<Source: Fortune Magazine>
It's really easy and cliche to "hate the rich people." I know that I've discussed this topic before, in the context of celebrities and their gifts to philanthropic organizations and causes, but those are people who are paid for doing something of little consequence, although many of their gifts have totaled millions of dollars.
Now, I do not believe that it is the responsibility of any person, no matter how wealthy, to donate their money to anyone, but I do have respect for those people who do. It is an ethically good action, if not an ethically required action (no one can demand that one cede one's money).
Where is all of this going? The title should clue you in. According to the magazine article, Warren Buffett is poised to donate 37 billion dollars in stock shares to a variety of organizations, with the primary organization being the Bill and Melinda Gates foundation. The article notes that this would be the largest philanthropic donation in history. No one could have rightfully demanded that he give up his money in this fashion. He worked hard for it, and, whether or not we agree with the executive pay scales in this country, he earned the money.
And yet he has chosen to give it to organizations dedicated to helping the needy. The fact that he made this choice in this manner is a measure of his character, which seems to be extremely good. It's also evidence that wealthy people, when given the chance, are not always the "selfish, arrogant" people that we sometimes assume that they are.
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Wow. No wonder Bill Gates is stepping down from Microsoft to spend more time on his foundation. Maybe some day Progressive U can get a little bit of that money.
Not all rich people are bad. Many still have a conscience, and people who are part of the progressive movement would be foolish not to seek out such people, pitch our issues and proposals, and use some of that money to make the world a better place.
Sorry, dude. It's not money that's going to make this a better world. It doesn't help to give bns of $ to people if people in general are rotten.
Take a look around. About the only thing that can fix the attitudes of the people in this world is a meteorite.
The Warren Buffet giveaway is a classic of American Competitive Altruism. This is an interesting concept that is explored in fair detail in two articles by Ian Jobling. Here's the reference to them, they do a good job parsing this behavior.
www.amren.com/0311issue/0311issue.html
and
www.amren.com/030issue/030issue.html
It would be good reading if it weren't so damned distressing.
That's what's up!!! Looking at your arguments, you have a valid point. I used to think that celebs who didn't donate their money were being selfish or the ones who did, but not enough to my standards were also being selfish. I see it as what are you going to do with it all??? But anyways, he is AMAZING for giving up that kind of dough. I also heard Gates was stepping down...
Thank God for people like Warren Buffett.
My husband is a small business man who is in debt, he is 65 and as so many small bussinesses we are suffering and not sure how we will get out of this. Retiring is not an option for him.
Does Mr. Buffett ever help people like us who need a break.?
I thank God for people like Warren Buffett.
My husband has a small business and with the economy the way it is we see no way of getting on top of our finances. He is 65 and retirement is not an option for him.
Does Mr. Buffett ever help people in small businesses with financial problems?
A reply would be appreciated
Thank you
Hopefully not, Bobbi. Hopefully Gates' charity is addressing people who are starving and, y'know, actually genuinely need the money?
of course Warren Buffet doesn't give money to people like you you selfish person. He gives money to needy causes where governments can't afford to give. So go ask the U.S. Government for money.
Maybe your husbands business plan is not sound, unlike those of Buffet's company
Why do you and your husband deserve money because your not going to be able to retire? Why do you think you are entitled to even retire?? You should have prepared for your retirement. Take responsibility for yourself and stop looking for handouts, seriously.
Better still...
Whatever might be the intentions, untill some result comes out and a pre-assumption is proved, it is better to support the cause and hence the donation of Warren Buffet to Bill and Melinda Gates foundation.
One question that naturally comes to mind is that , why should Buffet give all the money to only one charitable organization and not divide the money , and that too, to someone who is his close friend?
However, it is good in the other sense that if money is given in good amounts to a single person, it is more probable to be useful and aslo it becomes a good start for the projects.
Now, lets support Buffet because my heart says, he has done too much of business. so much of it that he has come to know that the real business is in not doing it.
Bobby you are an idiot.
No wonder your business is going down.
There is no need to call people names and demoralize them. If you think Bobbie made a "stupid comment", then you can respond in a mature grown up way.
I remeber Mr. Buffet speaking on television about wealth. He said that he doesn't believe in throwing money at any problem. He followed by saying he believes that educating a person goes a lot farther than giving away cash.
Are you kidding?
You can't retire..poor you!!!!
How about no food, water or shelter when it rains?
