this post was submitted on 20 Mar 2025
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They could, but they won't.
Maybe if they all teamed up and were organized to do so. But a tiny handful of billionaires control as much wealth as the millionaires. It's much harder for a class to voluntarily do good than for a small handful of people. That's why society needs to step in, tax them, and distribute to projects as needed.
Back during the gilded age and earlier it was common for wealthy individuals to found public services like hospitals and schools partly because these services were unlikely to exist without a wealthy benefactor to create them, so they'd found them with their own family and friends in mind first, but also as a hedge on helping improve their public image as the lack of any protections for the working class created literal battles between the working class and mercenaries hired by the owning class