the discussion about the taxes, they may be issues regarding this matter, but we can't ignore the fact that even 3% of a billionaire's taxes amount to so much already.

The role of billionaires for the working class is important because they are the creators of jobs.  but there are some parts that are ignorant and always think that billionaires are extracting and exploiting their labor.  billionaires do not force us to work for them, if we are not satisfied with the salary they pay us, we have the right to refuse the job and open our own business.  If we don't want to be exploited by them, let's find a way to get rich like them so that we won't be treated unfairly, don't just complain about the unfair government and hide our uselessness.

[Poker Player]

Exactly. These billionaires are opening businesses that gives us an opportunity to work. They are literally the biggest contributor for the working class as they are the ones to provide us with, well, work.

As for the discussion about the taxes, they may be issues regarding this matter, but we can't ignore the fact that even 3% of a billionaire's taxes amount to so much already.

The role of billionaires for the working class is important because they are the creators of jobs.  but there are some parts that are ignorant and always think that billionaires are extracting and exploiting their labor.  billionaires do not force us to work for them, if we are not satisfied with the salary they pay us, we have the right to refuse the job and open our own business.  If we don't want to be exploited by them, let's find a way to get rich like them so that we won't be treated unfairly, don't just complain about the unfair government and hide our uselessness.

Those who advocate the opposite have a conception of wealth as something static, like a pie, so that if billionaires have more of the pie, there is less for the rest. They fail to understand that wealth is something dynamic and that the most prosperous societies are those where there are many rich, not those where the anti-rich discourse triumphs, and which end up with a worse inequality between rich and poor, but in this case between the ruling political class and their cronies, which is very rich, and the rest of the population, which suffers hunger and hardship.

[lixer]

This is so one sided. It's too bias. You mentioned all the negative impact of billionaires in the economy but you purposely refused to state the positive impact just to suit your agenda.

How are you criticizing people because they're rich?
If you were giving the opportunity to be a billionaire you won't take it? You're outrightly blaming people for being rich. It's capitalism. If you can take advantage of a bad situation and make things work out for you then fine.
Billionaires are not the only ones that have gotten richer during this period, some normal folks too have discovered ways to make certain things work for them.
If a billionaire doesn't want to give back to the community, then there's no law against him, it's his money and he'll use it however he see fit. They're not your government and they're most definitely not spending public funds.

Well, if we don't talk about ethical values and what one should do if they have a lot of money, you are right that they are not obliged to do anything for society if they don't want to, no one, even the government, can't force them to spend their money for the betterment of the society or the economy because it is not their job to do that but it's government's, so apart from the taxes that the government needs to impose on them, there's nothing they can do to get money out of their pockets.

The positive impact that they have on the economy is that they have big industries, factories, and workplaces, and that creates a lot of job opportunities for the people living in that economy, which directly relieves the stress of the government to reduce unemployment within the country.

[CryptoHeadlineNews]

Millions of people are being forced deeper into poverty as the ultra-rich increase their wealth. People in the US and around the world struggle to pay the high costs of food, gas, and other necessities, yet over the past two years, the richest 1% have secured nearly twice as much wealth as the rest of the world combined. How is this possible?
Most people believe billionaires are there to help the economy, this is a total NO in most cases. Their very billions are earned because of cheap labor, and cheap labor is available because of poverty. More poverty creates more billionaires. They are rich because they utilze the opportunities coming from developing and poor nations.

In short, billionaires are bad for the economy. How bad? Check out these top four ways:

You just need to know that billionaires are business men, and the aim of every business man will always be to make profits and not the well-being of people liviting in that locality or region as that's the work of the government, not individual  business men. So if the state of a country's economy is not in other, the only people to blame are the politicians in power embezzling public funds

[xSkylarx]

Millions of people are being forced deeper into poverty as the ultra-rich increase their wealth. People in the US and around the world struggle to pay the high costs of food, gas, and other necessities, yet over the past two years, the richest 1% have secured nearly twice as much wealth as the rest of the world combined. How is this possible?
Most people believe billionaires are there to help the economy, this is a total NO in most cases. Their very billions are earned because of cheap labor, and cheap labor is available because of poverty. More poverty creates more billionaires. They are rich because they utilze the opportunities coming from developing and poor nations.

In short, billionaires are bad for the economy. How bad? Check out these top four ways:

You just need to know that billionaires are business men, and the aim of every business man will always be to make profits and not the well-being of people liviting in that locality or region as that's the work of the government, not individual  business men. So if the state of a country's economy is not in other, the only people to blame are the politicians in power embezzling public funds

There are still businessmen that are into both the welfare of the people and profit at the same time, but mostly they are into profit, which again is business without profit, it won't be running. Also, it is not always the duty of the government to provide you with good wellbeing; it is also your duty to do it. Stop relying on the government, as for sure you'll be struggling, and you know right now corruption is everywhere, so your duty is to find and elect good politicians to help grow the country's economy.

[Wimex]

I think you forgot to consider that Billionaires are the one who provides job and services to normal people. It’s not their problem if they are getting most of the wealth because their business.

The Government fiat is the real problem and the reason that affects the economy badly. They keep printing money while they didn’t give much value on the services provided by the workers. This is the reason why Billionaires keeping up on earning while normal worker is struggling because their services value doesn’t increase.

or could these people with sufficient conditions to change this system contribute something more than providing employment, such as giving generous salaries instead of focusing on getting rich valuing the efforts of their workers, and in this way making the world more equitable by reducing poverty..  It is true that governments do not contribute anything to avoid the need that many citizens have to live with but these people who if they have the conditions to help do not do it, why?  they are simply not interested, their only focus is to grow and if they see that someone does not contribute to thethat growth they fire them regardless of the circumstances in which they live in this world despite the fact that they seem to want to contribute to society, they continue to look out for their own interests and when they are harmed they will throw anyone into the fire this is why both the rich since governments are actually the problem, both are to blame for both economic stability and the growth of poverty.

[Fakhrulenclix]

I think you forgot to consider that Billionaires are the one who provides job and services to normal people. It’s not their problem if they are getting most of the wealth because their business.

The Government fiat is the real problem and the reason that affects the economy badly. They keep printing money while they didn’t give much value on the services provided by the workers. This is the reason why Billionaires keeping up on earning while normal worker is struggling because their services value doesn’t increase.

or could these people with sufficient conditions to change this system contribute something more than providing employment, such as giving generous salaries instead of focusing on getting rich valuing the efforts of their workers, and in this way making the world more equitable by reducing poverty..  It is true that governments do not contribute anything to avoid the need that many citizens have to live with but these people who if they have the conditions to help do not do it, why?  they are simply not interested, their only focus is to grow and if they see that someone does not contribute to thethat growth they fire them regardless of the circumstances in which they live in this world despite the fact that they seem to want to contribute to society, they continue to look out for their own interests and when they are harmed they will throw anyone into the fire this is why both the rich since governments are actually the problem, both are to blame for both economic stability and the growth of poverty.

They are actually realistic, it's impossible to overpay many people or just some people, maybe I think because being able to create jobs is one of the factors that makes the difference between iliaders and ordinary people and because it makes them have little influence on the economy, apart from that it will be profitable for them too because realistically every human being will continue to seek money or profits even though they are already very rich.
However, it cannot be denied that the government's role is very large in regulating policies for workers such as wage standards or other things, this has a big influence on economic changes for you people from the lower classes.

[dothebeats]

I think you forgot to consider that Billionaires are the one who provides job and services to normal people. It’s not their problem if they are getting most of the wealth because their business.

The Government fiat is the real problem and the reason that affects the economy badly. They keep printing money while they didn’t give much value on the services provided by the workers. This is the reason why Billionaires keeping up on earning while normal worker is struggling because their services value doesn’t increase.

or could these people with sufficient conditions to change this system contribute something more than providing employment, such as giving generous salaries instead of focusing on getting rich valuing the efforts of their workers, and in this way making the world more equitable by reducing poverty..  It is true that governments do not contribute anything to avoid the need that many citizens have to live with but these people who if they have the conditions to help do not do it, why?  they are simply not interested, their only focus is to grow and if they see that someone does not contribute to thethat growth they fire them regardless of the circumstances in which they live in this world despite the fact that they seem to want to contribute to society, they continue to look out for their own interests and when they are harmed they will throw anyone into the fire this is why both the rich since governments are actually the problem, both are to blame for both economic stability and the growth of poverty.

