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- Apr 5, 2009
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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 dont 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 havent 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."
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