Greedy pigs, no wonder your business plan is a flop. Probably trying to screw people over for every dime you can.
You can't retire, well who do you have to blame for that...the government, the job you had before you left to start your own or maybe poor planning on your part. 65 years old is what you say, maybe the retirement plan should have been figured out 30 years ago. Maybe we shold tell you what to do with your money.
I think we should cut 'Bobbi' a little slack. The trend toward greater responsibilization in society today (especially in the U.S.) has led, in my opinion, to the rather insensitive comments listed above. It is not unreasonable for the aging population in wealthy societies to expect some form of assistance for their life-long contribution to society. Sure there is greater need elsewhere, but you have to consider the expectations one grows up with, the moral environment within which they live, and so forth.
As to the money Mr. Buffet has given away, I think that it is indeed laudable, precisely because we do not EXPECT it from him (what this says about us as a society I leave for the reader to decide). We presume he worked hard (as one other commentator said), though even this is not a requirement for entitlement is it? If it was then we would look down upon all those who have benefitted from inherited wealth. Of course, others work hard too, alot even harder, and for a lot less money, A LOT LESS (perhaps Bobbi's husband fits here). Maybe they made bad investments, maybe had some bad 'luck', maybe they got sick, etc. The point is that it is a shame I think that we believe Buffet 'deserved' the money he had. Frankly, the fact that it took him this long to give all that away is something I find personally mmm troubling. I'd also like to add though that anyone else giving their comparatively meagre earnings, and especially their TIME (who after all would not trade money for time when the reaper comes calling?) to 'worthy' causes are even more laudable than Mr. Buffet, who is in the unique, and I think ridiculous position of being like a God because he gave away SO much money (earlier commentators thanked 'God' when they were really thanking Mr. Buffet). Not only should the proportion of one's gift be considered in relationship to their total assets, but so should the standard of living that they leave themselves with afterward.
Just a few rambling thoughts...
I would just like to comment on these statements from the previous blog
"The fact that it took him so long to give all that away I find personally mmm troubling"
Ok first of all, how do you think buffet amassed such a fortune? For example lets say that Buffet decided to give away 80% of his fortune 30 years ago. It might be worth 5% of what is is today. The reason he waited so long to give his money away is becuase he can grow the money at a faster rate and therefore has a large enough amount so that a perpetuity can be formed and the principal will never be depleated.
"Not only should the proportion of ones assets be considered in relationship to their total assets, but so should the standard of living they leave behind"
Warren Buffet lives in the same house he lived in before he amassed his fortune, he also only takes $150,000 a year to live of of, and furthermore he gave away 80% of his fortune. 80%!!!
Although you sound very educated, meaning that you can write fairly well and you have a somewhat large and persuading vocabulary, your argument is not accurate and needs some work.
You should read the book "how to pick stocks like warren buffet"
You may learn a few things about his life and about his stratagy before you ridicule him.
One more thing. How much money have you given to a chairity in the last year and what does this amount represent of your total assets???
As a reply to your reply: my point was not to 'ridicule' Buffet, but the system within which we are embedded. You did pick out the only comment that could be construed that way: that I found it 'troubling' how long he took to give away his money. My use of this word was meant to indicate that I did not know WHY he waited as long as he did, and that I found it 'troubling'. If in fact he planned all along to give away all this money, knew that he would have more as the years went by than less, harmed people in the least possible way whilst amassing it, etc., then I suppose I would indeed find it less troubling.
My other comments were directed at the 'system', and were meant to point out the praiseworthy but unpublicized actions at the level of the very 'small' contributions that are made everyday, but should not, at least in our eyes, be any the less laudable (particularly I think the free giving of one's time).
The discrepency we find today between the rich and poor is really for me the primary issue, a discrepency that allows someone LIKE Buffet to be in the position he is in. (Side note: I read a couple of other comments, something to the logically fallacious effect that: charity A steals your money, so all charities steal your money, so don't give to charities... I hope that was a joke).
Now if you REALLY want to get down-and-dirty it 's always good advice to turn to Nietzsche: 'the noble human being, too, aids the unfortunate but not, or almost not, from pity, but more from an urge begotten by superfluity of power' (this was not incidentally a 'bad' thing as far as he was concerned, but then he thought democracy was contemptible because it held as an ideal the lowest common denominator).
Now after all that: am I glad he gave away all that money? Absolutely.
