A wealth tax would encourage more conspicuous consumption, and it would encourage more in the way of a political and charitable giving. So i'm not entirely sure how you square that with the demands for a wealth tax. Isn't that part of the thing that you would have to address to be successful in abolishing millionaires? That an se there pretty popular. And i suppose what it's referring to is that people like richard branson, people like elon musk, have a kind of authority and credibility that often political leaders don't have.
Reportedly the planet's richest person, multibillionaire Elon Musk is currently seeking to buy the World's online public square, Twitter. Should billionaires be able to buy so much influence? For this week's Sunday Debate we revisit a discussion from 2021 investigating just that, when we invited Professor Linsey McGoey of Essex University and Ryan Bourne of the Cato Institute go head to head on whether society should tolerate the existence of billionaires. The debate was chaired by Economics Editor at BBC Newsnight, Ben Chu.
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