Topic: How billionaires are really affecting the economy. - page 4. (Read 1111 times)

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.
 
 

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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

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.

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.