As a reply to your reply: my point was not to 'ridicule' Buffet, but the system within which we are embedded. You did pick out the only comment that could be construed that way: that I found it 'troubling' how long he took to give away his money. My use of this word was meant to indicate that I did not know WHY he waited as long as he did, and that I found it 'troubling'. If in fact he planned all along to give away all this money, knew that he would have more as the years went by than less, harmed people in the least possible way whilst amassing it, etc., then I suppose I would indeed find it less troubling.
My other comments were directed at the 'system', and were meant to point out the praiseworthy but unpublicized actions at the level of the very 'small' contributions that are made everyday, but should not, at least in our eyes, be any the less laudable (particularly I think the free giving of one's time).
The discrepency we find today between the rich and poor is really for me the primary issue, a discrepency that allows someone LIKE Buffet to be in the position he is in. (Side note: I read a couple of other comments, something to the logically fallacious effect that: charity A steals your money, so all charities steal your money, so don't give to charities... I hope that was a joke).
Now if you REALLY want to get down-and-dirty it 's always good advice to turn to Nietzsche: 'the noble human being, too, aids the unfortunate but not, or almost not, from pity, but more from an urge begotten by superfluity of power' (this was not incidentally a 'bad' thing as far as he was concerned, but then he thought democracy was contemptible because it held as an ideal the lowest common denominator).
Now after all that: am I glad he gave away all that money? Absolutely.
As a reply to your reply: my point was not to 'ridicule' Buffet, but the system within which we are embedded. You did pick out the only comment that could be construed that way: that I found it 'troubling' how long he took to give away his money. My use of this word was meant to indicate that I did not know WHY he waited as long as he did, and that I found it 'troubling'. If in fact he planned all along to give away all this money, knew that he would have more as the years went by than less, harmed people in the least possible way whilst amassing it, etc., then I suppose I would indeed find it less troubling.
My other comments were directed at the 'system', and were meant to point out the praiseworthy but unpublicized actions at the level of the very 'small' contributions that are made everyday, but should not, at least in our eyes, be any the less laudable (particularly I think the free giving of one's time).
The discrepency we find today between the rich and poor is really for me the primary issue, a discrepency that allows someone LIKE Buffet to be in the position he is in. (Side note: I read a couple of other comments, something to the logically fallacious effect that: charity A steals your money, so all charities steal your money, so don't give to charities... I hope that was a joke).
Now if you REALLY want to get down-and-dirty it 's always good advice to turn to Nietzsche: 'the noble human being, too, aids the unfortunate but not, or almost not, from pity, but more from an urge begotten by superfluity of power' (this was not incidentally a 'bad' thing as far as he was concerned, but then he thought democracy was contemptible because it held as an ideal the lowest common denominator).
Now after all that: am I glad he gave away all that money? Absolutely.
i bow to mr. buffet, great stuff there. anyway, giving money away for charity is stupid. why? let me enlighten you. Liveaid: Wheres the money? It was proven that 80% of that cash never reached their real destination for the first show, and i never heard of it again after the entire world concert tour. That silly english person that runs it, geldoff, he´s just a silly publicity seeker, another righteous superstar saviour. wow Let me tell you where the cash goes. In mozambique the president, his family, his business partners and his friends all lead very successfull lives, latest gen mercedes, big houses, lots of land. His wife is the biggest real estate investor in the country. Mozambique produces very little other than corruption. Where does the money come from? That´s right! You pay for it all!!
Please stop giving money away and make trade fair! If a man can sell what he produces on his fertile ground, he will work at it to make money. If you give money to charity chances are its gonna end up in the hands of disgusting people, who surelly deserve a 'nuremberg' trial of their own.
You are so correct. Hussein, Mugabe, OH, HECK, just name any crooked leader in third world countries! Guess WHO keeps the donations!?! What do you think keeps those countries poor and third world?
And The filthy rich think they can buy their way into heaven with their donations! Most rich don't even believe in anyone greater than they are!
We have people right her in the USA that need help. The liberal rich are always groaning about inequities, so why don't they help in their own countries? I am not talking about people that get all the handouts, I am talking about the ones who have worked all their lives but fell into severe debt to medical bills or crooked lenders? Now they have nothing and you want to put them down because they wonder where in the world is any help for those that have really tried to help themselves all their lives?
The filthy rich would rather showboat about helping someone in other countries. It doesn't impress me at all.
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