They are actually realistic, it's impossible to overpay many people or just some people, maybe I think because being able to create jobs is one of the factors that makes the difference between iliaders and ordinary people and because it makes them have little influence on the economy, apart from that it will be profitable for them too because realistically every human being will continue to seek money or profits even though they are already very rich.
However, it cannot be denied that the government's role is very large in regulating policies for workers such as wage standards or other things, this has a big influence on economic changes for you people from the lower classes.

I agree about your statement on the government's role. People tend to direct their anger towards the rich/billionaires that they forget the role of the government in such matter. There are a lot of instances where the company that people are working for are tied down by the policies given by the government they are under. For example, in my country there is an age limit for people to continue working, so despite the very company wanting to keep their old employees on board, they cannot do so because of the policies given by the government which will cause problems to them.

[adiksau0414]

I also dreamed to be a billionaire, (Who will refuse this?). But as i watched the lives of some millionaires and billionaires and their family, there are always conflicts, problems and other factor that giving them a hard life. Yes, i believe they affecting the economy either good or bad. But this balance is needed for our economy pursue.

[livingfree]

I also dreamed to be a billionaire, (Who will refuse this?). But as i watched the lives of some millionaires and billionaires and their family, there are always conflicts, problems and other factor that giving them a hard life.

You choose what's hard for you.

These billionaires and millionaires have got their own hard life because of the finances and other obligations that they've got. While many poor people have their own hard lives as well but it's all due to how they're going to survive on this life.

This just only means that everyone regardless of the status of life has their own hardships.

Yes, i believe they affecting the economy either good or bad. But this balance is needed for our economy pursue.

It is a sad truth that we need to extract. There are people that hates these billionaires and other rich people but can't be denied with their contributions on an economy.

[Minecache]

I also dreamed to be a billionaire, (Who will refuse this?). But as i watched the lives of some millionaires and billionaires and their family, there are always conflicts, problems and other factor that giving them a hard life.

You choose what's hard for you.

These billionaires and millionaires have got their own hard life because of the finances and other obligations that they've got. While many poor people have their own hard lives as well but it's all due to how they're going to survive on this life.

This just only means that everyone regardless of the status of life has their own hardships.

Life is like that, whether rich or poor, everyone will have their own difficulties and sufferings. But the rich will still have a much better life than the poor. Nowadays, as long as we have money, there is nothing that we cannot have or cannot do. Therefore, people with money will still have a better life than people without money.

Yes, i believe they affecting the economy either good or bad. But this balance is needed for our economy pursue.

It is a sad truth that we need to extract. There are people that hates these billionaires and other rich people but can't be denied with their contributions on an economy.

Many people hate billionaires because they feel jealous when they can't live like the rich have. Many poor people always feel that life is full of injustice and they always find excuses to blame anyone who is richer than them. And they forget that it is the billionaires who are creating jobs for them.

[Wimex]

I think you forgot to consider that Billionaires are the one who provides job and services to normal people. It’s not their problem if they are getting most of the wealth because their business.

The Government fiat is the real problem and the reason that affects the economy badly. They keep printing money while they didn’t give much value on the services provided by the workers. This is the reason why Billionaires keeping up on earning while normal worker is struggling because their services value doesn’t increase.

or could these people with sufficient conditions to change this system contribute something more than providing employment, such as giving generous salaries instead of focusing on getting rich valuing the efforts of their workers, and in this way making the world more equitable by reducing poverty..  It is true that governments do not contribute anything to avoid the need that many citizens have to live with but these people who if they have the conditions to help do not do it, why?  they are simply not interested, their only focus is to grow and if they see that someone does not contribute to thethat growth they fire them regardless of the circumstances in which they live in this world despite the fact that they seem to want to contribute to society, they continue to look out for their own interests and when they are harmed they will throw anyone into the fire this is why both the rich since governments are actually the problem, both are to blame for both economic stability and the growth of poverty.

They are actually realistic, it's impossible to overpay many people or just some people, maybe I think because being able to create jobs is one of the factors that makes the difference between iliaders and ordinary people and because it makes them have little influence on the economy, apart from that it will be profitable for them too because realistically every human being will continue to seek money or profits even though they are already very rich.
However, it cannot be denied that the government's role is very large in regulating policies for workers such as wage standards or other things, this has a big influence on economic changes for you people from the lower classes.

I agree about your statement on the government's role. People tend to direct their anger towards the rich/billionaires that they forget the role of the government in such matter. There are a lot of instances where the company that people are working for are tied down by the policies given by the government they are under. For example, in my country there is an age limit for people to continue working, so despite the very company wanting to keep their old employees on board, they cannot do so because of the policies given by the government which will cause problems to them.

It depends a lot on how this matter is seen, I am aware that big businessmen cannot go against the government policies maintained by the country where their industry is established, and therefore they are subject to offering their employees what the law establishes, but it seems to me that there are certain people with great wealth and who manage branches worldwide who can contribute with exceptions to the rule..

It is impossible to overpay many people or just some people

For these people who handle large sums of money, I don't think it's impossible, it's just that they could decrease their personal earnings, and therefore avoid doing this. If they study their income well, they could support their employees with additional bonuses for their economic issues, especially when the situation in the country is not very favourable, not all large-scale business owners are thoughtful with this issue, what's more, many exploit and provide zero benefits, these types of people are the ones who, in my opinion, collaborate so that low-income society worsens their situation. Of course I am not saying that they are all, and of course I am not releasing governments from their responsibility to improve the financial stability of communities. I'm just saying that these could contribute in different ways other than just providing employment.

[livingfree]

I also dreamed to be a billionaire, (Who will refuse this?). But as i watched the lives of some millionaires and billionaires and their family, there are always conflicts, problems and other factor that giving them a hard life.

You choose what's hard for you.

These billionaires and millionaires have got their own hard life because of the finances and other obligations that they've got. While many poor people have their own hard lives as well but it's all due to how they're going to survive on this life.

This just only means that everyone regardless of the status of life has their own hardships.

Life is like that, whether rich or poor, everyone will have their own difficulties and sufferings. But the rich will still have a much better life than the poor. Nowadays, as long as we have money, there is nothing that we cannot have or cannot do. Therefore, people with money will still have a better life than people without money.

Yes, definitely.

That's why if we're going to choose what hardship we have to deal with and that's dealing with the problem being a rich person. We're done dealing with the problems of being poor.

We can still survive and have that plenty of money while if we remain poor, we need to think of many problems and as well as the survival about having no money.

Yes, i believe they affecting the economy either good or bad. But this balance is needed for our economy pursue.

It is a sad truth that we need to extract. There are people that hates these billionaires and other rich people but can't be denied with their contributions on an economy.

Many people hate billionaires because they feel jealous when they can't live like the rich have. Many poor people always feel that life is full of injustice and they always find excuses to blame anyone who is richer than them. And they forget that it is the billionaires who are creating jobs for them.

That's normal.

We tend to be jealous of someone's achievement and good way of living because we can't have it yet and it's not happening to us. But as soon as you do understand the cycle of life, you'll be inspired by them, the success they've reached.

[superman184]

I also dreamed to be a billionaire, (Who will refuse this?). But as i watched the lives of some millionaires and billionaires and their family, there are always conflicts, problems and other factor that giving them a hard life. Yes, i believe they affecting the economy either good or bad. But this balance is needed for our economy pursue.

If you dream of becoming a billionaire, then you must really try your best in your own life without having to see conflict in other people's lives. And you also don't need to see the bad side caused by other people's families as long as you yourself haven't done anything that can trigger any conflict in your life. Because as long as you can handle things fairly well, I don't think any kind of conflict can occur for you, nor for anyone else.

So just focus on your own efforts to become a billionaire without having to consider the conflicts that arise in other people's environments because it is a personal thing that might not happen to other people even though they will choose the same path to become a billionaire in their life. Now you only need to see their efforts when they are struggling to become billionaires, not when they experience conflict within a family because of something we may never realize will happen.

[Flexystar]

I also dreamed to be a billionaire, (Who will refuse this?). But as i watched the lives of some millionaires and billionaires and their family, there are always conflicts, problems and other factor that giving them a hard life.

You choose what's hard for you.

These billionaires and millionaires have got their own hard life because of the finances and other obligations that they've got. While many poor people have their own hard lives as well but it's all due to how they're going to survive on this life.

This just only means that everyone regardless of the status of life has their own hardships.

Yes, i believe they affecting the economy either good or bad. But this balance is needed for our economy pursue.

