Do you think billionaires should give some of their riches away?

@Shavkat (137972)
Philippines
January 18, 2024 5:50pm CST
I am sure that most tycoons in business gained more profit during the pandemic. As the saying goes, "Rich becomes richer."In a business context, businesses should take social responsibility. It means that they need to share their blessings with their respective communities. Some people claimed that they should not. What is your take on this concern? Image Credit: extension.usu.edu
10 people like this
14 responses
@FourWalls (65832)
• United States
19 Jan
It’s their money, so they should no more be forced to “give” than you or I.
7 people like this
@Shavkat (137972)
• Philippines
19 Jan
I guess you are right. It seems that business reference books should be revised in terms of having the social responsability, which is sometimes included in business feasibility studies.
2 people like this
@FourWalls (65832)
• United States
19 Jan
@Shavkat — in America, it’s rather well-documented what businesses do charitable work. There are also businesses that are listed as black-owned, women-owned, or veteran-owned, if people are inclined to support individuals by shopping there instead of the “big store.” Many companies are also “known” to be big donors to causes, from charities and assistance organizations to “controversial” political/social stances (Chick Fil-A was blasted because its owner said he personally didn’t believe that gay marriage was right, Biblically speaking…however, when the gay bar in Orlando was attacked and 50 people killed, the Chick Fil-A [normally closed on Sunday] in the area opened and fed the survivors, first responders, and people in line giving blood.) One of the ways “free enterprise” works is that people can decide if they want to shop at a business that charges a lot of money and does no charitable giving. In America there are tax breaks for charitable giving, for both individuals and businesses. A lot of people give to get the tax break in addition to the support of a charity or cause they believe in.
3 people like this
@LadyDuck (467835)
• Switzerland
19 Jan
@FourWalls I agree, they are asking from months to pay "more taxes", I wonder why the politicians do not listen.
2 people like this
@1creekgirl (41150)
• United States
19 Jan
I believe everyone should be good stewards of the money they have. This may include helping others and the community. But no one should be required to give money they earned to someone who didn't earn it.
5 people like this
@Shavkat (137972)
• Philippines
19 Jan
You have a point. Regardless, they should pay taxes and these taxes can be used to help the communities by the local government.
1 person likes this
@LadyDuck (467835)
• Switzerland
19 Jan
They are asking to the governments to pay more taxes, I think it's a good move. Many billionaires give money to charities.
1 person likes this
@Shavkat (137972)
• Philippines
21 Jan
It is the best thing for them to comply with this matter. If not, they are just cheating the government and the local people.
1 person likes this
@Shavkat (137972)
• Philippines
21 Jan
@LadyDuck I was referring to some small companies do not pay taxes in my country.
1 person likes this
@LadyDuck (467835)
• Switzerland
21 Jan
@Shavkat They are NOT cheating the governments they ask to pay more taxes.
1 person likes this
@RasmaSandra (78025)
• Daytona Beach, Florida
19 Jan
They definitely should because to them $1000 dollars is like to us $1 and then counting upward. I think it would be great if people could prove that they need a certain amount of money they could ask a billionaire and would be given this money,
3 people like this
@Shavkat (137972)
• Philippines
22 Jan
I totally agree with you. I think they need to incorporate the real principle of social responsibility.
1 person likes this
• Nairobi, Kenya
19 Jan
I think they should share only if they want to share. They should not be forced.
2 people like this
@Shavkat (137972)
• Philippines
19 Jan
Forcing is not an option. It should be done in the right way and voluntarily.
1 person likes this
@LeaPea2417 (37339)
• Toccoa, Georgia
19 Jan
I agree, they should not be forced.
1 person likes this
• Nairobi, Kenya
19 Jan
@Shavkat YEs shavkat
@porwest (85953)
• United States
19 Jan
My take is no. They should not. It's their money. They earned it. Even if people think it is unfair or wrong, it's theirs. To take it is to steal it. To expect they give it away is wrong. Especially in the United States, every single American has the same opportunity to participate in the system, invest in these businesses, and obtain wealth. Hands off money that doesn't belong to someone else is what I say.
2 people like this
@Shavkat (137972)
• Philippines
22 Jan
@porwest Indeed. I am sure they have something in them to help others voluntarily.
1 person likes this
@Shavkat (137972)
• Philippines
21 Jan
It is logical not to ask for money from them because it is theirs. Besides, they are paying their taxes, which is considered their responsibility. Unless they are paying for it.
1 person likes this
@porwest (85953)
• United States
21 Jan
@Shavkat Yep. They pay taxes. The create jobs. They create and produce products that make our lives better and easier. They also create the opportunity for us to invest and grow our own wealth. I think they pay enough and what they contribute to society is already WAY more than the average person contributes.
1 person likes this
@shaggin (71950)
• United States
21 Jan
It’s theirs to do with as they wish. I don’t think they should have to feel looked down on if they don’t give it away. I do think it is very nice when they do give to wonderful causes though.
1 person likes this
@Shavkat (137972)
• Philippines
21 Jan
I agree with you. It would be great if they could do this instead of squandering their money on expensive ones that they do not need.
1 person likes this
@May2k8 (18282)
• Indonesia
22 Jan
It's their right to do that or not, they can just give it to those who really need it, for example orphans.
1 person likes this
@Shavkat (137972)
• Philippines
22 Jan
If I were like them, I would create a foundation for the needy.
1 person likes this
@jstory07 (137893)
• Roseburg, Oregon
19 Jan
Most rich people set up charities to help others.
1 person likes this
@Shavkat (137972)
• Philippines
19 Jan
I aree with you. They sometimes collaborate with different non-government organisations (NGOs) and even involve certains government agencies in their respective areas.
@aureliah (24316)
• Kenya
20 Jan
If they can help those in need its okay and if they can't, i say its their money
1 person likes this
@Shavkat (137972)
• Philippines
21 Jan
I agree. We do not need to expect for them to do this.
@dya80dya (36225)
19 Jan
If they want they can give some of their riches away. Some of them donate a lot of money.
1 person likes this
@Shavkat (137972)
• Philippines
21 Jan
It is nice of them to donate something to the needy. I agree that it is their own discretion to share or not.
@KarenAnne (257)
• United Kingdom
23 Jan
Maybe they should just start paying taxes like normal people?
1 person likes this
@Shavkat (137972)
• Philippines
24 Jan
I think they do.
@Shavkat (137972)
• Philippines
25 Jan
@KarenAnne Perhaps you are right. Most small companies do this in my country.
• United Kingdom
24 Jan
@Shavkat They really don't. They take money out of countries and hide it.
1 person likes this
• China
19 Jan
I think it depends on the ideas of the wealthy themselves.We see many wealthy people doing charity
1 person likes this
@Shavkat (137972)
• Philippines
19 Jan
Indeed. I had seen some of them engaged to different kinds of charities around the globe. In my view, it is a good way to help out the needy.
@Beestring (14213)
• Hong Kong
19 Jan
It's really up to them. It's their money. Nobody can force them to do so. But a lot of billionaires are donating to charity or set up a charity fund.
1 person likes this
@Shavkat (137972)
• Philippines
19 Jan
It is a good thing for them to do this. I am pretty sure that it is not easy to alleviate poverty. In this way, they can be able to render good conscience to help them.
1 person likes this