The Multi Crorepatis of the World – on taxes and greed
Forbes Magazine which makes money out of listing the richest people of the world asked some of them questions on greed, taxation and economy. And these are the comments of some of the richest persons of the world.
Greed: "Wall Street people used greed as a credo until it devoured itself; Damned near ruined America , maybe the world."
"Greed and fear have gotten us into the current economic predicament, Greed on any level is bad. But, in turn, we have to distinguish greed from reaping the just rewards of the free enterprise system."
"Ambition is good. But greed, as we've seen, can lead to excessiveness that can spiral out of control."
Taxes. Nearly all of them believe everyone should be paying less
"Reducing taxes is important, particularly given current economic circumstances, the right kind of tax cuts will encourage investment, spur production, prevent the shuttering of factories and preserve, and eventually increase, employment."
“Income tax should be abolished altogether; It is a perverse society that would punish that which it wishes to encourage."
"Go with a flat tax of 15%. The economy will soar."
When asked what currency they would like to hold the majority of their portfolio in, more than two-thirds of the plutocrats said U.S. dollars, believing the greenback remains a safe haven in uncertain times despite the Federal Reserve's desire to print hoards of money.
Of those who didn't want U.S. dollars, most preferred a mix of major currencies such as the euro, Canadian dollar and Swiss franc.
Many billionaires don't drink and prefer diet soda to a nice expensive bottle of vino. Catsimatides' favorite bottle of wine: "One I'm not paying for."