It is a sad truth that we need to extract. There are people that hates these billionaires and other rich people but can't be denied with their contributions on an economy.

I agree to this one because I believe that this is the hard truth in itself. Everyone think being rich is rich and they just get the money out of thin air. Isn’t that is funny as well? I think somewhere in the forum I have read a nice article stating that how rich people are also tangled in the status maintaining challenges. They also have a lifestyle that they need to maintain which is ultimately built from the income source they have.

Indirectly they need to keep the business up and running all the time. They have to feed the salaries, keep business in operation all the time. We should keep down the debate that rich are happy every minute. :-o

[livingfree]

~snip~

I agree to this one because I believe that this is the hard truth in itself. Everyone think being rich is rich and they just get the money out of thin air. Isn’t that is funny as well? I think somewhere in the forum I have read a nice article stating that how rich people are also tangled in the status maintaining challenges. They also have a lifestyle that they need to maintain which is ultimately built from the income source they have.

Indirectly they need to keep the business up and running all the time. They have to feed the salaries, keep business in operation all the time. We should keep down the debate that rich are happy every minute. :-o

Well said.

Before, I think many have the same thinking about the rich people. And that thought that these rich people just got rich and that's it. But upon growing up, we start to understand that these rich people didn't just inherit what they've got now.

Just like us, they've once became a dreamer and just reached it through their means and methods aside from hardworking. There are roots with what they are now especially if you look to the local rich people, you'll connect to their stories and will be inspired by them.

[YUriy1991]

2. American billionaires are 33% richer than they were at the start of the pandemic
In 2020, the US experienced the worst economic growth since World War II. Much of the country felt this burden, especially marginalized groups, but the top 1% did not struggle. Instead, they became significantly richer.

This is possible because, for decades, the system has been rigged in favor of the rich. Labor laws, CEO compensation, the privatization of public assets, and much more are skewed toward making the rich richer. This leaves little protection and support for the average person, putting them in a vulnerable position.

Yes. one of which is that the Covid-19 pandemic has caused a storm, in the form of a world economic recession. Although the rich also feel the same way, the poor, workers and women are the most vulnerable and most comfortable groups. The Covid-19 pandemic and this has become a marker, a turning point, exposing increasing economic tensions between groups.

The stages of his journey In the first months of the pandemic there was indeed a stock market crash that sent billionaires experiencing a dramatic decline in wealth. But, this decline in wealth did not last long. In the following nine months, the fortunes of the top billionaires have recovered. That's because the government's rush of funds to revive the economy allowed the stock market to thrive and revived this group's fortunes, even as the real economy faced its worst recession in a century.

[dothebeats]

~snip~

I agree to this one because I believe that this is the hard truth in itself. Everyone think being rich is rich and they just get the money out of thin air. Isn’t that is funny as well? I think somewhere in the forum I have read a nice article stating that how rich people are also tangled in the status maintaining challenges. They also have a lifestyle that they need to maintain which is ultimately built from the income source they have.

Indirectly they need to keep the business up and running all the time. They have to feed the salaries, keep business in operation all the time. We should keep down the debate that rich are happy every minute. :-o

Well said.

Before, I think many have the same thinking about the rich people. And that thought that these rich people just got rich and that's it. But upon growing up, we start to understand that these rich people didn't just inherit what they've got now.

Just like us, they've once became a dreamer and just reached it through their means and methods aside from hardworking. There are roots with what they are now especially if you look to the local rich people, you'll connect to their stories and will be inspired by them.

I agree with all of your points. Unfortunately, some people will always have the mindset that rich people are the antagonists of their dreams. It's as if they are to be blamed for living the life everyone is dreaming of and having the things everyone is working hard for. The harsh reality however is hating on these billionaires (especially the young ones, since I've been seeing a lot of them getting hate on social media) will not magically lift you up from your economic and social status. Raining on other people's parade will not make yours better.

[bots1]

Of course, billionaires have influence over the economy, and the effects can be complex. Issues such as increasing economic inequality, environmental impact, lower taxes for the super rich, and global inequality need attention. Addressing this problem requires fairer policies, more proportionate taxation, and investment in social programs and education and health facilities for society as a whole.

[bitLeap]

2. American billionaires are 33% richer than they were at the start of the pandemic
In 2020, the US experienced the worst economic growth since World War II. Much of the country felt this burden, especially marginalized groups, but the top 1% did not struggle. Instead, they became significantly richer.

This is possible because, for decades, the system has been rigged in favor of the rich. Labor laws, CEO compensation, the privatization of public assets, and much more are skewed toward making the rich richer. This leaves little protection and support for the average person, putting them in a vulnerable position.

Yes. one of which is that the Covid-19 pandemic has caused a storm, in the form of a world economic recession. Although the rich also feel the same way, the poor, workers and women are the most vulnerable and most comfortable groups. The Covid-19 pandemic and this has become a marker, a turning point, exposing increasing economic tensions between groups.

The rich were still able to survive the pandemic crisis at that time, but if you look at India's death rate due to lockdowns and the government was unable to cope with finances to support economic needs, can you still say that rich people feel the same way? In fact, very rich people can survive in these conditions and can still experience optimal health services. In the post-pandemic economy, the rich can continue their lives because their financial stocks are still abundant, but the poor who have managed to survive only start over from zero.

[flyingcarpet]

2. American billionaires are 33% richer than they were at the start of the pandemic
In 2020, the US experienced the worst economic growth since World War II. Much of the country felt this burden, especially marginalized groups, but the top 1% did not struggle. Instead, they became significantly richer.

This is possible because, for decades, the system has been rigged in favor of the rich. Labor laws, CEO compensation, the privatization of public assets, and much more are skewed toward making the rich richer. This leaves little protection and support for the average person, putting them in a vulnerable position.

Yes. one of which is that the Covid-19 pandemic has caused a storm, in the form of a world economic recession. Although the rich also feel the same way, the poor, workers and women are the most vulnerable and most comfortable groups. The Covid-19 pandemic and this has become a marker, a turning point, exposing increasing economic tensions between groups.

The rich were still able to survive the pandemic crisis at that time, but if you look at India's death rate due to lockdowns and the government was unable to cope with finances to support economic needs, can you still say that rich people feel the same way? In fact, very rich people can survive in these conditions and can still experience optimal health services. In the post-pandemic economy, the rich can continue their lives because their financial stocks are still abundant, but the poor who have managed to survive only start over from zero.

In which current epidemic or a major economic crisis are the rich affected? No one is impressed because they set up their systems accordingly. We live in times when it is easiest to make money with money. If you are below a certain level, your job is very difficult, but after passing a certain level, you will see that things get easier. There is an attempt to eliminate the middle class in the economy. You will either be poor or rich. If you have convinced yourself that you are in the middle class, you are already poor and you cannot see it.

In any event, the self-preservation mechanism of the rich is directly proportional to their economic power. This is why, in the examples given, the wealthy are least affected by such situations.

[EarnOnVictor]

I also dreamed to be a billionaire, (Who will refuse this?). But as i watched the lives of some millionaires and billionaires and their family, there are always conflicts, problems and other factor that giving them a hard life.

You choose what's hard for you.

These billionaires and millionaires have got their own hard life because of the finances and other obligations that they've got. While many poor people have their own hard lives as well but it's all due to how they're going to survive on this life.

This just only means that everyone regardless of the status of life has their own hardships.

Just come off it, I hate it when people praise these rich people too much, it's just a misconception that all of them made it out of hard work, a lot tried better than them but didn't make it. Many of you are just misinformed and judged amiss because they are rich, so why are some rich become poor later? Have they suddenly stopped? No one wants poverty and if you hear the stories of many of these rich people, you will be able to infer grace, luck, hard work, circumstance, family and friends, and environment as what makes them rich. Mind you, some encountered one, two or more of these factors listed, so it's a wrong judgement for concluding that poor people are poor because they are lazy or didn't take steps.

As much as hard work is good, not all who do it are successful, fate also counts here, and even for some people, their riches cames very easily and further use the brain of their employees to be richer or maintain their richess, not hard work.

[Yamifoud]

...
 Everyone think being rich is rich and they just get the money out of thin air. Isn’t that is funny as well? I think somewhere in the forum I have read a nice article stating that how rich people are also tangled in the status maintaining challenges. They also have a lifestyle that they need to maintain which is ultimately built from the income source they have.

