They sure aren’t. They give up their wealth, but by doing so gain more power. They get to decide what is important for the world by dumping millions of dollars in their favourite charities. Charities that they conveniently get to put their names on to feel good about themselves.
So they’re not allowed to have the money…and they’re also not allowed to donate it? Am I clear? Because that seems stupid, tbh.
The world worked a little better when philanthropy was encouraged for the tax break. It always will. They get their cute little name on a plaque, whatever. The money goes where it’s needed.
This is not to say anyone needs to be able to make that much in the first place, but demonizing one for also getting rid of it is funny
The money goes where they want it to go, which is frequently not where it’s needed.
And you are correct, they should not have the money, since they didn’t earn it. They also shouldn’t get to decide where it goes, since they aren’t suited to make those decisions. It should be taken from them.
I believe they’re alluding to the wealthy funneling their money into foundations and other “charitable” endeavors as basically being a money wash that also comes with a lot of power to influence things. Their charity comes with strings and when you’re talking about the vast sums they wield, it has the ability to derail other charities or efforts that may have been more focused on the actual task/problem. If NPR decides not to run a story critical of Microsoft or the Gates’s because the Bill and Melinda Gates foundation are donors, does that charity still have a net positive effect?
No, because it is literally impossible to become a billionaire without exploitation.
Millionaire? Possible. Billionaire? No moral way.
If they still have billions to their name, they’re not as good or generous as they’ve made you think they are.
Most of these people only have billions in stocks. 2 things would happen if they sold these stocks: the stock prices would decrease (leading to them losing a lot more money than they would plan) and other people (with worse entintions) would buy the stocjs so they control the company and then push anti consumer changes
