Prof. Davies: Wired is WRONG - Billionaires are not Ruining Economy

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:    • Prof. Antony Davies: 7 MYTHS You Lear...  
► Words & Numbers: https://wordsandnumbersorg.wpcomstagi...

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

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