This might sound skeptical, but I’ve always wondered why no billionaire has ever spent their fortune trying to end poverty or tackle climate change.
Not out of kindness.
Out of ego.
You’d think at least one would want the bragging rights of being able to say:
“I saved millions of lives.”
That’s a far bigger flex than another yacht, mansion, or trip to space.
@M91272231@2dogs1chic But when these ‘same units of money’ (e.i. dollars) don’t circulate, as is often the case, there is financial hardship for everyone else who meeds access to currency to perform work.
@M91272231@2dogs1chic more gold can be produced to cover interest payments; with a fixed supply of currency, interest isn’t possible, there’s no room to cover the currency lost to the lenders.
@chadjon88404590@softpinkgiggles Taxable income is taxed between 10 and 37 percent, after deductions; if you make less than the standard deduction, you won’t pay any tax.
No tax on tips has certain other provisions; see attached.