More billionaires pledge to give away wealth

[cory777]

Source: Reuters

(Reuters) - Another 17 U.S. billionaires, including Facebook co-founders Mark Zuckerberg and Dustin Moskovitz, have pledged to give away at least half their fortunes in a philanthropic campaign led by Warren Buffett and Bill Gates.

A total of 57 billionaires now have joined The Giving Pledge, which was launched by Microsoft founder Gates and investor Buffett in June. The campaign announced the new pledges in a statement late on Wednesday.

Gates, his wife Melinda, and Buffett have asked U.S. billionaires to give away at least half their wealth during their lifetime or after their death, and to publicly state their intention with a letter explaining their decision.

The Giving Pledge does not accept money or tell people how to donate their money but asks billionaires to make a moral commitment to give their fortunes to charity.

Read more: http://www.reuters.com/article/idUSTRE6B818R20101209

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Activist News http://activistnews.blogspot.com/

[indimuse]

1. God bless them! knr!!

;)

[Sherman A1]

2. Charming

since they have worked so damn hard to steal it from everyone else.:grr:

[24601]

3. More billionaires spending their money like they want rather than

on bolstering needs like critical infrastructure. Sorry if my enthusiasm meter is less than pegged. The idea that citizens can make these decisions better than the government threatens the whole tax base if it spreads beyond the super-rich.

[DainBramaged]

4. (Hand raised) I'll take a bit please.....

[tomg]

5. I am honestly of two minds

on this. When I hear Buffett and other publicly come out against the continued tax cuts for themselves and others, I have to applaud them. In the face of the government's inaction on this issue, I see this as a good. So I am not going to question their motives, although personaly I do think that they are coming from a spirit of altruism (although i have no evidence either way).

Now what I see as the two very serious downsides - not what they are doing, per se, but the inevitable Republican spin. It will simply allow the Republicans to suggest that in the realm of social services, all we really need is a group of economically advantaged individuals in a robust free market showing their true spirits through their philanthropy. The old noblesse oblige. Not exactly the most effective way to get roads built or schools funded.

And this is the real downside. Gates, Buffett and others are going to contribute to those areas where they see the most need - and they are going to support the programs that they feel best address the problem. All we need to do is look at their recent contributions in the area of education. In short, our educational system, our health care, our entire social services will be the model that they want. I think that their educational solutions are weak.

Again, i am not questioning their motives. I don't know them and I really have no way of judging these particular individuals (as a collective group, I think the rich are, well, the rich). As to what will probably become policy ( or at least make it harder to reform tax policy so it is ore just) and how those policies will play out in programs, it deeply concerns me.

[klook]

7. Very well said.

This is what Arianna Huffington has said was a turning point for her -- realizing that all the philanthropic contributions, foundations, etc. were a drop in the bucket compared to the enormous resources that the federal government can bring to bear on a problem.

I agree that we should applaud the billionaires and millionaires who make generous targeted donations to social causes. I just wish more of them would advocate for broad social funding from tax revenues to benefit all Americans, not just the lucky few who benefit from their largesse.

[Blandocyte]

6. I would so totally be doing the same thing if I was a billionaire

Really! I promise!

[ipaint]

8. Returning a portion of their stolen wealth when they don't "need" it anymore is not

philanthropic.

Top international parasites pledge to pillage and plunder to a slightly lesser degree as long as the tax laws are favorable and they can realize a hefty return on their generosity.

[Cal Carpenter]

9. how sweet

:eyes:

[lunatica]

10. Why don't they create jobs for those who now need charity?

How about creating a capital investment fund for start-up businesses? Do something that creates jobs for chrissake.

[tridim]

11. Our new kinder, gentler corporate overlords!

Americans are going to eat up this new form of fuzzy fascism.

It's exactly like Mom's "MomCorp" in Futurama.

I don't think all rich people are bad, but some definitely have ulterior motives. Big ones.

[AC_Mem]

12. How would YOU give away half your billions?

Source: MSNBC

NEW YORK — Another 17 U.S. billionaires, including Facebook co-founders Mark Zuckerberg and Dustin Moskovitz, have pledged to give away at least half their fortunes in a philanthropic campaign led by Warren Buffett and Bill Gates.

<snip>

Read more: http://www.msnbc.msn.com/id/40582683/ns/us_news-giving/

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At the point where you become a BILLIONAIRE, you and generations to come will live rich lives. Why wouldn't these billionaires help others? It feels good! In these economic times, some billiionaires are probably dealing with just a little bit of guilt as well - especially since Americans are quickly becoming aware of the great distances between the very wealthy and the very poor.

What I would love to see - if a billionaire was going to give away money, how about offering it to people in need - directly to people who are struggling with their bills RIGHT NOW. The 99'ers for instance, or elderly people who are now looking at poverty or lack of health care because of the economy.

IF I WERE A BILLIONAIRE, I would give to Faces, not just to Causes. I would set up a website where people could send me their stories, attach their bills that they cannot pay, and I would have people just pay them. Maybe set up a college that would take students based on their INABILITY to pay for their education but are smart and devoted to making their lives better. Pay the teachers a great salary, stock the school with everything it needs to give each student the opportunity to be a success in life.

I would buy up land and start organic and free range farming and give people jobs.

I would create day care centers that provided a safe, educational environment for children who's mothers are working but cannot afford the high cost of daycare.

I would pay the government my fair share in taxes for my entire wealth before I started giving it away.

I would open a healing centers and teach people about WELLNESS and have them teach others.

Hey - this is kind of fun!