Indirectly they need to keep the business up and running all the time. They have to feed the salaries, keep business in operation all the time. We should keep down the debate that rich are happy every minute. :-o

Rich are afraid to become poor which is why they still work hard to maintain their finance level and even become richer.
Well, they have different lifestyles because they can do whatever they want as they have plenty of money. They'll somewhat be a part of growing our economy, their participation plays some role but guesses what, these billionaires never pay the exact taxes they have. Well, doesn't matter to me but what matters most is that these rich people give job opportunities to jobless people and help them survive.

[livingfree]

I agree with all of your points. Unfortunately, some people will always have the mindset that rich people are the antagonists of their dreams. It's as if they are to be blamed for living the life everyone is dreaming of and having the things everyone is working hard for. The harsh reality however is hating on these billionaires (especially the young ones, since I've been seeing a lot of them getting hate on social media) will not magically lift you up from your economic and social status. Raining on other people's parade will not make yours better.

That's true, that's why we just have to work on ourselves and remove that hate and let that positive energy get to you so that in the future who knows if you're the next millionaire in the making.

Just come off it, I hate it when people praise these rich people too much, it's just a misconception that all of them made it out of hard work, a lot tried better than them but didn't make it. Many of you are just misinformed and judged amiss because they are rich, so why are some rich become poor later? Have they suddenly stopped? No one wants poverty and if you hear the stories of many of these rich people, you will be able to infer grace, luck, hard work, circumstance, family and friends, and environment as what makes them rich. Mind you, some encountered one, two or more of these factors listed, so it's a wrong judgement for concluding that poor people are poor because they are lazy or didn't take steps.

As much as hard work is good, not all who do it are successful, fate also counts here, and even for some people, their riches cames very easily and further use the brain of their employees to be richer or maintain their richess, not hard work.

You are entitled to what you think. I am not praising them but I am giving the reality for myself on how I look at them before and after. I don't understand where you are coming from as I have explained well how many of them came from rugs to riches and worked their ass off hardly especially those local rich people that have the roots of being poor to living a well off life.

And, I am not saying that poor people are poor because they are lazy. You do believe what your fate is but you can change the result of it by doing something right now. So if you think that you hate me because I've said something good about them that you don't like, you gotta change that mindset of yours by hating other's opinion.

[savetheFORUM]

I also dreamed to be a billionaire, (Who will refuse this?). But as i watched the lives of some millionaires and billionaires and their family, there are always conflicts, problems and other factor that giving them a hard life. Yes, i believe they affecting the economy either good or bad. But this balance is needed for our economy pursue.

That isn't true for everyone, there are millionaires and billionaires who are living great lives without any problems as you are telling here, it all depends on you and how you manage your relationship with people from the beginning and what kind of a life you have been living before becoming a millionaire or a billionaire, one thing is for sure, problems and issues exist as long as you are alive, but it isn't necessary for you to be in trouble just because you are rich.

The only problem that I can think of as a billionaire or a millionaire is that you might be under the radar of robbers and kidnappers all the time for your money, and that might affect your family's wellbeing as well, so you might need to take care of that by having some security and asking them to not go anywhere alone.

[DanWalker]

I also dreamed to be a billionaire, (Who will refuse this?). But as i watched the lives of some millionaires and billionaires and their family, there are always conflicts, problems and other factor that giving them a hard life. Yes, i believe they affecting the economy either good or bad. But this balance is needed for our economy pursue.

That isn't true for everyone, there are millionaires and billionaires who are living great lives without any problems as you are telling here, it all depends on you and how you manage your relationship with people from the beginning and what kind of a life you have been living before becoming a millionaire or a billionaire, one thing is for sure, problems and issues exist as long as you are alive, but it isn't necessary for you to be in trouble just because you are rich.

The only problem that I can think of as a billionaire or a millionaire is that you might be under the radar of robbers and kidnappers all the time for your money, and that might affect your family's wellbeing as well, so you might need to take care of that by having some security and asking them to not go anywhere alone.

In life, everyone will have their own difficulties, if it's not money problems, it's problems in relationships, health, children...a lot of trouble in life. But we cannot say that the problems of the rich are more than the difficulties of the poor, nor do I agree with that thinking. Like it or not, the truth is that no one wants to live in poverty, those who are criticizing the rich life are because they are jealous. Life is full of difficulties, but when you have money and wealth, those difficulties can be solved, but if you are poor, you are even more stuck. In today's pragmatic society, those who have more money have a more comfortable life.

[xSkylarx]

2. American billionaires are 33% richer than they were at the start of the pandemic
In 2020, the US experienced the worst economic growth since World War II. Much of the country felt this burden, especially marginalized groups, but the top 1% did not struggle. Instead, they became significantly richer.

This is possible because, for decades, the system has been rigged in favor of the rich. Labor laws, CEO compensation, the privatization of public assets, and much more are skewed toward making the rich richer. This leaves little protection and support for the average person, putting them in a vulnerable position.

Yes. one of which is that the Covid-19 pandemic has caused a storm, in the form of a world economic recession. Although the rich also feel the same way, the poor, workers and women are the most vulnerable and most comfortable groups. The Covid-19 pandemic and this has become a marker, a turning point, exposing increasing economic tensions between groups.

The rich were still able to survive the pandemic crisis at that time, but if you look at India's death rate due to lockdowns and the government was unable to cope with finances to support economic needs, can you still say that rich people feel the same way? In fact, very rich people can survive in these conditions and can still experience optimal health services. In the post-pandemic economy, the rich can continue their lives because their financial stocks are still abundant, but the poor who have managed to survive only start over from zero.

Ive seen in the news that most of those rich people can still be catered to in the hospital, while for poor people, the hospital will just say to find another hospital as they are full, which they can really do, and I can't imagine the poor beg for food at that time as they can't go outside to work and the government is not giving them rations, while the rich people are just saying they are getting bored and want to go on vacation.

[fuguebtc]

2. American billionaires are 33% richer than they were at the start of the pandemic
In 2020, the US experienced the worst economic growth since World War II. Much of the country felt this burden, especially marginalized groups, but the top 1% did not struggle. Instead, they became significantly richer.

This is possible because, for decades, the system has been rigged in favor of the rich. Labor laws, CEO compensation, the privatization of public assets, and much more are skewed toward making the rich richer. This leaves little protection and support for the average person, putting them in a vulnerable position.

Yes. one of which is that the Covid-19 pandemic has caused a storm, in the form of a world economic recession. Although the rich also feel the same way, the poor, workers and women are the most vulnerable and most comfortable groups. The Covid-19 pandemic and this has become a marker, a turning point, exposing increasing economic tensions between groups.

The rich were still able to survive the pandemic crisis at that time, but if you look at India's death rate due to lockdowns and the government was unable to cope with finances to support economic needs, can you still say that rich people feel the same way? In fact, very rich people can survive in these conditions and can still experience optimal health services. In the post-pandemic economy, the rich can continue their lives because their financial stocks are still abundant, but the poor who have managed to survive only start over from zero.

Ive seen in the news that most of those rich people can still be catered to in the hospital, while for poor people, the hospital will just say to find another hospital as they are full, which they can really do, and I can't imagine the poor beg for food at that time as they can't go outside to work and the government is not giving them rations, while the rich people are just saying they are getting bored and want to go on vacation.

What's surprising? We all know that in today's society, as long as you have money, you can buy anything, so it will not be a surprise if the rich are always favored over the poor in all circumstances. There will be no fairness, whoever comes first will have priority, whoever comes later will enjoy the benefits later. Even us, if we had money in that situation, we would spend more to get better care. But because we are not as rich as those rich people, we feel that society is not fair.

[19Nov16]

Now more and more millionaires are concerned with humanity, of course, the popular ones are Bill Gates who like to make donations throughout the world with well -designed programs, in my country of assistance from millionaires, of course, it is immediately useful because it is related to the agricultural system, 5 or 6 years ago there are millionaires which provides assistance worth $ 10 million and is used for rice field irrigation systems thereby increasing farmers' production

[bitgolden]

Ive seen in the news that most of those rich people can still be catered to in the hospital, while for poor people, the hospital will just say to find another hospital as they are full, which they can really do, and I can't imagine the poor beg for food at that time as they can't go outside to work and the government is not giving them rations, while the rich people are just saying they are getting bored and want to go on vacation.

What's surprising? We all know that in today's society, as long as you have money, you can buy anything, so it will not be a surprise if the rich are always favored over the poor in all circumstances. There will be no fairness, whoever comes first will have priority, whoever comes later will enjoy the benefits later. Even us, if we had money in that situation, we would spend more to get better care. But because we are not as rich as those rich people, we feel that society is not fair.

