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The myth of the "self made" billionaire !



Self made billionaire are a myth. of course being self made is a nice idea it suggests that anybody can claw their way to the top of they're willing to work hard enough. it's what the American dream is all about. if Kylie Jenner can become a self made billionaire at age 21, so can you and i. even as wages stay stagnant and wealth inequality grows it's a comfort to think that we're all simply one cosmetics company and some elbow grease away from fortune. unfortunately a nice idea is all it is. 


the origins of self made billionaire are often depicted as a rags to riches rise to the top fueled by nothing but personal grit and the courage to take risks like dropping out of college and stating a business in a garage. but in reality the origins of many billionaire's aren't so humble. they're more like riches even more riches stories rooted in upper middle class upbringing. how much risk did bill gates take on when his mother used her business connection to help microsoft land a deal making software for IBM ? 


  • Elon musk came from a family that reportedly owned shares in an emerald mine in Africa. 


        If your safety net to joining the billionaire class is remaining upper class that's not pulling yourself up by your bootstraps. not is failing to pay your fair share of taxes along the way. along with musk and Bezos michael Bloomberg George Soros and carl have all gotten away with paying zero federal income taxes some years. that's big helping  hard courtesy of legal loopholes and American taxpayer who pick up the tab all while our tax dollars subsidize the corporations owned by these so called self reliant entrepreneurs. 


  • did you get a thank you card from any of them ? 


I sure as hell didn't, other common ways that billionaires build their coffee off the backs of others include paying garbage wages and subjecting workers to abusive labor conditions. but portraying themselves as rugged individuals who overcome poverty and did it on their own remains an effective propaganda tool for the ultra wealthy. one that keeps workers from rising up collectively to demand fairer wages and one that ultimately distract from the role that billionaires play in fostering poverty in the first place. billionaires say their success proves they can spend money more wisely and efficiently than the government. yet they have no problem with government spending when it comes to receiving corporate subsidies. when arguing for even more tax breaks they claim each dollar the government takes from is a dollar less for their critical  role in expanding prosperity for all american through job creation and philanthropy. well that's rubbish. 30 years of tax cuts for the wealthy have failed to trickle down. 


     As a result of trump tax cuts 2018 saw the 400 richest America's family's pay a lower tax rate then the middle class. and US billionaire wealth grew by 2 trillion dollar during the first two years of a pandemic that was economically catastrophic for just about everything else. the want to have cake and everyone else's cake and eat it too. behind every ten figures net worth is systemic inequality, inherited wealth labor exploitation, tax loopholes and government subsidies. 


To claim these fortunes are self made is to perpetuate a myth that blames the wealth gap on the choice of everyday America's. billionaires are not made by rugged individuals. they're made by policy failures. and a system that rewards wealth over work. 




Thank you....








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