How would YOU give away half of your billions? Your family and immediate circle are taken care of - think beyond that!

[trotsky]

13. In an oddly paradoxical move...

I would lobby HEAVILY to get rid of the overwhelming influence of money and corporations in our government.

I think with that accomplished, most of the other items on your list would naturally follow.

[ejpoeta]

15. +1

[ejpoeta]

14. this is like what would you do if you won the lottery which my husband and i play.

there is a nice family with a foundation that sends free books to preschoolers. we said we'd give them enough to spread out of just our little town. such a good program dolly parton started natinwide called the R.E.D. express. invest in our local library that has only just digitalized their catalog. expand town water throughout our town. we are the last house that can get broadband... maybe we could expand the availability. provide all students at the school with laptops.

[Coventina]

16. I'd work on global climate change.

I can't give you specifics, because I'm not a scientist, but I'd hire the best minds out there and fund their ideas.

[AC_Mem]

18. Excellent!

And I thought of another idea - I would give create a company that would find inventions from every day Americans and bring them to life. The inventions that look like they could be successful and helpful would be funded with "seed money" for the inventor to set up his small business and hire people - they would have a safety net for 2 years while they launched their small business and assisted with loans (secured from banks that would want to work with me because of all my billions). Training on all aspects of running a compassionate and profitable business would be provided.

Annette

[iandhr]

17. I would invest

in a urban development program for distressed urban areas and have programs for education and job training

[liberal N proud]

19. Drive an armored truck to the poorest neighborhoods

And pass out stacks of cash, unannounced and no strings attached.

Merry Christmas.

But I will never have that opportunity, I am just hoping to have a job long enough to retire and see some of my Social Security benefits. Doubt that will happen either.

[InvisibleTouch]

20. I would give to animal welfare and protection of endangered species.

That's always been my first priority.

[JustABozoOnThisBus]

21. I'd just pledge to give half away

pledges are cheap, like BP's pledge to give 20 billion to oil victims.

But pledges will get me on Oprah, and get me invited to the best parties.

Let's see how many actually follow through on the pledge.

[xor]

34. I'd build a rocket and send it to the moon just to confuse the hell out of everyone...

I'd tell them the first one to get it can keep it. Well maybe Mars, as I don't think the moon is hard enough.

[Igel]

22. Education.

I'd set up a small apparatus to solicit recommendations from 5th- and 6th-grade teachers.

Kids would receive lessons in some traditional craft or art, in exchange for keeping up their grades. Tutors and counsellors would be available to help with academic problems and acculturation as well as with college applications. Stipend, supplies, even instruments and transportation would be provided. Upon graduation the kids would receive free college tuition/expenses with a small stipend; they would be required to make adequate progress to a degree in math, science, or engineering; they'd be strongly encouraged to continue training in their art/craft or to double major, but if their mid-term course schedule said "psych major" or "geography" they'd immediately be on their own.

Tuition and even a stipend could be extended to include grad school through the master's level, either in the science/engineering field or in their art/craft.

[coyote]

23. Looks like the rich are afraid....

I think they are afraid we might eat them.

I think we will be seeing more of the these stories. We are reaching a tipping point.

[Liberalynn]

24. Don't mean to be cynical

but it seems a lot more like an attempt at damage control then it is genuine altruism.

[Starry Messenger]

25. They need to be taxed at a higher rate.

They love doing this for the tax breaks and plus they can direct their dough into social engineering "hobbies".

[golfguru]

26. The best impact would be if IRS published a list of voluntary

donations to US Treasury by all rich tax payers.

[Liberalynn]

27. That would be nice

[newscott]

28. I'll take my billion in twenties please.

[Agent William]

29. I don't mean to bring up his name.

But didn't Ralph Nader write a book called ''Only the Super-rich Can save US''... seems to me that perhaps he is on to something.

I don't care what anyone does in life.. I can't conceive of a way where anyone is worth $billions of their lifetimes..

[Creative]

30. It kind of makes you wonder why so many hate the rich.

[Turborama]

31. Facebook founder Zuckerberg to give away most of wealth

Source: BBC

December 09 2010 | Last updated at 22:05 GMT

Facebook co-founder Mark Zuckerberg has become one of the latest billionaires to pledge to give away the majority of his wealth.

He is one of 17 new people to support a group, founded by Bill Gates and his wife along with Warren Buffett, which encourages America's wealthiest to publicly promise to donate to charity. At 26, Mark Zuckerberg is one of the youngest to sign up.

=snip=

"People wait until late in their career to give back. But why wait when there is so much to be done?" he asked in a statement.

=snip=

Mr Zuckerberg, estimated to be worth $6.9bn (£4.4bn), was placed 35th in this year's Forbes list of the richest people in the US

Read more: http://www.bbc.co.uk/news/business-11965656

[renate]

32. I'm not a big Facebook fan (privacy issues) but I'll give credit where credit is due

Good for him.

(I read an article in the New Yorker about him, and his girlfriend sounds very nice. Down-to-earth and sensible and so on. I also have the same impression of Melinda Gates.)

:thumbsup:

[John Kerry VonErich]

35. just giving and whom they're giving to are two different things

I'm just sayin

[some guy]

33. I think

it would be better, if instead of giving to charity, they would pool their wealth, focus on something like infrastructure, and set up a non-profit business to start building environmentally sustainable projects - transportation (high-speed rail?), or the electrical grid -something that needs funding, and put people to work.

Union wages of course.

I think it would have the double effect of
a) making an improvement in society and the people who comprise it
b) demonstrating how expensive these types of projects actually are, and why government funding (and taxation) is necessary.