We don't need more billionaires..

[Prince patrick]

Permit me to say this. The most dangerous threat to the world economy isn't war, not poverty, not corruption. It's the billionaires. The world had enough money, but ten men hold it. Listen to this, the ten richest men in the world, have more money than 3 billion people combined. Elon musk, Bezos, Dangote, Zuckerberg, they all can end world hunger with 6% of their wealth, but they won't. Because they won't gain from it. They are only interested in profitable things like buying twitter now called X buying yachts, go to space to have fun, while children in India, Africa and even America sleep hungry. That is not economy, that is wickedness.

They tell us billionaires create employment". Lies! Amazon killed 100 thousand small shops. One man jeff Bezos closed shops of millions of families. Uber killed taxi drivers, Ai billionaires are now firing workers and replacing them with robots. They don't create jobs, they packaged poverty and call it innovation.

Every billionaire product is built on cheap labour. Who make iPhone ? Poor Chinese boy in the factory who earns $2 per day. who makes Nike shoes? Poor Vietnamese girl who cannot afford the shoe. Who drives profit for Tesla? Workers who can't afford Tesla. The billionaires at the top collects one billion, the workers at the button can't even pay rent. That is modern slavery.

A market woman pays tax on every bottle and sachet water she sells, but Amazon, Google, Apple Dodge billions in tax. They hide money in cayman island. The poor tax, the rich Dodge tax, and then the government borrows more money and tells the poor to pay more tax, world economy is upside down.

Imagine we take just half or billionaires wealth and put it into free schools, hospitals, factories and farms. Poverty will end in five years. But we worship them. We clap for them on Forbes list while we suffer.

The world does not have a poverty problem, the world has a greed problem, we don't need more billionaires, we need fewer, some has 2 hundred billion while some is drinking dirty water.

[Antidote47k]

Your concerns are legitimate, wealth is certainly concentrated in the hands of a few, it’s an unbalanced system but that’s usually how capitalism works, it’s usually framed as an equal opportunity system but it’s not if we’re being honest. One thing I would be cautious about is assuming that the spending capacity of billionaires is equivalent to their net-worth, most of the time these figures are inflated and they are not really worth that much in reality, most of their wealth are held in company shares and not cash sitting in the bank, if the stock goes down, so does the wealth so basically it’s tied to how well the company is doing.

[abhiseshakana]

OP what you describe actually inverted pyramid phenomenon where too wide at the base occupied by the middle and lower classes then it narrows, becoming extremely steep, leading toward a small peak occupied by a select few elites what we call the 3% group. A healthy economic structure should be shaped like a pencil, which has a thick middle section, with a prosperous middle class unlike the current situation, where it is propped up by the poor and middle classes.

I have never even perceived a direct subsidy, where one wealthy person supports several poor individuals can cure illnesses, because from what I know subsidies only treat the symptoms even training people who lack self awareness increasingly lazy. Lower and middle income class need added value or economic self reliance built at the grassroots level.

The greed of the ultra rich group is not the main issue at the moment, matter of fact the real problem is that the middle and lower classes are not consolidated so they lacks bargaining power which leaves them unable to demand fair wages, influence tax policy, or build a counter ecosystem for business. We can make pencil shaped economic pyramid by consolidating power on the bottom of pyramid so that money circulates laterally or among fellow citizens instead of being continuously siphoned upward toward giant corporations. We can start by do daily shopping at the small, local shops in our neighborhood and local producer, rather than at a giant supermarket chain. When money is spent among those in the bottom of pyramid, it circulates horizontally, sustaining many families within the same community, rather than flowing directly into the accounts of shareholders at the top of the pyramid.

[Free Market Capitalist]

Permit me to say this. The most dangerous threat to the world economy isn't war, not poverty, not corruption. It's the billionaires.

You don't know how the world you live in works. You're the typical idiot who thinks wealth is like a pie—if some people have more, others are bound to have less. I’d go on longer, but I’m sick of explaining basic things to shitty leftists like you who not only don’t know how the real world works, but refuse to understand it.

If there are more than 8 billion people living in the world today with standards of living that were unimaginable a couple of centuries ago, it’s precisely because there are more and more millionaires and billionaires—and this is despite the efforts of fucking communists like you, who only bring hunger, mass poverty, political repression, and terror.

[HajiBagi]

I understand your frustration and with those billionaires the world can change and things will change, but we should not forget that those billionaires are businessmen who want to keep being billionaires, they have worked hard to get to the level where they are today and you can’t expect them to sit down and say that they will make the world better when they are not our government, i am not going to blame any of them because none of them are politicians who we vote and started punishing us.

They have what it takes to make the world better but i believe if it was you in that position you will also do the same thing that they are doing because you owe no one anything, it is the government and the greedy leaders we chose we should blame, I am not supporting them but they are not the reason why we are all suffering in the world.

[Rruchi man]

Permit me to say this. The most dangerous threat to the world economy isn't war, not poverty, not corruption. It's the billionaires. The world had enough money, but ten men hold it. Listen to this, the ten richest men in the world, have more money than 3 billion people combined. Elon musk, Bezos, Dangote, Zuckerberg, they all can end world hunger with 6% of their wealth, but they won't. Because they won't gain from it.

Can they really end world hunger? There are several factors that are contributing to hunger in several parts of the world, and billionaires worldwide can simply not solve it by donating a percentage of their wealth. Some of these factors can simply not be controlled by money.

Also, if the government in these countries, where poverty and hunger is an issue are doing well to try solve tackle the challenges they have, billionaires will not need to be criticised for not trying to help out.

[arallmuus]

Imagine we take just half or billionaires wealth and put it into free schools, hospitals, factories and farms. Poverty will end in five years

This wont solve poverty issue, it will just reset the society. Once everything is given for free, the baseline for poverty and what actually counts as minimum standard for living will just shift towards that standard

Aside from that, almost all of these bilionaires' wealth are actually tied to stocks so the only way for you to extract their money would be to sell their stocks which would crash the market then affect the middle income household as well.

Elon musk, Bezos, Dangote, Zuckerberg, they all can end world hunger with 6% of their wealth, but they won't

World Food Program ever stated on X that $6B could end the world hunger. Elon replied by asking about his plan to do with that money and he would sell his Tesla stock to fund this program if it makese sense. WFP get back at him with detailed plan but stated that it was only a temporary stoppage on world hunger.

You cant really eliminate food hunger and poverty though

[logfiles]

Maybe you should blame it on systems such as capitalism that enable them in the first place. I mean most of the top billionaires we know are from the west, the epitome of capitalism right?

Unless the current monetary system becomes obsolete... Nothing is going to change. The game is rigged

[Charles-Tim]

If there are no billionaires in the world, there will still be problems. If the billionaires make their money from legit businesses, I have nothing to complain about.

What I will complain about is if the rich person is getting his money from something that is not legal and bad. But so far they get their money from something good and acceptable which is the businesses people know them with, some people will be jealous of them, but they are not the problem.