Amazon founder Jeff Bezos changed how people shop.REUTERS/Abhishek N. ChinnappaBillionaires are sometimes criticized for having excessive wealth and for fueling gross inequality.Two professors say the uber-wealthy should be celebrated for improving people's lives in many cases.Billionaires fuel growth through innovation, and raising their taxes could backfire, they told BI.Critics denounce billionaires as greedy and corrupt, bemoan their existence as evidence the system has failed, and blame them for many of the world's ills.
Billionaires Aren't All Bad — And Taxing Them More May Backfire, These Experts Say
tmohamed@insider.com (Theron Mohamed), Business Insider
Wed, 09/25/2024 - 5:59am
Topics: wealth without limits: in defense of billionaires. ethical theory and moral practice, and eras tour reuters/abhishek n chinnappabillionaires jessica flaniganwe us treasury social security medicare mark zuckerberg meta elon musk walmart's ceo steve jobs warren buffett chris freimanthere bill gates taylor swift lebron james philadelphia fed's beige book james cleveland cavaliers amazon bezos jessica flanigan richard l morril chair ethics democratic values university richmond chris freiman west virginia us business insider freiman jeff bad taxing backfire experts people goods public money services workers good taxes officials vast product morally inequality growth world economic policy year gap pay poverty revenue worth professor millions economy companies long governments market products poor government criticized founder problems global standards tackle lives fueling deliver raising offer objectionable key benefits buy live failure influence reduce spend popular claims suppliers interest important rest wrong consumers unfair philanthropy providing middle-class producing earned impact amassed amount citizens shop million examples return
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