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Thread: 40 US billionaires pledge half wealth to charity

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    40 US billionaires pledge half wealth to charity

    NEW YORK — Forty of America's billionaires and their families pledged Wednesday to give more than half of their fortune to charity in a drive organized by Bill Gates and Warren Buffett.


    The group includes CNN founder Ted Turner, New York Mayor Michael Bloomberg, Oracle co-founder Larry Ellison and Hollywood director George Lucas, as well as Microsoft mogul Gates and investment guru Buffett.


    The idea, announced just six weeks ago as "The Giving Pledge," was thought up by Gates and Buffett to convince billionaires to give most of their money -- 50 percent or more -- to charity.
    The total from this drive alone totals well over half a trillion dollars, if the rest of the billionaires follow suit. With that in mind, I ask this? Who the hell needs the government, when the money they collect is squandered on operating expenses? Want to end hunger in America? I think Gates and company have found the perfect way to do it.

    Now, about ending those Bush tax cuts?. A few years down the road, I believe that Gates and others will ask "How's that working out for you?"

    Article is here.
    Last edited by danarhea; 08-04-10 at 03:45 PM.
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    Re: 40 US billionaires pledge half wealth to charity

    Quote Originally Posted by danarhea View Post
    Who the hell needs the government, when the money they collect is squandered on operating expenses? Want to end hunger in America? I think Gates and company have found the perfect way to do it.
    Those "operating expenses" you bemoan just go to stimulate the economy, so I don't really see them as a problem. What do see as a problem is forty rich people have that sort of money to give or withhold. Wouldn't it be better if we did something to prevent such obscene amounts of money from pooling into the hands forty people in the first place?

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    Re: 40 US billionaires pledge half wealth to charity

    $600 billion eh? That's less than what we're spending on SS this year.

    I hope a good portion of this charity dough is going towards health research or something similar. I like to see a sustainable return when real money is actually thrown around, not that play money Washington thinks they're using.
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    Re: 40 US billionaires pledge half wealth to charity

    Quote Originally Posted by WingsOfDesire View Post
    $600 billion eh? That's less than what we're spending on SS this year.

    I hope a good portion of this charity dough is going towards health research or something similar. I like to see a sustainable return when real money is actually thrown around, not that play money Washington thinks they're using.
    Like an incurable disease research organization funded with $600 billion?
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: 40 US billionaires pledge half wealth to charity

    Quote Originally Posted by Guy Incognito View Post
    Those "operating expenses" you bemoan just go to stimulate the economy, so I don't really see them as a problem. What do see as a problem is forty rich people have that sort of money to give or withhold. Wouldn't it be better if we did something to prevent such obscene amounts of money from pooling into the hands forty people in the first place?
    without raping the constitution, destroying freedom or creating an even more parasitic government, how do you propose ending such "obscene" concentrations of wealth?

    sorry your goal is pernicious and any method you can propose to achieve that end will be malignant.



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    Re: 40 US billionaires pledge half wealth to charity

    Quote Originally Posted by danarhea View Post
    The total from this drive alone totals well over half a trillion dollars, if the rest of the billionaires follow suit. With that in mind, I ask this? Who the hell needs the government, when the money they collect is squandered on operating expenses? Want to end hunger in America? I think Gates and company have found the perfect way to do it.

    Now, about ending those Bush tax cuts?. A few years down the road, I believe that Gates and others will ask "How's that working out for you?"

    Article is here.
    the death confiscation tax (which Buffett and Gates will avoid altogether) doesn't hurt the truly super wealthy because their wealth will regenerate itself in less than 20 years after the tax hits because so little of it is spent. The death confiscation tax really crushes small businesses, family farms and modest estates in the 2-30 million range-especially if a large amount of the assets are non-revenue generating (such as an art collection, non-farmed land or an expensive home)



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    Re: 40 US billionaires pledge half wealth to charity

    Quote Originally Posted by Guy Incognito View Post
    Those "operating expenses" you bemoan just go to stimulate the economy, so I don't really see them as a problem. What do see as a problem is forty rich people have that sort of money to give or withhold. Wouldn't it be better if we did something to prevent such obscene amounts of money from pooling into the hands forty people in the first place?
    I haven't been here that long, but this is one of the most absurd (yet serious) posts I've read on DB. That's just plain scarey.
    The devil whispered in my ear, "You cannot withstand the storm." I whispered back, "I am ​the storm."

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    Re: 40 US billionaires pledge half wealth to charity

    Quote Originally Posted by MaggieD View Post
    I haven't been here that long, but this is one of the most absurd (yet serious) posts I've read on DB. That's just plain scarey.
    I agree, the fascist or totalitarian sentiments are enough to cause me to buy another 1000 rounds of Israeli Armor piercing 7.62 ball for my Sniper rifle



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    Re: 40 US billionaires pledge half wealth to charity

    Quote Originally Posted by Goldenboy219 View Post
    Like an incurable disease research organization funded with $600 billion?
    Not to be callous but for most incurable diseases there simply aren't enough people effected by them to be worth putting $600 billion towards it. Two exceptions are probably Alzheimer's and AIDS (the latter particularly in Africa).

    Personally, I think this is a great example of one thing: people are basically good and you don't need to force people to be so through government power. Nobody was holding a gun to these people's heads to force this like they do with taxes for welfare. This just illustrates a key difference between false and real generosity. False generosity is a politician establishing welfare programs with other people's money. Real generosity is people giving their own money to help others.

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    Re: 40 US billionaires pledge half wealth to charity

    Quote Originally Posted by Civil1z@tion View Post
    Not to be callous but for most incurable diseases there simply aren't enough people effected by them to be worth putting $600 billion towards it. Two exceptions are probably Alzheimer's and AIDS (the latter particularly in Africa).

    Personally, I think this is a great example of one thing: people are basically good and you don't need to force people to be so through government power. Nobody was holding a gun to these people's heads to force this like they do with taxes for welfare. This just illustrates a key difference between false and real generosity. False generosity is a politician establishing welfare programs with other people's money. Real generosity is people giving their own money to help others.
    Uhhhh, cancer?? Otherwise, great post!

    Edit: Maybe that's a very good USE for their money...funding research on those orphan diseases that don't "pay" for pharma to go after.
    Last edited by MaggieD; 08-04-10 at 07:06 PM.
    The devil whispered in my ear, "You cannot withstand the storm." I whispered back, "I am ​the storm."

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