The billionaires who want to pay more tax
Business Daily
BBC
4.4 • 816 Ratings
🗓️ 12 November 2019
⏱️ 19 minutes
🧾️ Download transcript
Summary
Liesel Pritzker Simmons and her husband Ian Simmons are billionaires who come from successful US business families. Liesel's family is best known for founding Hyatt hotels. Both say the the US government should be collecting more tax from super-rich people like them. We asked them why. And Dr Ted Klontz, associate professor of practice and financial psychology at Creighton University in the US, explains the psychology of a billionaire.
(Photo: A gold Ferrari parked outside an expensive boutique in London, Credit: Getty Images)
Transcript
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| 0:00.0 | Hello and welcome to Business Daily from the BBC. |
| 0:05.0 | I'm Manuel Saragossa. |
| 0:07.0 | Coming up, the billionaires who want the government to tax them more. |
| 0:11.0 | I live in a lovely, affluent bubble. |
| 0:14.0 | I'm not a great person to be deciding this is where public money should be spent. |
| 0:20.0 | I want to absolve myself of that and put that back |
| 0:24.6 | in the hands of politicians to make those decisions. Plus the problems of the super rich. |
| 0:29.8 | They come to me because they go, you know, I know another million, 10 million, 100 billion, |
| 0:36.8 | another billion. That's not it. I don't know what |
| 0:40.0 | it is, but I know that more of that is not going to give it to me. That's all here in Business |
| 0:44.8 | Daily from the BBC. Most of us can only ever dream of owning a fortune worth a billion dollars or more. |
| 0:55.0 | And many of us would probably be very happy to settle for a mere minuscule fraction of that. |
| 1:00.6 | So what's it like to be ultra super rich, rich beyond your wildest dreams? |
| 1:05.9 | Particularly at a time when economic inequality is a growing political issue around the world and the mood |
| 1:12.1 | appears to be turning against the Uber wealthy. |
| 1:15.2 | In yesterday's edition of Business Daily, we talked about the wealth tax on the richest that |
| 1:19.8 | some democratic presidential contenders are proposing ahead of American elections next year. |
| 1:25.9 | Today we hear from billionaires who are in favor of that wealth tax and are actually |
| 1:30.4 | campaigning for it. |
| 1:32.2 | They are Liesel Pritzka Simmons and her husband Ian Simmons, co-founders and principles of Blue Haven |
| 1:37.8 | initiatives in the U.S. I started by asking them, how did they get so rich? |
| 1:42.7 | I am the third generation from a business family in the |
... |
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