Is It Evil to Be a Billionaire?
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A billion dollars is more money than any person would ever need in a lifetime. With so much poverty and inequality in the world, is it evil just to have that much?
sources:
fortune.com/2021/07/19/jeff-b...
www.investopedia.com/terms/b/...
www.forbes.com/billionaires/
www.marketplace.org/2021/04/1...
www.pewresearch.org/fact-tank...
www.politifact.com/factchecks...
www.cbsnews.com/news/billiona...
www.washingtonpost.com/lifest...
pubs.aeaweb.org/doi/pdfplus/1...
fortune.com/company/amazon-co...
www.washingtonpost.com/busine...
www.history.com/news/who-inve...
www.marketwatch.com/story/bil...
www.rollingstone.com/politics...
www.propublica.org/article/th...
www.boston.com/news/politics/...
thecorrespondent.com/712/ther...
www.forbes.com/sites/forbeswe...
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Being wealthy is not inherently evil in itself. What it is evil is the practices some wealthy people engage in, like tax evasion, exploitation of the working class, and, in the US specific case, legal bribing of politicians.
Change the title of the video to "It is evil to be a billionaire". You haven't given opposing arguments as mentioned initially in the video.
Breaking the "wealth defense industry" feels like a moral imperative not just to generate more tax revenue, but to establish equality before the law. In the end it's not about who's evil or not, but about a concentration of power that has the capacity to negate democracy and the rule of law if left unchecked
It is if you aren't the billionaire. If I'm the billionaire, its not evil at all
Looking forward to "Is It Evil To Tax?" and "Are Politicians Good At Spending Other People's Money?"
I believe it is impossible to be a billionaire without exploiting people
Donating to charity is just another way to dodge taxes.
Socialism or barbarism
One thing about the ultra-rich taking out loans against their assets: besides dodging taxes, it also makes financial sense. Yes, you pay interest, but that interest is more than made up for by the appreciation of the asset, so the interest rate is net-negative.
You guys forgot to mention that Amazon contributes to productivity and GDP indirectly by making shopping convenient and quick. That frees up people's time to do other stuff. It's the same thing investments in infrastructure seek to accomplish.
lol remember last year when the Los Angeles Lakers applied for a 5 million dollar "small business" loan and got approved 🤣 while actual small business got denied and went bankrupt.
One thing about money hoarding, a lot of them want to keep their stock because it is how they can manage to keep power over their companies.
The intro 😂 I love it!
Regarding the charitable billionaires. The problem remains that a small group of people is deciding where the money is going. Even if they are well-intentioned, it's entirely possible that they are using it inefficiently, not choosing goals that offer most benefit to humanity as a whole, or are even causing unintended (negative) consequences. They're not accountable, and that's a problem.
I don’t think the issue is the amount of money people have or give away but rather the the lack of access so many people have to make anywhere near that amount of money. Let alone a livable wage.
The way that billionaires look as many ways as possible to avoid taxes and the government let them get away with it while the working class can't get a few pennies without getting their pay checks raped by taxes. This is sick
Even among billionaire there is a disparity. There is someone who eeks out with a total net value of 1B then there is elon musk who has 10B just in liquid cash.
This is such an interesting topic. Always learning something new with you guys. Thank you!
That opening was a little TOO real. 😂
This is why I just want to be a trillionaire, instead of a billionaire.