Monday, December 19, 2022

How most billionaires damage the economy

Unfortunately, too many people believe the myth that billionaires help the economy.  This short clip (7.5 minutes) from Wired magazine explains why a "wealth tax" is necessary.  [As I stated in the previous post, the first permanent Income Tax in the USA was such a tax.  It applied to only 2% of the population.  Not long after that, legislators were lobbied over & over by the Rich, and we wound up with the current set-up.]

There's nothing wrong with being rich if one acts responsibly and helps society by paying their fair share.  To get where they are, billionaires stood on the shoulders of society via education, infrastructure, networks, communication, civility in our habitat & relations, etc.  In addition, perhaps they had a bit of luck:  maybe born on third base, maybe smarter than the average person, or taken under the wing of someone with wealth/influence/power.  In any case, there's no such thing as a "self-made" billionaire.  That's another myth.  

Any super-rich person should be willing & happy to help out society by means of a wealth tax.  Humans are a social species, and that includes those in the Upper Crust. ðŸ˜Š
Watch the clip at the link above; see if it makes sense to you.

From Inequality.org---

67%.  Now, someone please tell me how anyone still believes our elected politicians in DC represent the Will of the People.  It doesn't appear they do in this instance.
.........................
Not only my opinion.  Be Well

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