Warren Buffett is a “good” billionaire. Where is he? – 24/7 Wall Street.
The number of billionaires in the United States has reached nearly 800 according to a recent Vox / Recode article. These Americans control $ 3.4 trillion in total assets.
Three of those nearly 800 billionaires live in Nebraska, and one, Warren Buffett, has a net worth of around $ 108 billion. That’s good enough to rank fifth on the list of American billionaires, behind Jeff Bezos ($ 193 billion), Elon Musk ($ 153 billion), Bill Gates ($ 127 billion) and Mark Zuckerberg ($ 120 billion). dollars), according to the latest Forbes listing. Frenchman Bernard Arnault tops the list with a net worth of $ 195 billion.
Should someone be able to amass this kind of fortune? Even a so-called good billionaire, like Buffett, who intends to give most of his fortune. In a Sunday New York Times editorial, Anand Giridharadas wrote: “Mr. Buffett is actually the most dangerous type of billionaire we have. The worst billionaires are the good billionaires. The kind that gives the impression that the problem is the distortion of the system when in fact the problem is the system. “
Giridharadas argues here, and in his 2018 book, “Winners Take It All,” that the problem with billionaires isn’t their level of virtue, it’s “the set of social arrangements that make anyone win. , to keep and conserve so much wealth, even as millions more lack food, work, shelter, health, connectivity, education, dignity and the opportunity to pursue their happiness.
Buffett took a hit last week with the ProPublica report on how little he pays in taxes. That Buffett recognizes the inequalities in the US tax system is old news. In Buffett’s comments before the report was released, he wrote: “I think the money will be more useful to society if it is donated in a philanthropic manner than if it is used to slightly reduce an ever-growing US debt.” increase.
Giridharadas says of this: “In other words: I [Buffett] I believe in higher income taxes for people like me, but I’m very organized to avoid having income to report, and I don’t really believe in taxes because I think I should decide how these resources are excess are spent.
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