Tuesday, September 29, 2015

What If the Richest Person in Every Country Gave All Their Money to the Poor?

News
Redistributing the wealth from one person varies by the size of the country and wealth of the richest billionaire. For example, redistributing the wealth of Microsoft co-founder Bill Gates to the poorest 15 percent of Americans would generate a one-time payment of $1,735.

Using Bloomberg Billionaires Index, adding Warren Buffett’s $60 billion would boost the payment to roughly $3,000. Adding Charles and David Koch ($98.7 billion), Jeff Bezos ($48.9 billion), Mark Zuckerberg ($41.8 billion), Larry Ellison ($40.8 billion), Larry Page ($35.2 billion) and Sergey Brin ($34.3 billion) would boost the payment to roughly $10,000 per person. Would a one-time $10,000 distribution solve the problem of inadequate primary and advanced education that plagues the poor? While populous robin-hood rhetoric, supported by the Pope, Carl Ican, and, of course, politicians eager to buy votes, it's hardly a long-term solution that promotes economic growth and job creation for the United States.

Headline: What If the Richest Person in Every Country Gave All Their Money to the Poor?

Would the world be a better place if the wealthiest gave their fortunes away to the bottom billion? We tried to answer the question by creating the Robin Hood Index.


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