Topic: How billionaires are really affecting the economy. (Read 1192 times)

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.

     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.

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

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.

  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.

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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.