One billionaire or 1,000 millionaires?

[Star]

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Which is better for America's consumer driven economy, one billionaire or 1,000 millionaires?

What can politician's do to stop the redistribution of wealth?


Warren Buffett: “I don’t pay hardly any payroll taxes. Governor Romney hardly pays any payroll taxes, Newt Gingrich hardly pays any payroll taxes. Debbie pays lots of payroll taxes. And the American public does but they haven’t really understood that what goes to the American government is a combination of the two, payroll taxes and income taxes. And there are figures that show that the people in the $10-20 thousand bracket are paying as much in the combination of payroll and income taxes as the ultra rich.”

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If one man becomes a billionaire how many millionaires does he leave in his wake?

How many millionaires exist today because of Steve Jobs, Bill Gates, etc?

I will bet it's more than 1000

Those are two interesting self-made billionaire choices that left millionaires in their wake that you cite, but the reason we talk about them is they are outliers among the majority of self-made billionaires.


Steven Jobs was a Buddhist:
Bhogasukha - the happiness of sharing one's wealth. This kind of happiness is an extremely important concept in Buddhism.


The major influences in Bill Gates life were the socially conscious Congregational Church and his parents. Bill Gates dad is a hot-shot lawyer and his mother was a banker/teacher/UofW Regent/social and community activist/etc/etc and according to Bill gates himself, Mary Gates was the single most influential person in his life and-----and Mary Gates sold IBM's CEO on using some rinky-dink software company located in Bellevue, WA, to make the original O/S for IBM's PC, which also makes, IMO-----Mary Gates - former anti-apartheid activist/union school teacher/National United Way Chairperson the most influential person in the start-up success of Microsoft.


Mary Maxwell Gates
In 1975, Governor Daniel J. Evans appointed Gates to the Board of Regents for her alma mater, where she led the movement on the board to divest the University of Washington's holdings in South Africa to protest apartheid. In addition, Gates served on the UW Foundation Board of Directors, the UW Medical Center Board, and the UW School of Business Administration's Advisory Board.

In the for-profit world, Gates served for many years on the boards of several major corporations, including: First Interstate Bank of Washington; Unigard Security Insurance Group; Pacific Northwest Bell Telephone Company, which became U.S. WEST Communications; and KIRO Incorporated.

Beyond the Seattle area, Gates was appointed to the board of directors of the national United Way in 1980, becoming the first woman to lead it in 1983. Her tenure on the national board's executive committee is believed to have helped Microsoft, based in Seattle, at a crucial time. In 1980, she discussed with John Opel, a fellow committee member who was the chairman of the International Business Machines Corporation, her son's company. Mr. Opel, by some accounts, mentioned Mrs. Gates to other I.B.M. executives.

A few weeks later, I.B.M. took a chance by hiring Microsoft, then a small software firm, to develop an operating system for its first personal computer.[3]


But I digress.
Righty's would rather brandish their jealousy of Warren Buffett than answer the very simple question asked in the OP -- "Which is better for America's consumer driven economy, one billionaire or 1,000 millionaires?"---asked a different way, Which is better for America's consumer driven economy, a few big money hoarders or a whole bunch-o-consumers?

"The progressive vision: We all do better when we all do better."
.​

 

[Skull Pilot]

.

Which is better for America's consumer driven economy, one billionaire or 1,000 millionaires?

What can politician's do to stop the redistribution of wealth?


Warren Buffett: “I don’t pay hardly any payroll taxes. Governor Romney hardly pays any payroll taxes, Newt Gingrich hardly pays any payroll taxes. Debbie pays lots of payroll taxes. And the American public does but they haven’t really understood that what goes to the American government is a combination of the two, payroll taxes and income taxes. And there are figures that show that the people in the $10-20 thousand bracket are paying as much in the combination of payroll and income taxes as the ultra rich.”

.

If one man becomes a billionaire how many millionaires does he leave in his wake?

How many millionaires exist today because of Steve Jobs, Bill Gates, etc?

