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The Sunday Debate: Abolish Billionaires

Intelligence Squared

The Majority of Billionaires in the Us Didn't Get Wealthy From Government Favors

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i oppose it in all its forms, and i spend much of my time at cato arguing against it. That sort of deck tilting by government makes us poorer. It diverts resources to un productive ventures. It encourages lobbying. But the truth is, the majority of billionaires didn't get wealthy from government favors. Most got extremely rich by providing the ideas leadership or capital for products that we as customers vote with our wallets to buy because we value them. The watsap ap generates five to ten billion dollars a year in annual revenue. So why should their wealth be now plundered?

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