Quote:
Originally Posted by Fèvier
Those are some crazy statistics! 
Imagine if the all the billionaires invest half their yearly income into reducing the national debt. wonder how much that would help  |
It would not be too much help bro
It takes a thousand billion to equal one trillion and we owe over 14 trillion.
So essentially we would need over 14-thousand billionaires to invest and
MOST billionaires only have between 1-10 Billion. Only a very few have higher; such as Bill Gates who has 56 Billion. So on average each Billonare would be giving 35-50% of their entire wealth if they were to invest 1 billion. If Bill Gates wanted to give a billion for this cause it would be 1.78% of his entire wealth. To put this in perspective, if you were a Millionaire 1.78% of your money is $17,800. That is a lot of money to spend, even for them .. not pennies! Furthermore there is only 403 people who are billionaires in the US (according to Forbes). So if all 403 Billionaires were to invest the 1 billion it would only 403 - Billion and not the 14,000 - Billion we need. That would only be 2.88% of the money we need. Now if every billionaire was to invest a clean 50% of their money it would come out to be $650,000,000,000 (that's 650 Billion) which is only 4.64% of the 14 trillion we need. It is still not practical as you can see, nor would each billionaire be willing to give 50%
My calculations are rounded but accurate ..... hope this helps