I will bet it's more than 1000

Those are two interesting self-made billionaire choices that left millionaires in their wake that you cite, but the reason we talk about them is they are outliers among the majority of self-made billionaires.


Steven Jobs was a Buddhist:
Bhogasukha - the happiness of sharing one's wealth. This kind of happiness is an extremely important concept in Buddhism.


The major influences in Bill Gates life were the socially conscious Congregational Church and his parents. Bill Gates dad is a hot-shot lawyer and his mother was a banker/teacher/UofW Regent/social and community activist/etc/etc and according to Bill gates himself, Mary Gates was the single most influential person in his life and-----and Mary Gates sold IBM's CEO on using some rinky-dink software company located in Bellevue, WA, to make the original O/S for IBM's PC, which also makes, IMO-----Mary Gates - former anti-apartheid activist/union school teacher/National United Way Chairperson the most influential person in the start-up success of Microsoft.


Mary Maxwell Gates
In 1975, Governor Daniel J. Evans appointed Gates to the Board of Regents for her alma mater, where she led the movement on the board to divest the University of Washington's holdings in South Africa to protest apartheid. In addition, Gates served on the UW Foundation Board of Directors, the UW Medical Center Board, and the UW School of Business Administration's Advisory Board.

In the for-profit world, Gates served for many years on the boards of several major corporations, including: First Interstate Bank of Washington; Unigard Security Insurance Group; Pacific Northwest Bell Telephone Company, which became U.S. WEST Communications; and KIRO Incorporated.

Beyond the Seattle area, Gates was appointed to the board of directors of the national United Way in 1980, becoming the first woman to lead it in 1983. Her tenure on the national board's executive committee is believed to have helped Microsoft, based in Seattle, at a crucial time. In 1980, she discussed with John Opel, a fellow committee member who was the chairman of the International Business Machines Corporation, her son's company. Mr. Opel, by some accounts, mentioned Mrs. Gates to other I.B.M. executives.

A few weeks later, I.B.M. took a chance by hiring Microsoft, then a small software firm, to develop an operating system for its first personal computer.[3]


But I digress.
Righty's would rather brandish their jealousy of Warren Buffett than answer the very simple question asked in the OP -- "Which is better for America's consumer driven economy, one billionaire or 1,000 millionaires?"---asked a different way, Which is better for America's consumer driven economy, a few big money hoarders or a whole bunch-o-consumers?

"The progressive vision: We all do better when we all do better."
.​

worry about what's best for each individual and the economy will be just fine.

if a man can become a billionaire then good for him.

 

[Foxfyre]

If one man becomes a billionaire how many millionaires does he leave in his wake?

How many millionaires exist today because of Steve Jobs, Bill Gates, etc?

I will bet it's more than 1000

Those are two interesting self-made billionaire choices that left millionaires in their wake that you cite, but the reason we talk about them is they are outliers among the majority of self-made billionaires.


Steven Jobs was a Buddhist:
Bhogasukha - the happiness of sharing one's wealth. This kind of happiness is an extremely important concept in Buddhism.


The major influences in Bill Gates life were the socially conscious Congregational Church and his parents. Bill Gates dad is a hot-shot lawyer and his mother was a banker/teacher/UofW Regent/social and community activist/etc/etc and according to Bill gates himself, Mary Gates was the single most influential person in his life and-----and Mary Gates sold IBM's CEO on using some rinky-dink software company located in Bellevue, WA, to make the original O/S for IBM's PC, which also makes, IMO-----Mary Gates - former anti-apartheid activist/union school teacher/National United Way Chairperson the most influential person in the start-up success of Microsoft.


Mary Maxwell Gates
In 1975, Governor Daniel J. Evans appointed Gates to the Board of Regents for her alma mater, where she led the movement on the board to divest the University of Washington's holdings in South Africa to protest apartheid. In addition, Gates served on the UW Foundation Board of Directors, the UW Medical Center Board, and the UW School of Business Administration's Advisory Board.

In the for-profit world, Gates served for many years on the boards of several major corporations, including: First Interstate Bank of Washington; Unigard Security Insurance Group; Pacific Northwest Bell Telephone Company, which became U.S. WEST Communications; and KIRO Incorporated.

