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Discover everything about business & leadership from Steef Vw
Steef Vw
❤️ tech, art, music, equality, fairness, kindness, honesty, positivity, creativity, mindfulness, yoga, travel, wonder, science
9 posts / 19 following / 55 followers
Billionaires suck the wealth out of the economy
This is a scary video: Wealth gaps between billionaires and the average person are self-perpetuating and growing, and ultimately, billionaires suck wealth out of the economy. This 7 minute video discusses that where you come from increasingly determines your wealth, and billionaires invest less and save more, leading to shrinking economies vs job and business creation. According to the video, billionaires save more through tax returns reporting even if they give for philanthropy. Philanthropy doesn't prevent the economy from going off a cliff. The only thing that can do that is reforming the tax system. (Fun fact: Elon Musk paid 0 income tax in 2018.) Recommended video if you care about this sort of thing...
This is a scary video: Wealth gaps between billionaires and the average person are self-perpetuating and growing, and ultimately, billionaires suck wealth out of the economy.
This 7 minute video discusses that where you come from increasingly determines your wealth, and billionaires invest less and save more, leading to shrinking economies vs job and business creation.
According to the video, billionaires save more through tax returns reporting even if they give for philanthropy. Philanthropy doesn't prevent the economy from going off a cliff.
The only thing that can do that is reforming the tax system. (Fun fact: Elon Musk paid 0 income tax in 2018.)
Recommended video if you care about this sort of thing...