How billionaires are really affecting the economy. - page 5.

Cling18

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Quote from: southerngentuk on June 30, 2023, 01:14:43 PM

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.

southerngentuk

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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.

FanEagle

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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.

kaseygriffin

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Quote from: Gozie51 on June 29, 2023, 08:28:19 AM

Quote from: kaseygriffin on June 29, 2023, 05:51:45 AM

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.

TheGreatPython

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Quote from: Kakmakr on June 26, 2023, 01:36:13 AM

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. Tongue

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. Wink

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.

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Quote from: kaseygriffin on June 29, 2023, 05:51:45 AM

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.

Davidvictorson

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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.

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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.

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Quote from: Uruhara on June 26, 2023, 04:57:01 AM

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.

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Quote from: Marvell1 on June 29, 2023, 05:26:23 AM

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 Grin

. 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.

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Quote from: kaseygriffin on June 29, 2023, 05:51:45 AM

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.

Davian144

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Quote from: kaseygriffin on June 29, 2023, 05:51:45 AM

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.

Quote

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.

so98nn

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Quote from: Kakmakr on June 26, 2023, 01:36:13 AM

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. Tongue

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. Wink

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.

kaseygriffin

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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.

Marvell1

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Quote from: yhiaali3 on June 28, 2023, 09:20:20 PM

Quote from: Marvell1 on June 28, 2023, 06:04:25 AM

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 Grin

. By the way, corruption has almost become a culture in government, and it happens in any country, not just yours.

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So anyway, I applied as a merit source :)

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

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.

CryptSafe

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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.

Onyeeze

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Quote from: Kakmakr on June 26, 2023, 01:36:13 AM

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

Uruhara

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Quote from: Peanutswar on June 28, 2023, 05:15:40 AM

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.

Darker45

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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?

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