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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forums11 more American billionaires join Gates, Buffett charity pledge By Agence France-Presse
11 more American billionaires join Gates, Buffett charity pledge
By Agence France-Presse
Wednesday, September 19, 2012 4:32 EDT
Eleven billionaires added their names Tuesday to the effort by Bill Gates and Warren Buffett to donate half their fortunes to charity, bringing the total to 92.
The newest members of the club include Netflix chief executive Reed Hastings, Intel co-founder Gordon Moore, and Charles Bronfman, the Canadian-born former head of Seagram Co.
The Giving Pledge, announced in 2010, was launched by Microsoft mogul Gates and investment guru Buffett who want to convince the richest people in the country to give 50 percent or more of their fortune to charity.
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 Buffett and Gates.
Weve said from the beginning that this is a long-term effort, so its exciting to see continued progress over the last two years, said Gates, who is co-chair of the Bill & Melinda Gates Foundation.
This new group brings extensive business and philanthropic experience that will enrich the conversation about how to make philanthropy as impactful as possible. Their thoughtfulness and deep commitment to philanthropy are an inspiration to me, and Im sure to many others as well.
more...
http://www.rawstory.com/rs/2012/09/19/11-more-american-billionaires-join-gates-buffett-charity-pledge/
Hutzpa
(11,461 posts)these are the guys that I believe are genuine businessmen who are being bamboozle by organized crime, which I
might add is better known today as American Enterprise.
These guys understand that the government is needed to protect those whom they can't help financially and so needs
the government for that safety net whenever they fall, while American Enterprise does not believe in distribution.
You can put Rmoney in that American Enterprise category, yes I said it.
Luminous Animal
(27,310 posts)One of Gates idea of "charity" is privatizing public education.
SickOfTheOnePct
(7,290 posts)for a government provided social safety net, but I'm betting that the donated funds will provide more goods and services to the needy than would be provided by the tax amount the government is losing due to the donations.
Hutzpa
(11,461 posts)it is more about creating an opportunity, the same opportunity they had when they were struggling. It is easier to
forget where you came from once you've made it, my only hope is that they keep their organisation clean from
the real moochers.
Luminous Animal
(27,310 posts)Providing services directly, such as health care & education, is the most efficient way to provide services.
Charitable foundations will control the agenda, they will dangle money in front of cash starved public institutions with the demand that the public subsume control to that of the foundation (see conscience clause) . Also, these billionaires are making no promises that their charitable donations will reach the needy. Their are plenty of charitable organizations that supply goods and services to the middle and upper classes (orchestras, museums, opera houses, charter schools, art and wine & food festivals, farmers markets...)
The western countries that have a comprehensive and healthy social safety net are also countries that have low domestic charity programs. They don't need them and their entire society is healthier for it.
SickOfTheOnePct
(7,290 posts)I think the pledge is great, and I think the billionaires should be applauded for it. I'm of the opinion that the money will be better spent by the charities than by the government.
I don't agree that distributing cash is always the most efficient way to distribute goods. For example, a food bank is much more efficient in distributing food to the needy than providing cash for buying groceries. Food banks are able to stretch their dollars much further and provide more bang for the buck than an individual shopper can hope to do.
Luminous Animal
(27,310 posts)And the donors get to write off the entire production cost of their failed products. I've volunteered in food banks. Stacks and stacks of sodas and snacks that didn't make the market and pounds of pounds of fresh food that, if not cooked in one or two days, would be a pile of mold and that they pack in 2'x4' bags that no "needy" person could cook in a day. Food banks are a conduit for the poverty pimps. A vessel for them to advertise that the are doing something for the "needy" by doing nothing more than writing off excess inventory.
Eliminate the poverty pimps and put that cash savings into citizens hands.
SickOfTheOnePct
(7,290 posts)And my experience is nothing like yours. A large truck is there, full of fresh produce, there are tables full of pasta, canned goods, cereals, rice, beans, etc. And not a soda in sight.
Like I said, we'll just agree to disagree on the usefulness of charity.