That's a sad reality but unfortunately the reality nevertheless. I know that it is going to be a tough one and people will have hard time accepting but rich people are preferred any day. Hell the public prefers rich people over poor people themselves.

When you talk about taxing rich people a lot more and taxing poor people a lot less and that way help the poor, the poor themselves will not let you do it. Think about how much as a society we need to be in love with rich people that we would be willing to pay more taxes so they would pay less. That is the way it works right now, and unfortunately we are going to accept that it is going to stay that way for a long time, it is not going to end up changing anytime soon.

[romero121]

Now more and more millionaires are concerned with humanity, of course, the popular ones are Bill Gates who like to make donations throughout the world with well -designed programs, in my country of assistance from millionaires, of course, it is immediately useful because it is related to the agricultural system, 5 or 6 years ago there are millionaires which provides assistance worth $ 10 million and is used for rice field irrigation systems thereby increasing farmers' production

I'm not sure how good is Bill Gates. He had been doing good through the people in need and a major portion have been spent on charity work. This is really great and e serves as an example among the billionaires. These people contribute, but the inequality in the financial system that majority of money into the hands of very few people and the rest suffering to survive is really hard thing. Now the prime focus of every corporate business were upon agriculture and for the same Bill Gates might've started his work supporting the farmers.

[STT]

A billion is only 1 million people each with 1000 each and countries usually have far more people that with that amount of money available.   Ultimately concentrated wealth only matters while the money is deployed the millions of people in some way, if its not doing so then its not really relevant to economics.

4. The super-rich are taxed at a dangerously low rate

I hear this point made alot and its down to accountancy and how companies are taxed.  The billionaires if classed by cash in their banks only or the income taken per year would look very different and this is how they taxed and how much they are taxed each year.  Obviously nobody likes paying tax, the simple route taken by the very rich is to avoid taking income directly so they own companies just like every citizen can hold shares in a company and by doing so you are not liable for how that company is taxed.
  There are reasons why its all arranged this way, to only decide tax policy via newspaper headlines would lead to chaos.   Populism is expensive, its what they tried to do in Venezuela seizing companies who made profits.   It has caused poverty by obstruction to open free business, its ironic but interfering with the economy to raise immediate taxes causes more harm then good.

[TheUltraElite]

Now more and more millionaires are concerned with humanity, of course, the popular ones are Bill Gates who like to make donations throughout the world with well -designed programs, in my country of assistance from millionaires, of course, it is immediately useful because it is related to the agricultural system, 5 or 6 years ago there are millionaires which provides assistance worth $ 10 million and is used for rice field irrigation systems thereby increasing farmers' production

It is not that simple as it sounds. They are often using these philanthropic fronts as a cover to their money and how they are offshoring it. Most people dont get this properly and although it sometimes sounds like a tinfoil hat idea, it is not entirely false. Companies do need to cover up their total assets, evade taxation and continue to grow.

Of course if a poor person gets benefit from this, then very few people think of the opposite angle, like farmers for example.

Dont forget that rich folk already have their bitcoins stashed and are increasing their stash while we keep complaining about what they are doing. Hence focus should be to grab some coins in the bear market than read news articles.

[Abu-Naim]

Now more and more millionaires are concerned with humanity, of course, the popular ones are Bill Gates who like to make donations throughout the world with well -designed programs, in my country of assistance from millionaires, of course, it is immediately useful because it is related to the agricultural system, 5 or 6 years ago there are millionaires which provides assistance worth $ 10 million and is used for rice field irrigation systems thereby increasing farmers' production

That may be true in some regions of the world, but not in my nation, where millionaires are the root of our nation's economic woes since they are opportunistic and attempt to control every industry that will boost the economy while ultimately avoiding paying taxes to the government.

If millionaires can support the farmers in this way, there will surely be an increase in production capacity, which will improve the agricultural sector of the country's economy and give farmers optimism that they can make a comfortable living by paying for their kids' education.

[Uruhara]

Now more and more millionaires are concerned with humanity, of course, the popular ones are Bill Gates who like to make donations throughout the world with well -designed programs, in my country of assistance from millionaires, of course, it is immediately useful because it is related to the agricultural system, 5 or 6 years ago there are millionaires which provides assistance worth $ 10 million and is used for rice field irrigation systems thereby increasing farmers' production

It's a good thing when billionaires care for the little people who need help. They can create jobs and absorb more workers who are crammed into communities that really need jobs. The rate of unemployed people has recently increased. And this happens due to the lack of land for jobs and the high number of job applicants. thus causing more unemployment. So here the role of billionaires is needed if they really care about the grassroots. But somehow I feel that nowadays there are more rich people who only care about themselves without much concern for other people who are under them. Although not all of them are like that.

[erep]

It's a good thing when billionaires care for the little people who need help. They can create jobs and absorb more workers who are crammed into communities that really need jobs. The rate of unemployed people has recently increased. And this happens due to the lack of land for jobs and the high number of job applicants. thus causing more unemployment. So here the role of billionaires is needed if they really care about the grassroots. But somehow I feel that nowadays there are more rich people who only care about themselves without much concern for other people who are under them. Although not all of them are like that.

Social-minded billionaires are needed in the midst of social life because they have financial management for business development to create new job vacancies so that they can reduce unemployment, they also help provide business capital loans to the community but must meet the required criteria, so millionaires can have a positive influence on increasing economy to the community in addition to service options from the government. But most of the rich do not care about the economic fate of others and they choose to invest in assets rather than creating new jobs for other people.

[Aanuoluwatofunmi]

If we are also billionaires one day, what problem are we going to solve to help boost the economy, are we going to be a solution giver or a problem compounder, the rich fellows aren't affecting the economy the negative ways just because they have the money, they will have to rely on the middle class men to engage their tasks and get them done, they can't do things on their own, we both depends on each other for sustainability and achievement of our goals, the economy actually needs money to fund many things and put the in place, this and many more they cover which may seems not clear to us.

[Bloodseekers]

That may be true in some regions of the world, but not in my nation, where millionaires are the root of our nation's economic woes since they are opportunistic and attempt to control every industry that will boost the economy while ultimately avoiding paying taxes to the government.

If millionaires can support the farmers in this way, there will surely be an increase in production capacity, which will improve the agricultural sector of the country's economy and give farmers optimism that they can make a comfortable living by paying for their kids' education.

I think you have to be one of the millionaires in your country to be able to give help to people who need it.
Maybe we can liken millionaires to a double-edged sword, sometimes those who have a high sense of concern for those who are less capable, there are even some of them who do not care for those who are unable.

[hafiztalha]

If we are also billionaires one day, what problem are we going to solve to help boost the economy, are we going to be a solution giver or a problem compounder, the rich fellows aren't affecting the economy the negative ways just because they have the money, they will have to rely on the middle class men to engage their tasks and get them done, they can't do things on their own, we both depends on each other for sustainability and achievement of our goals, the economy actually needs money to fund many things and put the in place, this and many more they cover which may seems not clear to us.

Billionaire are super talented people which control the economy of country. Billionaires play important role in country's economy. They work for country growth and they provide jobs to poor people . The prosperity of country depends on rich and poor people ratio. If more rich people are present in a country, more educated people will arise. Billionaire and millionaires  are those people on which most middle class and poor people depends. Billionaire produce a billionaire and poor produce a poor people. It totally depends on nurturing that ' s why poor are poor because of Poor people thinking and rich are rich because of mind of rich people.

[bestcoins1]

Billionaire are super talented people which control the economy of country. Billionaires play important role in country's economy. They work for country growth and they provide jobs to poor people . The prosperity of country depends on rich and poor people ratio. If more rich people are present in a country, more educated people will arise. Billionaire and millionaires  are those people on which most middle class and poor people depends. Billionaire produce a billionaire and poor produce a poor people. It totally depends on nurturing that ' s why poor are poor because of Poor people thinking and rich are rich because of mind of rich people.

Smart rich people will find it difficult to fall into poverty and will be more likely to continue to be rich throughout their lives for generations in their own families. However, quite a few rich people fall into poverty because of their stupidity in managing the important assets they already have because they are too easily fooled by other people they have only just met in life.

And there are also quite a few poor people who become rich through their cleverness in making money, so that for now rich and poor still depend on each person's intelligence in safeguarding important assets and also in obtaining important assets for themselves. Because it can be directly assessed and seen clearly that the rich people who can continue to be rich are those who can always control any economy and can also provide jobs for people who need them with undiminished profits for themselves.

