Learn Liberty | Prof. Davies: Wired is WRONG - Billionaires are not Ruining Economy @LearnLiberty | Uploaded February 2023 | Updated October 2024, 43 seconds ago.
Billionaires. Should They Exist? Politicians and content producers love to say they are bad for the economy.
Attempting to debunk so-called myths, Wired launched a video, "Economists Debunk Top 5 Billionaire Myths" putting forth some misleading claims. It was so riddled with errors that we had to bring in Professor Antony Davies, Associate Professor of Economics at Duquesne University, to respond.
As always, his insight was clear, logical, and backed up with data.
►► More from Professor Antony Davies:
► 7 MYTHS You Learned in High School About the GREAT DEPRESSION: youtube.com/watch?v=q4ZMMH6LxXc
► Words & Numbers: wordsandnumbersorg.wpcomstaging.com
CHAPTERS
0:00 The role of billionaires in society
0:37 Claim #1: Most billionaires aren’t self-made.
1:49 Claim #2: Billionaires don't pay much in taxes.
4:15 Claim #3: Billionaires are a "black hole."
5:05 Claim #4: You are competing with the very rich for the ownership of assets.
7:51 Claim #5: The standard of living in the U.S. was better in the past.
10:01 Claim #6: The U.S. has a flat tax.
12:27 Claim #7: Billionaires don’t give enough to charity.
15:50 Claim #8: Billionaires exploit loopholes.
18:23 Claim #9: Billionaires own their corporations.
19:51 Claim #10: Billionaires’ corporations are destroying jobs with technology.
21:45 What’s the REAL root problem?
#Billionaires #ElonMusk #Wealth #Taxes
LEARN LIBERTY:
Your resource for exploring the ideas of a free society. We tackle big questions about what makes a society free or prosperous and how we can improve the world we live in. Watch more at learnliberty.org/.
Billionaires. Should They Exist? Politicians and content producers love to say they are bad for the economy.
Attempting to debunk so-called myths, Wired launched a video, "Economists Debunk Top 5 Billionaire Myths" putting forth some misleading claims. It was so riddled with errors that we had to bring in Professor Antony Davies, Associate Professor of Economics at Duquesne University, to respond.
As always, his insight was clear, logical, and backed up with data.
►► More from Professor Antony Davies:
► 7 MYTHS You Learned in High School About the GREAT DEPRESSION: youtube.com/watch?v=q4ZMMH6LxXc
► Words & Numbers: wordsandnumbersorg.wpcomstaging.com
CHAPTERS
0:00 The role of billionaires in society
0:37 Claim #1: Most billionaires aren’t self-made.
1:49 Claim #2: Billionaires don't pay much in taxes.
4:15 Claim #3: Billionaires are a "black hole."
5:05 Claim #4: You are competing with the very rich for the ownership of assets.
7:51 Claim #5: The standard of living in the U.S. was better in the past.
10:01 Claim #6: The U.S. has a flat tax.
12:27 Claim #7: Billionaires don’t give enough to charity.
15:50 Claim #8: Billionaires exploit loopholes.
18:23 Claim #9: Billionaires own their corporations.
19:51 Claim #10: Billionaires’ corporations are destroying jobs with technology.
21:45 What’s the REAL root problem?
#Billionaires #ElonMusk #Wealth #Taxes
LEARN LIBERTY:
Your resource for exploring the ideas of a free society. We tackle big questions about what makes a society free or prosperous and how we can improve the world we live in. Watch more at learnliberty.org/.
