With 946 Billionaires, why do so many people have to struggle?

Answer 1

Billionaires control their wealth, they do not consume it. It would probably make for a fairer world if the control was spread more evenly, but the assumption that if all their wealth given to the poor for consumption would make people better off is not true. Their wealth is held as productive assets, and only a fraction of the profits can be consumed without seriously damaging the productive power of the economy. In a capitalist system the "seed corn" for the economy is in the hands of a few rich people, but it is in everyone's interest that it not be consumed.

Answer 2

Define struggle? Anyone in America that has a job is not struggling compared to the rest of the population of the world. Just because you don't live the way you want is not the fault of these billionaires. It's your own fault, and maybe your parents. Americans have a marginal propensity to consume that is at 1.03. That means that the average American spends more each month then they make. Why is that? Most Americans feel that it is their God given right to have a band new car and have tons of credit card debt. Think about the fact that most credit cards have an 18% interest rate. Also many Americans believe in barber shop economics. Is it smarter to own something that depreciates, or appropriates? Got your answer? I bet more than likely you think that it is better to rent a residence then a car, and own a car then a residence. Why pay all the money for a car that will never at best maintain that value and pay a land lord money for something that you will never own, but it's value will constantly increase. That is why. Americans need to know how to manage finances instead of just spending money.

Answer 3

Because the 946 Billionaires have all the money.


Cheers :-)

Answer 4

Because its currently the only way the world works. O.K. its true that there are way too many resources tied up in the hands of the powerful, but you can only spread the bread and butter over so much bread. And I wouldn't be so quick to judge all of the billionaires in the world, since there are many of them that contribute to society's needs on a far grander scale than any of us ever could. If any of you can come up with a system that captures the needs of more people without disregarding the rules of economics, you will be our century's hero.

Answer 5

There's a famous billionaire where I live. In fact he just resumed day-to-day control of his company after getting tired of his jackass ex-CEO screwing things up. His own personal efforts have created enormous amounts of jobs right here in America -- his offices and plants are all over the area and in other states.

But that's not the important thing. The important thing is that he got rich by providing something people really wanted and needed. People who had been getting screwed by other suppliers found they greatly benefited by buying stuff from him instead. That's why he's a billionaire. He's done more good for me and the people I know than all the government officials and politicians and charities and do-gooders, all put together.

Answer 6

Those 946 billionares got their wealth by systematically exploiting the labor of the world's 2 billion workers - pushing them to work as hard as possible, paying them as little as they can get away with and laying them off the minute they can no longer be profitably exploited.

The obscene wealth of the few comes from the toil and misery of the many!

Answer 7

I'd say it's because the billionaires have all the money. There are only so many resources in the world, and money is our choosen measure of what percentage of those resources an individual can control. For one person to have a lot of money, another must have less.

Answer 8

My initial response- is pure GLUTTONY!!!! But on a more serious note, its due to our struggle- through some means or another that contribute to the billionaire's wealth! Go Figure!

Answer 9

Probably because they are the ones who get and use all the tax breaks they can get. People who struggle do because the cost of living has gone up, and the income has not always been there to keep up with it.

Answer 10

Most of those people become selfish,concieted,stuck up and lets not froget one if the 7 deadly sins greed. They froget where they come from and stuff and well just go oh well im rich now i dont have to worry about any of that anymore. Im not tryng to preach at you or anything when i mentioned greed was one of the 7 deadly sins. I have nothing against people of other religions or anything and im not trying to offend anyone.