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Someone DM’ed me & said defend billionaires in 2 tweets. Took 3. Curious for your critique or own version (obv generalized): Business ppl (mostly) grow the pie. Gov’t (mostly) splits it (grows some too) W/o business ppl growing pie, there’s less to splithttps://twitter.com/eriktorenberg/status/1224151530980270081?s=20 …
When ppl get rich in a sustainable way, ppl should celebrate, b/c, among other reasons, some of that $ goes to gov’t, which means more education & healthcare Without growth, we couldn’t pay for these services. Each public job is in effect “sponsored” by a private job (via taxes)
See recent critique of billionaires for not solving climate crisis. US Gov't has over 4 trillion dollars (collected via taxes vs created via growth). What's better use for public $ than solving climate change? The more ppl become rich, the more money gov't has to do so.pic.twitter.com/5WaTvbKefa
One thing I'd add is I'm surprised when pro-government fans don't want people to become billionaires as long as they are creating sustainable value (e.g JK Rowling)... It means more money for the gov't!
Another addition: There are 2 distinct kinds of billionaire complaints: Those that think the $ would be better off distributed more widely among employees & public directly +those that think the gov't should be collecting the money & dispersing it itselfhttps://twitter.com/eriktorenberg/status/1204506799941881857?s=20 …
It’s so much more simple than the taxation story. When wealth is created via consensual trade, the trade *itself* is profitable for both sides. So in a fair market, massive wealth is in itself proof of massive value delivered to society. That’s as a 1st order effect!
was trying to talk to pro-gov't anti-capitalists on their own terms
“Tax the billionaires” — agreed!
I'd rather share the upside upfront than on the back end b/c of the waste, but similar idea:https://twitter.com/eriktorenberg/status/1204506799941881857?s=20 …
You’re side-stepping. You’re not defending billionaires, you’re defending job creation. When people talk about billionaires, they’re talking about wealth inequality.
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