Beyond the Seattle area, Gates was appointed to the board of directors of the national United Way in 1980, becoming the first woman to lead it in 1983. Her tenure on the national board's executive committee is believed to have helped Microsoft, based in Seattle, at a crucial time. In 1980, she discussed with John Opel, a fellow committee member who was the chairman of the International Business Machines Corporation, her son's company. Mr. Opel, by some accounts, mentioned Mrs. Gates to other I.B.M. executives.

A few weeks later, I.B.M. took a chance by hiring Microsoft, then a small software firm, to develop an operating system for its first personal computer.[3]


But I digress.
Righty's would rather brandish their jealousy of Warren Buffett than answer the very simple question asked in the OP -- "Which is better for America's consumer driven economy, one billionaire or 1,000 millionaires?"---asked a different way, Which is better for America's consumer driven economy, a few big money hoarders or a whole bunch-o-consumers?

"The progressive vision: We all do better when we all do better."
.​

worry about what's best for each individual and the economy will be just fine.

if a man can become a billionaire then good for him.

But the thing is, I don't work for anybody's benefit but my own and those I choose to help support. I didn't start a business in order to help anybody but us. I don't put in the long, long hours, take the risks, learn the processes, and put in the effort for anybody but us.

But because I have ability to believe that I can help prosper us by doing all that, I also provide jobs for others, buy products that others have to sell, utilize services that others have to offer. Nobody works for me or sells me a product or offers me a service for my benefit either. They do that for their own benefit.

But in the process, my husband/partner, our employees, our suppliers and service vendors all make it possible for each of us to look to our own interests and everybody is benefitted simply by each of us looking to our own interests and doing what we do to benefit ourselves. Nobody makes us. None of us do anything that we do not choose to do. We are all free people with complete choice to do what prospers us.

That's what freedom looks like.

When the government presumes to dictate how much each of us will be allowed to prosper, it all starts breaking down. And if the government presumes too much, almost all prosperity will be crushed except for those in government or favored by government.

 

[usmcstinger]

.

Which is better for America's consumer driven economy, one billionaire or 1,000 millionaires?

What can politician's do to stop the redistribution of wealth?


Warren Buffett: “I don’t pay hardly any payroll taxes. Governor Romney hardly pays any payroll taxes, Newt Gingrich hardly pays any payroll taxes. Debbie pays lots of payroll taxes. And the American public does but they haven’t really understood that what goes to the American government is a combination of the two, payroll taxes and income taxes. And there are figures that show that the people in the $10-20 thousand bracket are paying as much in the combination of payroll and income taxes as the ultra rich.”

.

Income Redistribution is the war cry of Socialists and Communists. Doesn't work very well does it.? Everyone in this country has the freedom to make as much money as they desire.
However, it takes a strong work ethic, sacrifice, taking risks, a college education and/or self education.

Those who do not possess these qualities end up settling for less and blame everyone but themselves for their short comings.

I came from a blue color family got a College Education and had a good career. I never hit six figures.

I have good friend who came from the same place. He didn't go to college. He became a self made millionaire.

I never be grudged any one who did much better than me.

Our Forefathers were well aware of the harm income redistribution created.

No it doesn't. Not in all cases. And in MOST cases the things you listed won't assure that you will become a millionaire.

MOST million and billionaires in this country..are born into it.

By the way..the only type of government that doesn't practice some form of socialism..is anarchy.

Somalia is almost there.

I never said that the those qualities would result in making a person a millionaire. You must have a learning disability or have been poorly educated.

You present to viable source to prove your statement regarding born millionaires.

It appears that there are gray areas between Socialism and Anarchy.
"There are, accordingly, several economic schools among Anarchists; there are Anarchist Individualists, Anarchist Mutualists, Anarchist Communists and Anarchist Socialists."
Voltairine de Cleyre, Anarchism (1901)

Different philosophies of the relationship between the two has gone on for centuries.
I will take capitalism over all the failed economic theories of Socialism, Communism, Keynesian Economics, and Anarchy.