[Renampun]

There are many billionaires in this world but only a handful contribute to a better world, and everything you say is absolutely true, that billionaires take advantage of the poverty of many people to make themselves richer, for example, workers in gold mines or others, on average they are given a cheap salary while the price of gold is quite high in the market and allows the owner of the gold mine to buy a house every year.

because air pollution is getting worse in my country's capital, the government requires emissions tests on motorized vehicles to reduce the impact of carbon gas, but the funny thing is that the owners of these vehicle factories are not subject to fines related to the products they produce, from there we can see how powerful the world's billionaires are, they don't care about other people and the earth, all they care about is money and money.

[Essential10]

Currently, it can be observed that the number of rich people is increasing day by day in that country, the number of poor people is also increasing. Billionaires in various countries are joining politics to strengthen their infrastructure. By joining politics, they are officially represented through the electoral process. It is observed that the people of the regions they represent are getting poorer day by day. Whatever kind of institutions, companies, factories they set up in that region, they do not pay fair wages to the workers working in those institutions because everything is under their control. There is no one to protest, no one dares.  In present market conditions they are facing financial crisis due to which their living standards are being disrupted. By using money, political power, abuse of government power, they are building their huge empire. As a result, the economic structure of that country is collapsing.

[Fortify]

Millions of people are being forced deeper into poverty as the ultra-rich increase their wealth. People in the US and around the world struggle to pay the high costs of food, gas, and other necessities, yet over the past two years, the richest 1% have secured nearly twice as much wealth as the rest of the world combined. How is this possible?
Most people believe billionaires are there to help the economy, this is a total NO in most cases. Their very billions are earned because of cheap labor, and cheap labor is available because of poverty. More poverty creates more billionaires. They are rich because they utilze the opportunities coming from developing and poor nations.

In short, billionaires are bad for the economy. How bad? Check out these top four ways:


1. Extreme wealth and poverty are rising simultaneously for the first time in decades
Now more than ever, workers are struggling to pay their bills, buy their groceries, and support their families because inflation is skyrocketing across the world. Corporations are raising the prices on goods, not because they have to, but because it increases the payouts for their shareholders. This lines the pockets of the ultra-wealthy while forcing more people into poverty.

Last year, 95 food and energy corporations doubled their company profits. Instead of investing that money in their employees, they paid $257 billion to their already rich shareholders. In the backdrop of this outrageous corporate greed, 1.7 billion workers live in countries where inflation now outpaces wages.

2. American billionaires are 33% richer than they were at the start of the pandemic
In 2020, the US experienced the worst economic growth since World War II. Much of the country felt this burden, especially marginalized groups, but the top 1% did not struggle. Instead, they became significantly richer.

This is possible because, for decades, the system has been rigged in favor of the rich. Labor laws, CEO compensation, the privatization of public assets, and much more are skewed toward making the rich richer. This leaves little protection and support for the average person, putting them in a vulnerable position.

3. Billionaires are contributing a million times more carbon to the atmosphere than the average person
People across the globe are facing dangerous climate change events, such as severe hurricanes, flash floods, and wildfires because billionaires are making climate change rapidly worse. In fact, 125 of the world’s richest billionaires invest so much money in polluting industries that they are responsible for emitting an average of 3 million carbon tons a year. The more they invest in fossil fuels, the more they protect the use of them, no matter how much the rest of the world suffers in response.

4. The super-rich are taxed at a dangerously low rate
Billionaires paid a low tax rate of 3% while most people with less money, like nurses and teachers, paid far more. If multi-millionaires paid a 2-3% wealth tax rate and billionaires paid a 5% wealth tax rate globally, it would raise $1.7 trillion a year. This money could be used for underfunded social programs, environmental policies, and economic programs. This would reduce the stress of necessities like the cost of childcare and healthcare.

With this tax rate, 2 billion people could be lifted out of poverty. We need to reduce inequality to end poverty and injustice. Increasing taxation up to 5% for the richest people in the world would be a strong step toward equality

CONCLUSION
Everyone want to become a billionaire and it's a good thing to become one but what will be your impart to your community, nation or the world if you become a billionaire today. People like Warren Buffett, Chuck Feeney, Oprah Winfrey and many more can not be forgotten for their impart on the society. Only few billionaires are ready to help. To solve the issue posted on the economy by the billionaires, the followings can be done

👉👉Reducing the rising levels of global inequality and more billionaire-busting policies should be created.

👉👉Wide-ranging increases in taxation of the super-rich, and we call on world governments to tax multi-millionaires and billionaires

👉👉Creation of total education, full employment and health care facilities for the masses.

Governments around the world should unite and force billionaires to pay more money, but it's very unlikely to ever happen because if any single country opts out then they stand to reap a lot of benefit by attracting billionaires if that country is not penalized for it. The reality of the situation is billionaires become effective financial nomads, they'll hop around different countries and even buy/renounce citizenship when it suits them. They have wealth spread across many different, tax efficient, jurisdictions so they are unlikely to be tied to a single location. They also own so much wealth that the dividends in the shares that they own can often earn more than they might spend each day, so they get forever richer, it's a shameful situation currently and could pose a downfall of "free market" capitalism if it continues too heavily in this direction.

[Tony116]

There are many billionaires in this world but only a handful contribute to a better world, and everything you say is absolutely true, that billionaires take advantage of the poverty of many people to make themselves richer, for example, workers in gold mines or others, on average they are given a cheap salary while the price of gold is quite high in the market and allows the owner of the gold mine to buy a house every year.

because air pollution is getting worse in my country's capital, the government requires emissions tests on motorized vehicles to reduce the impact of carbon gas, but the funny thing is that the owners of these vehicle factories are not subject to fines related to the products they produce, from there we can see how powerful the world's billionaires are, they don't care about other people and the earth, all they care about is money and money.

I feel like most people hate and have hostile views towards billionaires. I'm not saying they're good people, but when we criticize them, it feels more like we're jealous of them than offering solutions. Have we ever thought that if we became billionaires, we would also be hated and slandered by others like the way we are slandering billionaires? They are rich through their efforts and intelligence, and when they are rich they will have power, we don't need to show too much dissatisfaction with what they do. Because do we guarantee that if we were billionaires, we wouldn't be doing what they're doing?

Furthermore, if we think billionaires are exploiting our labor, why aren't we richer than them to exploit their labor? I don't like to speak ill of others, if we are not satisfied with what they do then we need to try to surpass them because speaking ill of them will not make us better.

[bettercrypto]

When there are billionaires, one of the things they help our economy do is provide jobs to other people who are unemployed. Second, they also contribute a lot to paying taxes to the government.

Of course, they have many companies or businesses, and at the same time, those billionaire people also have foundations or charities. In short, they also help a lot of people, especially during calamities and other programs, because others are also building various livelihood programs and cooperatives, or something like that.

[uswa56]

When there are billionaires, one of the things they help our economy do is provide jobs to other people who are unemployed. Second, they also contribute a lot to paying taxes to the government.

Of course, they have many companies or businesses, and at the same time, those billionaire people also have foundations or charities. In short, they also help a lot of people, especially during calamities and other programs, because others are also building various livelihood programs and cooperatives, or something like that.

For those who have a lot of money, of course they have to use other people to be able to do what they cannot do themselves because very few people who have a lot of money do hard work, of course they ask other people to do the work for them. If they comply with the taxes imposed by the government on the wealth they own, this will also help with tax revenues and if they do not comply with taxes, of course this will not have any effect on the area's tax revenues.

Those who already have many businesses and the businesses they run will really help people around them to get jobs and this can help the economy of the environment where they live.

[Dr.Bitcoin_Strange]

There is one very disadvantaged I will particularly talk about billionaire businessmen in my country, which means that they always have a strong connection with the government so that they will have some kind of immunity, and the government will not really allow a common man to go into that same business and be very profitable. For example, let's say Mr. A is into the production of rubber and plastics. If he is very rich and connected to the government, he can possibly ask the government to protect his business in the sense that they should not give Mr. B the privilege and license to run the same business successfully.

But on the plus side, billionaires also have the chance of creating some job opportunities in society—some jobs that even some common men and women can easily get employed in.

[Mate2237]

This is not new in the economy system. And also this is not new in the world order in the economic structure for the humans. The economy is fashion to make the already rich people more richer and the poor masses to be continually poor so that that they will be begging from the rich then the rich will be feeling big because they poor is begging from them.

