Buffett, Gates urge billionaires: Give half your money to charity

[Madeline]

Warren Buffet is a fascinating man. He has been interviewed about this and has said he feels that giving your kids so much money they never have to work is disabling and wrong. I think Gates is sincere as well; both men seem to see huge concentrations of wealth as problematic.

I don't see the problem with either of them using publicity; it isn't as if their wills would have been probated without press coverage. Even Gary Coleman's estate is under scrutiny. Both seem to have strong feelings about philanthrophy and use their positions to try and persuade others in similar circumstances to join them.

I don't worship the rich but I do think their decisions are laudable.

 

[Ravi]

If they were really a class act, they wouldn't be doing this for publicity or pushing for this publically, but they would be doing it behind the scenes.

If you do it just to be seen, you lose any benefit you might recieve from the act.

If you do it for the benefit you might receive, then it doesn't count either.

 

[Douger]

Now. For the rest of the story.
Google Georgia guide stones and look at Buffet and Gates " charities" they are donating to.

 

[editec]

I know this probably sounds ridiculous, but gtiving away billions of dollars sensibly has GOT TO BE a very difficult task.

Harder even than investing it sensibly, I imagine.

After all, when you're investing in a for-profit, it's easier to measure the return on investment than it is when you're seeking to invest your charitable dollars.

I ponder this dilemma because I often wonder just exactly what the value of my labors are worth in real economic terms.

What numerical valuation does one put on providing books on line and translations of same, for example?

When some person takes joy in reading these books, or when they learn something that might help them in their future, how much is that worth really?

Now, I like to think that the time and money invested in my project is doing some good, but how much exactly?

What is the value (in dollar amounts) to making somebody happy, if but only for a brief time?

We cannot REALLY know, can we?

All my statistics about how many people come, how many pages they read, how long they're online, and so forth?

Well...they tell me some things about my users and their interaction with my project, to be sure. All quantifyable and all numeric indicators that I am having SOME impact.

But how do I quantify that into dollar amounts such that I can be assured that I am wisely investing my time and my money? (And the money of others and their time, too?)

Now imagine that you are a billionaire facing making many such charitable investments.

Quantifying the PUBLIC GOOD is one of those areas where we are for the most part, I think, pretty much flying by the seat of our pants.

 

[CrusaderFrank]

What a fucking joke!

They each set up foundations to AVOID the taxation! They gave NOTHING away!

 

[CrusaderFrank]

now. For the rest of the story.
Google georgia guide stones and look at buffet and gates " charities" they are donating to.

bingo!!!

 

[Care4all]

What a fucking joke!

They each set up foundations to AVOID the taxation! They gave NOTHING away!

gosh, pretty jealous, eh?

you are being an ass, as usual....

what they are doing of their own free will with there money on charity IS A GOOD THING......

convincing other billionaires to do the same thing is GOOD.

period!

 

[Gadawg73]

The Give to Gadawg73 Foundation is now open for business.

 

[Care4all]

The Give to Gadawg73 Foundation is now open for business.

the give to care4all foundation is now OPEN as well!

 

[CrusaderFrank]

While Gates's methods at Microsoft have been questioned from time to time, him and especially Buffett are class acts.

LOLZ!


So the cost of an Indulgence for being an Evil Capitalist is to enjoy a rollicking good time while one is alive, and the leave the dough to charity.

Well - it's better than the government getting it via massive inheritance taxes, and the heirs can just work for the charitable trust and pay themselves massive salaries.

massive inheritance taxes? really?

i believe right now there's no inheritance taxes. i'm sure you'll be pleased to know that paris hilton's daddy's fortune would be passed to her whole. starting next year, the first million is tax free, and that doesn't take exemptions into consideration.

Estate tax in the United States - Wikipedia, the free encyclopedia

Are you suggesting that Gates and Buffet die now to avoid paying tax on money they gave to their foundations years ago? What?

 

[rdean]

It's nice hearing many of my posts being echoed by these heavy hitters.

Some will call this a "re-distribution" of wealth.

I've said that it's wrong to just squeeze every cent out of this country that you can get without putting some back for the next generations of entrepreneurs. If you make a billion dollars here, you have an obligation to keep that going by supporting the place where you made a billion dollars.

Republicans think that's crazy. We are paying the lowest tax rate in 50 years and still they protest it's "too much". Talk about the "greedy" inheriting the earth.

 

[CrusaderFrank]

Why didn't they advise that billionaires set up their own charitable foundations?

Do as we say, not as we do.

 

[Care4all]

It's nice hearing many of my posts being echoed by these heavy hitters.

Some will call this a "re-distribution" of wealth.

I've said that it's wrong to just squeeze every cent out of this country that you can get without putting some back for the next generations of entrepreneurs. If you make a billion dollars here, you have an obligation to keep that going by supporting the place where you made a billion dollars.

Republicans think that's crazy. We are paying the lowest tax rate in 50 years and still they protest it's "too much". Talk about the "greedy" inheriting the earth.

only for a time, times and half a time....3.5 years will the greedy outright rule, then the MEEK inherit the earth according to Bible prophesy..... the greedy get wiped off of the face of the earth.

i KNOW you don't believe any of it, but i humbly take solace in it.