I laugh at this idea. Sure it would be nice if possible. But people become billionaires through the art of inheritance and not paying taxes. They tend to excel at both.
[1] While replying to you, I did a quick Google and found this link: https://www.chicagobooth.edu/review/billionaires-self-made According to this, what the poster was talking about was more true in the past. ~40 years ago, 60% of billionaires had come from rich families, while 10 years ago (when this article is from) that number was down to 32%. One can presume that this trend continues over the last decade as well. So at least 70% of billionaires are self made, and 20% (according to the same source) come from very poor families.
So at the very least, we can say that the post I am replying to is true for at most 30% and is false for 70%.
I think they can fend for themselves.
> I don't have a survey[1] of what percentage of billionaires are or aren't self made - so I thought about it, and of the ones available for recall, all were self-made. I assume what the poster talked about exists, but it seems to not be the most obvious case.
Inherited billionaires don’t make for exciting stories. That’s why they aren’t at the top of anyone’s mind. Was the point.
But “self-made” can also be loaded:
> [1] While replying to you, I did a quick Google and found this link:
You’ll see that that he defines certain people like Zuckerberg as not really being “wealthy” but “upper-middle class”. But I guess economists might have a certain bias towards the upper end of the spectrum when they only research wealth and those entities and people who have it.
To sum up although again, not sure it can penetrate the density, the conversation is about whether billionaires are "people born billionaires and manage to not pay taxes" as is the original assertion, or not.
Because once you decide that it's impossible, then there will be no more evidence collected.
I would like to see a wealth tax passed and then evaded and then a follow up to stop the gaps etc. A few cycles of this before deciding it can never be done. I think this is a multi decade effort that is important for the future of all societies.
* - https://www.scotusblog.com/case-files/cases/moore-v-united-s...
> You who make six figure salaries slinging javascript would probably not have jobs like that without companies that billionaies built.
doing something else more productive? your disdain is apparent in this comment, so i'm sure you wouldn't mind it if people who "sling javascript" for six figures find something better to work on.
> Would they have bothered or even been able to do it if we taxed away not only their income but also their wealth?
do you start every side project with the question, "well how much will i have to pay in taxes when this makes me a billionaire?" most innovation in human history has existed absent a profit motive.
Absolutely delusional!