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Why America needs multimillionaires/billionaires
Posted on 11/14/25 at 1:15 pm
Posted on 11/14/25 at 1:15 pm
With the assist from Grok:
1. They fund 70%+ of all venture capital
2. They pay ~40% of all federal income tax
3. They drive 80% of private R&D in critical tech
4. They create 60% of net new jobs via scaling businesses
5. They anchor philanthropic infrastructure no government can match
6. They seed 85% of elite university endowments that subsidize middle-class tuition
7. They absorb 70% of market risk in frontier industries
1. They fund 70%+ of all venture capital
2. They pay ~40% of all federal income tax
3. They drive 80% of private R&D in critical tech
4. They create 60% of net new jobs via scaling businesses
5. They anchor philanthropic infrastructure no government can match
6. They seed 85% of elite university endowments that subsidize middle-class tuition
7. They absorb 70% of market risk in frontier industries
5
Posted on 11/14/25 at 1:18 pm to Undertow
This is obvious to everyone other than the sky screaming "billionaires shouldn't exist" crowd
Posted on 11/14/25 at 1:49 pm to Undertow
They're clearly more financially saavy than people without money. Say what you want, but you don't accrue, maintain and keep that much without having financial sense. Once you start making good money, it's easier to create more wealth, but it's also easy to let lifestyle creep in and continue living paycheck to paycheck. It starts with being discipline somewhere early on.
Posted on 11/14/25 at 1:53 pm to Powerman
quote:
This is obvious to everyone other than the sky screaming "billionaires shouldn't exist" crowd
I think everybody else should pay more taxes than me and I should get food stamps and whatever else free stuff they got
Mostly because it seems like I’m the only one paying taxes and the only one without food stamps now
Posted on 11/14/25 at 2:12 pm to Undertow
They also own most of the professional baseball, football and basketball teams. And that's not the source of their wealth.
Posted on 11/14/25 at 2:19 pm to Undertow
quote:
If the net worth of all US billionaires were equally distributed among all American citizens, each person would receive approximately $18,000 to $19,000. The total net worth of US billionaires is about $6.2 trillion, and the US population is around 342 million people.
Be nice to have but certainly not changing anyone's lives.
We are better off with them for sure.
Posted on 11/14/25 at 2:23 pm to Undertow
Someone has to create jobs.
Posted on 11/14/25 at 2:36 pm to Zach
quote:
They also own most of the professional baseball, football and basketball teams. And that's not the source of their wealth.
This is a good reason to get rid of them
Posted on 11/14/25 at 2:48 pm to BTROleMisser
quote:
Someone has to create jobs.
Exactly right. And I want my boss to be rich. I worked for a poor man once, and it sucked.
Posted on 11/14/25 at 2:56 pm to Zach
quote:
They also own most of the professional baseball, football and basketball teams. And that's not the source of their wealth.
Years ago, when the Saints were contemplating a move out of NOLA, Tom Benson stepped in and bought the team for $70 million from John Mecom, Jr. in 1985. Today they are worth nearly $6 billion. Not a bad investment.
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