Really as for me I don't know who is making the things more costly, is to the government or the billionaires businessmen? I think it is the billionaires businessmen who initiate the cost and implemented by the government.

[Latviand]

This is not new in the economy system. And also this is not new in the world order in the economic structure for the humans. The economy is fashion to make the already rich people more richer and the poor masses to be continually poor so that that they will be begging from the rich then the rich will be feeling big because they poor is begging from them.

Really as for me I don't know who is making the things more costly, is to the government or the billionaires businessmen? I think it is the billionaires businessmen who initiate the cost and implemented by the government.

To answer your question on who's making it harder for the masses, you don't have to choose which one because these two are cooperating to make things happen for them only. The government does the laws that will protect the companies of these billionaires that will pay them the most and the government also owns the police force that will protect the property of these billionaires while the billionaires will be busy pocketing all the money they can stuff in their pockets and pay off the politicians if not the whole government so they can be on your side even if the people are getting more and more rowdy to protest the exploits that the billionaires use so they can be where they're currently standing on and they're also helping with the funding on the politicians that serve their best interests.

[YUriy1991]

It's a good thing when billionaires care for the little people who need help. They can create jobs and absorb more workers who are crammed into communities that really need jobs. The rate of unemployed people has recently increased. And this happens due to the lack of land for jobs and the high number of job applicants. thus causing more unemployment. So here the role of billionaires is needed if they really care about the grassroots. But somehow I feel that nowadays there are more rich people who only care about themselves without much concern for other people who are under them. Although not all of them are like that.

Simple analysis but also touching if studied deeply. I think there are those who want to go in that direction, but I think only a small part of them want to care about the people around them. Only those who are old and want to spend the rest of their lives together. If there are people who are young and think in that direction, I don't think there will be any more candidates for unemployment after they finish their education at university.

[Promocodeudo]

It will be hard for people to believe that the economy of some nations is planned in way that it will favor only the rich and the most influential, in the aspect of tax, most times, wealthy people get away with tax default, just imagine that the president of a country is a relative or friend to such wealthy folk, what will you expect happen at this point, but note this usually happens mainly in African countries where laws are made to which hunt the poor or perceived political enemy, I want to categorically last that their are tax defaulters everywhere, this people are been allowed to walk freely despite the dangers their companies portray to the environment, you hear tax waiver, how will you pardon someone that has owed a nation a huge amount of money to go free just like that, it is really well, but things have to change.

[Xcode7]

It will be hard for people to believe that the economy of some nations is planned in way that it will favor only the rich and the most influential, in the aspect of tax, most times, wealthy people get away with tax default, just imagine that the president of a country is a relative or friend to such wealthy folk, what will you expect happen at this point, but note this usually happens mainly in African countries where laws are made to which hunt the poor or perceived political enemy, I want to categorically last that their are tax defaulters everywhere, this people are been allowed to walk freely despite the dangers their companies portray to the environment, you hear tax waiver, how will you pardon someone that has owed a nation a huge amount of money to go free just like that, it is really well, but things have to change.

That is a bad influence, with the wealth they have being used for negative things by creating power in any way possible for personal interests, in my country it is also the same, many rich people join the authorities and then make many policies that benefit them and even by This way they can avoid many problems or obligations such as taxes.

However there are also billionaires who have a positive impact on the economies of more developed countries. Their influence is actually very large in being able to improve a country's economy if they can do it the right way.
A small example is a tax that will make a country's deficit grow and the per capita income of a country's population increases if they are employed by them.

[dezoel]

This is not new in the economy system. And also this is not new in the world order in the economic structure for the humans. The economy is fashion to make the already rich people more richer and the poor masses to be continually poor so that that they will be begging from the rich then the rich will be feeling big because they poor is begging from them.

Really as for me I don't know who is making the things more costly, is to the government or the billionaires businessmen? I think it is the billionaires businessmen who initiate the cost and implemented by the government.

To answer your question on who's making it harder for the masses, you don't have to choose which one because these two are cooperating to make things happen for them only. The government does the laws that will protect the companies of these billionaires that will pay them the most and the government also owns the police force that will protect the property of these billionaires while the billionaires will be busy pocketing all the money they can stuff in their pockets and pay off the politicians if not the whole government so they can be on your side even if the people are getting more and more rowdy to protest the exploits that the billionaires use so they can be where they're currently standing on and they're also helping with the funding on the politicians that serve their best interests.

All the negative things and everything are a different matter, but there is no denying the fact that billionaires help an economy prosper because of the businesses they run, and the taxes those businesses pay to the government. I know that a lot of people say that billionaires don't pay their taxes, or even if they do, they don't pay enough, but they ignore the fact that the businesses that they own pay their taxes in full and there is no exception for any business in that matter.

One more thing is that the businesses of these billionaires are the reason why so many people within the economy are employed, if there weren't any private companies in any country, a large portion of the overall population would have been unemployed because governments can't provide employment to that many people.

[barisbilgili]

All the negative things and everything are a different matter, but there is no denying the fact that billionaires help an economy prosper because of the businesses they run, and the taxes those businesses pay to the government. I know that a lot of people say that billionaires don't pay their taxes, or even if they do, they don't pay enough, but they ignore the fact that the businesses that they own pay their taxes in full and there is no exception for any business in that matter.

One more thing is that the businesses of these billionaires are the reason why so many people within the economy are employed, if there weren't any private companies in any country, a large portion of the overall population would have been unemployed because governments can't provide employment to that many people.

It is true that the taxes paid by billionaires will be able to increase the taxes received by the government from the businesses they run and this will really help the government and also the economy of the people who work in the businesses they run because without billionaires it will reduce the number of unemployed because the government has not Of course it can provide employment opportunities for everyone in that area.

[arimamib]

All the negative things and everything are a different matter, but there is no denying the fact that billionaires help an economy prosper because of the businesses they run, and the taxes those businesses pay to the government. I know that a lot of people say that billionaires don't pay their taxes, or even if they do, they don't pay enough, but they ignore the fact that the businesses that they own pay their taxes in full and there is no exception for any business in that matter.

One more thing is that the businesses of these billionaires are the reason why so many people within the economy are employed, if there weren't any private companies in any country, a large portion of the overall population would have been unemployed because governments can't provide employment to that many people.

It is true that the taxes paid by billionaires will be able to increase the taxes received by the government from the businesses they run and this will really help the government and also the economy of the people who work in the businesses they run because without billionaires it will reduce the number of unemployed because the government has not Of course it can provide employment opportunities for everyone in that area.

One of reasons for the rule that makes Billionaires in USA is to avoid tax evasion that can cost national income and national expenditure. Tax evasion is big issue in many countries that lead them having bigger budget to trace taxes payment.  This is what makes Americans business people keep their money in their country that lead the economic cashflow stay in the country.

This also invites investors to put their money the country that lead to open more job opportunities for the citizens. it's not a secret that many Billionaires all over the world also have their stakes they put in many companies based in USA.

[Gozie51]

All the negative things and everything are a different matter, but there is no denying the fact that billionaires help an economy prosper because of the businesses they run, and the taxes those businesses pay to the government. I know that a lot of people say that billionaires don't pay their taxes, or even if they do, they don't pay enough, but they ignore the fact that the businesses that they own pay their taxes in full and there is no exception for any business in that matter.

One more thing is that the businesses of these billionaires are the reason why so many people within the economy are employed, if there weren't any private companies in any country, a large portion of the overall population would have been unemployed because governments can't provide employment to that many people.

It is true that the taxes paid by billionaires will be able to increase the taxes received by the government from the businesses they run and this will really help the government and also the economy of the people who work in the businesses they run because without billionaires it will reduce the number of unemployed because the government has not Of course it can provide employment opportunities for everyone in that area.

Billionaires are very instrumental to every country because they help investment to grow as a result of the liquidity they circulate in macro and micro capacity. These businesses generate employment to teaming population who are also taxed too , so apart from taxing the billionaires proportionally, they also generate taxable people for the government through the labour force.

Apart from the fact that they are friends to the government and their supposedly tax rate may be reduced through corruption but government carry out so many projects through their organisations and business. So they also help to stabilize the business environment and generate IGR for the government.

[sana54210]

Billionaires are very instrumental to every country because they help investment to grow as a result of the liquidity they circulate in macro and micro capacity. These businesses generate employment to teaming population who are also taxed too , so apart from taxing the billionaires proportionally, they also generate taxable people for the government through the labour force.

