Millions of people are being forced deeper into poverty as the ultra-rich increase their wealth. People in the US and around the world struggle to pay the high costs of food, gas, and other necessities, yet over the past two years, the richest 1% have secured nearly twice as much wealth as the rest of the world combined. How is this possible?
Most people believe billionaires are there to help the economy, this is a total NO in most cases. Their very billions are earned because of cheap labor, and cheap labor is available because of poverty. More poverty creates more billionaires. They are rich because they utilze the opportunities coming from developing and poor nations.
In short, billionaires are bad for the economy. How bad? Check out these top four ways:
You just need to know that billionaires are business men, and the aim of every business man will always be to make profits and not the well-being of people liviting in that locality or region as that's the work of the government, not individual business men. So if the state of a country's economy is not in other, the only people to blame are the politicians in power embezzling public funds
There are still businessmen that are into both the welfare of the people and profit at the same time, but mostly they are into profit, which again is business without profit, it won't be running. Also, it is not always the duty of the government to provide you with good wellbeing; it is also your duty to do it. Stop relying on the government, as for sure you'll be struggling, and you know right now corruption is everywhere, so your duty is to find and elect good politicians to help grow the country's economy.