Category: Influence

Should A Healthy Society Have Billionaires?

As of September 2024, there were 801 billionaires based in the United States with a combined wealth totaling $6.22 trillion. For comparison, in 2020, the U.S. had 614 billionaires with a combined wealth of $2.947 trillion. As a result, today’s billionaires control significantly more wealth than the bottom half of American families. And wealth disparities are only increasing. 

Is this okay? Should a healthy society have such a thing as billionaires? Should wealth be capped — or, at least, should those making more than a billion dollars be taxed at much higher levels?

Defenders of a billionaires’ class assert that the wealthy — as innovators, risk-takers, and job creators — help drive a healthy American economy. While making money off their money, billionaires often retain only a fraction of the social benefits that accrue from their investments. Proponents of unchecked wealth say that any effort to impose income and wealth limits will dampen the desires of richest amongst us to contribute to the growth of our economy.

Another argument posits that billionaires donate significantly to charities — from homelessness programs to environmental causes to the arts — which benefit from individual gifts and foundations that support such causes.

However, not everyone agrees that unbridled income and wealth are good things. This camp believes that extreme wealth and income inequality are dangerous to democracy. For example, billionaires — like Elon Musk — have much greater access to political leaders and often contribute to candidates and causes that will help them become even more prosperous.

Another line of reasoning for limiting wealth maintains that billionaires invest heavily in financial interests that hurt the rest of society, from environmental damage to food insecurity to unfair market advantages.

Or, did you know that billionaires live, on average, a decade longer than the average person, and their older years also have nearly a decade more disability-free time than the rest of us? Of course, it must be noted that in general those who live in poverty and less prosperous communities live much shorter lives than those higher up the income scale. (This is known by some as “death by zip code.”) Supporters of greater income and wealth equality may ask if a “Billionaires’ Tax” could be used to help others enjoy the life- and comfort-span of the wealthy.

Of course, this post lists only a few reasons for each side of this debate. Do you have more to offer? Or how do you feel about the wealth and income divide? Should a healthy society have such things as billionaires?

Related questions: How much is enough? What is the purpose of money? Who has power? Does Universal Basic Income make sense?

What Music Would You Recommend People Give A Try?

Is there a musical artist that you think an adventurous listener might try? What song or album is likely to make someone a fan?

Share why if you wish.

Are You Politically Active?

Government, either local or national, can play a significant role in your life. Do you take part in that political process? Are you politically active?

In the United States, there is currently a hotly-contested presidential race, and in many countries all around the world there are several high-profile elections taking place.

Even beyond that, there are almost always local elections happening wherever you happen to be. These can influence issues from setting school policies to trash pickup schedules.

At what level are you involved in this process?

One way to be involved is simply to vote. Depending on your community, there are are possibly a couple of times a year you can show up to vote in local, state, or federal elections.

Beyond that, you can be informed when you vote. Knowing something about the candidates shows a certain level of civic engagement. Are there debates to watch and/or attend? Are there voting records available? Do you talk to other potential voters to get their opinions?

The more engaged person may even join a campaign or try to influence the outcome of a particular election. That might include making phone calls, knocking on doors, putting up lawn signs, or donating money. If you believe in a particular cause or candidate, that might be for you.

Or you could even run for office yourself, or otherwise work for the government. There are hundreds of thousands of people serving in various roles like serving on town committees or doing research or working at a school. There are many ways to be involved, regardless of experience or skill set.

Or, of course, you might not be engaged in any way at all. Each of these kinds of involvement takes some level of time or effort. It can be difficult, if you have a busy life, to find time in your schedule to participate.

How politically active are you?

Related questions: Do you have a plan to vote? What role should government play in our lives? What are our responsibilities to others?

How Do You Expand Your Circle Of Influence?

Do you want to expand the amount of influence you have, in general, within a particular role you fill, or dealing with a new-found interest?

You may want to advance in your job or career (e.g., putting yourself on a path to becoming a supervisor). Or, maybe there’s a cause you want to contribute to, but you want to go beyond giving money or volunteering now and then (e.g., you may want to serve on a non-profit’s board). On a more personal level, you may want to increase your sway within your family (e.g., because you see important familial decisions are on the horizon).

You need more than a desire to accomplish something to improve your circle of influence. It would help if you also went beyond setting a goal.

Expanding your capacity for influence requires a plan or a process focused on achieving your desired outcome. The late self-improvement author and public speaker Stephen R. Covey encouraged people to define the circle of their concerns and then, within that circle, honestly assess their circle of influence.

Most people (those who aren’t wealthy, well-connected, or possess a high amount of privilege) often have more concerns than they have a realistic ability to impact. That said, individuals also have more power, skills, or talents than they give themselves credit for.

Covey noted that people who put positive, proactive energy into things they can impact—within their circle of influence—not only get more things done, but they also likely can expand their circle of influence. (The reverse is true for those who are simply reactive to what the world throws at them.)

So, how can you expand your circle of influence? Do you have a plan or process for accomplishing your goal? Is the plan focused on things you can realistically impact?

Related questions: How have your parents influenced you? What impact do you think you have on other people? What are our responsibilities to others?