How Long Would The Us Government Run If All The Billionares Gave Them Their Money
Brussels/New York: How many days could the government go on running if the richest person of each land was paying for information technology? Nosotros created the 2018 Robin Hood Index to delve into the subject.
We took 49 countries with various political regimes and expenditure types and the richest individuals of each of these nations. We and then compared their net worth as of stop-Dec 2017 to the daily toll of running each government. Past the way, only four out of the 49 on the list are women: in Republic of angola, Commonwealth of australia, Chile and the Netherlands.
The index compares the cyberspace worth of each state's wealthiest person to his/her government'due south spending. If, hypothetically, each government were to run out of resources imminently and the assets of the richest citizen were liquidated and donated to the government, the index estimates how long can this "funding" prevent the respective regime from shutting downwardly offices and agencies. The Bloomberg Billionaires Alphabetize and the International Budgetary Fund'southward estimates of authorities spending were our building blocks.
Cyprus'due south richest human being, John Fredriksen, could keep his authorities running for 441 days. With projected 2018 expenditures of $23.6 million, a small population and therefore smaller costs on social security and welfare, advantageous tax policies and an economic system centered around tourism and services, Republic of cyprus would benefit the longest from Fredriksen's $10 billion fortune.
In comparison, the most expensive governments to run are Japan, Poland, the Us and China, where Jack Ma, the world's 16th richest person with $47.8 billion, could salvage the Communist Party for four days. Jeff Bezos wouldn't fare much better, even with $99 billion. With the highest government spending on the Robin Hood Index, the earth's richest man would just help the Us authorities for five days, as much as Hugh Grosvenor in the United kingdom of great britain and northern ireland and Dieter Schwarz in Germany.
Quantifying government costs for each nation and what they would do with free coin is hard because there are enough of other considerations to take into business relationship. Some of them may non even take a cost per se — bureaucracy — or may depend more than or less on policy and which ones each government will choose to pursue, spending more on transport and less on defence force etc. Withal, one can see from the Robin Hood Alphabetize that virtually Western nations could not concur the fort very long, even with the help of the richest citizens.
Still, as an intellectual exercise, ane can only imagine what the most affluent in 49 countries, with an estimated wealth of $911 billion, or 1% of the world'southward 2018 gross domestic product, can do with their coin that government tin can't resolve on their ain. Bloomberg
Source: https://www.livemint.com/Politics/KcB8d8jnPCihWMaiJPYWOL/What-if-the-worlds-richest-paid-for-government-spending.html
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