Subject: Let me frame the question another way.
Author:
Posted on: 2022-08-24 15:08:51 UTC

What's the point of having a billion dollars?

I'm simplifying to a billion because I'm not a numbers person and that's about as much as I can get my head around. It also has the benefit of including all billionaires in the debate, not just the super-billionaires like Jeff Bezos and, for another, perhaps even crummier example, Elon Musk. (Read that article you linked about the top philanthropists. It's not actually very flattering to Bezos, either.)

So, what do these people actually do with all that money? Sure, they donate some of it. They can easily donate a million dollars to any given cause, and to most of us, it sounds like a lot, because we'll never have a million dollars in our whole lives. But out of a billion, that's just 0.1%. It's nothing to these people.

Sure, they turn some of it into material goods like expensive clothes and cars and heck even a rocket-ship, and you can argue that creates jobs. Again, though, we're mostly talking about spending on the order of millions here. You have to spend ten million just to make up 1% of a billion.

And what are they doing with the rest of it? Not much. They stuff it into bank accounts (some not even in their own country), put it in the stock market, buy up shares of other companies so they can make more money to stuff into more bank accounts and stocks... And what's the point? What actual good does this do anyone?

Seems to me what rich people mostly do is... to be rich. To go around saying "look at me, I'm so rich, you should pay attention to me because I have money and you don't."

In a word: Greed.

In another: Pride.

Heck, I could make a case for all seven deadly sins here.

Let's not forget: "It is easier for a camel to go through the eye of a needle, than for a rich man to enter into the kingdom of God" according to no less a figure than Jesus the Christ. I don't have to believe he was a literal son of God to agree with him about that.

Meanwhile, as hS pointed out, a government could take 90% of a billion dollars and do something with it (while still leaving the wealthy absurdly wealthy with a hundred million dollars). And as Lily pointed out, in a democratic system, we the people get a say in what the government does. I think that's loads better than letting billionaires just sit on it like dragons on their hoards.

~Neshomeh

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