How billionaires are really affecting the economy.

[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.

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[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.