Apart from the fact that they are friends to the government and their supposedly tax rate may be reduced through corruption but government carry out so many projects through their organisations and business. So they also help to stabilize the business environment and generate IGR for the government.

That suppose to be the most important part of their task, but when they try to avoid paying taxes, get their money to some Cayman islands type of place, or even the swiss banks, or all around they do whatever they can in order to screw the people, then it's not okay. Did you know that Amazon actually hurts American economy more than it helps it? How come?

Well, simply because they are paying salaries under poverty levels, yes that is right UNDER poverty levels. This means that if you are a worker of amazon, at certain positions of course, you might be earning under what would be considered poverty, meaning even if you earned a bit more, you would still be considered poor. That is not how you should become a trillion dollar company.

[Hewlet]

Firstly, let's know that it takes wealth to create more wealth and I am not surprised that millionaires are increasingly turning into a billionaire. I don't see anything wrong with that because if you are wealthy and have enough savings, you could easily invest in profiting businesses that will almost double your invested money within a couple of years thereby making you a multimillionaire and in some cases, I billionaire. This doesn't apply much to a poor or average salary earner who is just trying to get enough food to take care of his family, where will he see enough money to even have the thought of making any reasonable investment? And this is the reason why the rich continue getting richer while the poor continue ravishing in their poverty.

The only thing I find bad about these monopolistic millionaires is the way they treat their poor staff without taking into consideration their financial status. A situation where you've used your wealth to position yourself in almost all the sections of society but find it very difficult to pay your workforce a reasonable amount of money that is due them is one of the serious concerns I find about this millionaire who owns most of the big companies around. You will see a huge company that earns millions of dollars on a daily paying her workers a very unsubstantial amount of money because they feel that the poor masses don't have a choice and so they will frustrate them to see them as lord thereby making the demarcation between the rich and the poor to become extremely wide

[Ben Barubal]

  In my opinion, the contribution that billionaires make to the economies of each country is still great. Because what others say is true: if it weren't for these billionaires, it wouldn't have been able to provide jobs to other Filipinos.

  Of course, there are no billionaires who don't have companies that they manage or businesses, so here we immediately see the things that they can provide to some people and help that it can also contribute to the government in what is really happening today in every country, and this is the job for everyone who needs a job and can also pay large taxes to the government.

[eightdots]

All the negative things and everything are a different matter, but there is no denying the fact that billionaires help an economy prosper because of the businesses they run, and the taxes those businesses pay to the government. I know that a lot of people say that billionaires don't pay their taxes, or even if they do, they don't pay enough, but they ignore the fact that the businesses that they own pay their taxes in full and there is no exception for any business in that matter.

One more thing is that the businesses of these billionaires are the reason why so many people within the economy are employed, if there weren't any private companies in any country, a large portion of the overall population would have been unemployed because governments can't provide employment to that many people.

It is true that the taxes paid by billionaires will be able to increase the taxes received by the government from the businesses they run and this will really help the government and also the economy of the people who work in the businesses they run because without billionaires it will reduce the number of unemployed because the government has not Of course it can provide employment opportunities for everyone in that area.

In an economic system, both the state provides employment opportunities and private enterprises provide employment opportunities. Neither the state alone nor the private company can employ everyone. These are two elements necessary for the formation and progress of the market. That's why billionaires contribute greatly to state economies. Even tax and employment issues are enough to demonstrate this impact.

It is also necessary to create a working area and determine the reward for the labor of the person working in the market, and if the state or private enterprises determine this alone, problems may arise. Thanks to the resulting market price, all professions have a different value, and the factors determining this value are extremely important for the market.

[slapper]

Firstly, let's know that it takes wealth to create more wealth and I am not surprised that millionaires are increasingly turning into a billionaire. I don't see anything wrong with that because if you are wealthy and have enough savings, you could easily invest in profiting businesses that will almost double your invested money within a couple of years thereby making you a multimillionaire and in some cases, I billionaire. This doesn't apply much to a poor or average salary earner who is just trying to get enough food to take care of his family, where will he see enough money to even have the thought of making any reasonable investment? And this is the reason why the rich continue getting richer while the poor continue ravishing in their poverty.

The only thing I find bad about these monopolistic millionaires is the way they treat their poor staff without taking into consideration their financial status. A situation where you've used your wealth to position yourself in almost all the sections of society but find it very difficult to pay your workforce a reasonable amount of money that is due them is one of the serious concerns I find about this millionaire who owns most of the big companies around. You will see a huge company that earns millions of dollars on a daily paying her workers a very unsubstantial amount of money because they feel that the poor masses don't have a choice and so they will frustrate them to see them as lord thereby making the demarcation between the rich and the poor to become extremely wide

It's easier to grow wealth when you start with some. This is a psychological and economical fact. Wealthy people see investment and growth possibilities where others see hurdles. What if financial education was democratized? Imagine if basic investment knowledge and opportunities were accessible to everyone, regardless of their starting point. Micro-investing applications, community investment clubs, and school financial literacy programs might change everything. They might not level the playing field overnight, but they'd start closing the gap

Your second point about affluent business owners mistreating employees is relevant. It highlights societal empathy and accountability issues. What if businesses started adopting a more inclusive approach to wealth distribution within their organizations? Profit sharing, ESOPs, and living wages may help. This isn't just about fairness; it's smart business. Happy workers are more productive and loyal, which improves corporate results. The key is changing the mindset from 'profit at any costs' to 'profit with a purpose.' It's a win-win: businesses thrive, employees feel valued, and society becomes more equitable

[Youngkhngdiddy]

It's easier to grow wealth when you start with some. This is a psychological and economical fact. Wealthy people see investment and growth possibilities where others see hurdles. What if financial education was democratized? Imagine if basic investment knowledge and opportunities were accessible to everyone, regardless of their starting point. Micro-investing applications, community investment clubs, and school financial literacy programs might change everything. They might not level the playing field overnight, but they'd start closing the gap

Your second point about affluent business owners mistreating employees is relevant. It highlights societal empathy and accountability issues. What if businesses started adopting a more inclusive approach to wealth distribution within their organizations? Profit sharing, ESOPs, and living wages may help. This isn't just about fairness; it's smart business. Happy workers are more productive and loyal, which improves corporate results. The key is changing the mindset from 'profit at any costs' to 'profit with a purpose.' It's a win-win: businesses thrive, employees feel valued, and society becomes more equitable

     Everybody is still looking for money, the heat for money is a tired-less act as any drawbacks equals a wasted time and effort and results in damnation. Problem will never cease to end either. Money acquired and earned is not to be kept, a successful business man is always seen reinvesting many times again all because he wants to yield more returns. An average financially stable man thinks savings works well whereas it doesn't.
     The reinvesting act of every successful man makes for a more glorified economy. Investing schemes works so perfectly in putting the economic situation right to some extent. A man that earns averagely may often be overlooked due to his management strategies and all but it doesn't necessarily mean that he has nothing to offer. We can have extra rich, rich and even comfortably living people in the society. It all depends on the way we create a balance with ourselves and our goals whilst carrying everyone around us along.

[Mauser]

CONCLUSION
Everyone want to become a billionaire and it's a good thing to become one but what will be your impart to your community, nation or the world if you become a billionaire today. People like Warren Buffett, Chuck Feeney, Oprah Winfrey and many more can not be forgotten for their impart on the society. Only few billionaires are ready to help. To solve the issue posted on the economy by the billionaires, the followings can be done

👉👉Reducing the rising levels of global inequality and more billionaire-busting policies should be created.

👉👉Wide-ranging increases in taxation of the super-rich, and we call on world governments to tax multi-millionaires and billionaires

👉👉Creation of total education, full employment and health care facilities for the masses.

I don't know if really everybody wants to become a billionaire. For me this is not really a goal in life and also from my close friends I haven't heard them dreaming of being a billionaire. That's way too much money for one single person, sure a few million USD would be nice to have and would provide financial freedom. But, I would rather have a happy and healthy family than a lot of money in my bank account. There are things in life we can't buy for money and once you lose them it will be impossible to get them back. Forcing billionaires to give up their money is a difficult subject, because even if a country makes new laws to not allow citizens to hold so much wealth. They can just immigrate to another country with better laws and be safe from prosecution. I remember reading about American hedge fund managers giving up their US citizenship and relocated to Ireland where they didn't have to pay such high taxes. A billionaire busting scheme would only work if the whole world would work together and promote similar laws without loopholes.