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joemama
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Billionaires giving away their money...for free

SEATTLE - Bill Gates and Warren Buffett, America's two richest people, are embarking on a campaign to persuade their super-rich peers to give half their fortune to charity in a move that could change the face of philanthropy.

The effort, if successful, could funnel a colossal amount of money into nonprofit groups. If the individuals on the Forbes 400 list of richest Americans pledged half their net worth to charity, that would amount to $600 billion, Fortune magazine says.
http://www.msnbc.msn.com/id/37731478/ns/us_news-giving

Personally, I think what a person does with their money is their own business...if billionaires want to spend it on hookers and blow then epic hookers and blow it is, and I can't do a damn thing about it but be envious. However, in this case they are trying to do something good...but is $600+ billion to charities really going improve the quality of life worldwide? How about investing in future technology, alternative energy sources, new business models etc...you know, things that create jobs and helps people have a sustainable quality of life increase? I'm not against charitable contributions and have done some myself...but I think we're kidding ourselves thinking every penny goes where it should and really makes a difference in someones life. What do you guys think?
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Old 06-16-2010, 01:02 PM joemama is offline  
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Lurker
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If they donate that money to charitable organizations it will never be seen and never be used for the purposes they intend. Why? Greed and corruption will ingrain itself overnight in these institutions and only those directly in line to get the money will profit.

Im not a charity expert, but a charity is a charity only as long as it surviving on the good will of the people. That good will is few and far in between and that IMHO is what keeps these organizations humble and honest.

But like a starving dog, if you give it a small piece it will take off your hand.

So I do not agree with improving quality of life worldwide. It just wont happen. When you give someone to much money they dont know what to do with it, their eyes go wild and they lose focus on whats important.

What should they do? Maybe setup a trust that pays an income to these organizations over the next 50 years, or setup a committee that will distribute the funds as an income to organizations who they will monitor, review, and scrutinize as using this money properly.
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Old 06-16-2010, 01:17 PM Lurker is offline  
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joemama
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My perspective may be skewed, but I see most charitable organizations as a way for wealthy people to feel less guilty about having so much more money than most people...not to mention a pretty sweet tax shelter. I feel that some charities do make a difference..but I follow the old saying "give a man a fish and he will eat tonight, teach him how to fish and he'll eat forever". (or something like that) A few planeloads of rice/beans/medicine to an impoverished country may make things temporarily more comfortable...but I just think the huge sums of money these guys are talking about could be put to use on things that will eventually improve the quality of life for EVERYONE on the planet.
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Old 06-16-2010, 01:34 PM joemama is offline  
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Chilly
 
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.but I follow the old saying "give a man a fish and he will eat tonight, teach him how to fish and he'll eat forever". (or something like that) A few planeloads of rice/beans/medicine to an impoverished country may make things temporarily more comfortable...

I think there are occasions where you have to feed the man while you teach him to fish. I'm for investing the money if people's futures, not just band-aiding their current problems, but sometimes you have to do a little of the latter while you work on the former.
Old 06-16-2010, 01:54 PM Chilly is offline  
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TheMorlock
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another MS antitrust trial coming up?
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Old 06-16-2010, 03:08 PM TheMorlock is offline  
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Xayd
 
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A few planeloads of rice/beans/medicine to an impoverished country may make things temporarily more comfortable...but I just think the huge sums of money these guys are talking about could be put to use on things that will eventually improve the quality of life for EVERYONE on the planet.

yeah, i can think of a few things that would benefit EVERYONE.

firstly, round up people who whine about foreign aid and dump them in a desert to starve.

then we won't have to listen to ignorant people complain about foreign aid anymore.

Quote:
Originally Posted by Chilly View Post
I think there are occasions where you have to feed the man while you teach him to fish. I'm for investing the money if people's futures, not just band-aiding their current problems, but sometimes you have to do a little of the latter while you work on the former.

don't try to appease conservatives by re-using their buzzwords. they're the ones that are wrong.
Old 06-16-2010, 04:14 PM Xayd is offline  
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CommiePunk
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hopefully they use the money for american charities, not these fucking haiti and somalia ones, where they have nothing to offer us and are going to be in poverty forever anyways.
Old 06-16-2010, 04:16 PM CommiePunk is offline  
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Redrum
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not going to change anything

charity is a farce and giving shit away to various shit hole nations will only worsen their condition, ironically. coupled with the fact the standard of living in western nations almost largely depends on a large chunk of the world remaining impoverished, exploitable, and thus easily controlled makes matters worse.

setting up merit-based scholarships for higher education in stable western nations and extending it to the third world is money far better spent, imho. donating half of it to nasa. anything is better then feeding a bunch of people who are starving only so they can go on to have ten kids that they can't feed. half of the reason why large parts of africa have been in a state of perpetual starvation for the past three decades can be readily attributed to food aid alone.
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Old 06-16-2010, 05:35 PM Redrum is offline  
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JoePits
this shit right here is some HARDCORE SHIT -- its made from PLANT SHIT
 
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this is just a way to funnel money to the black budget obviously...
Old 06-16-2010, 06:15 PM JoePits is offline  
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#9  

UTRocketMan
 
Would much rather see that money go to proven scientific organizations that have shown promise in energy, space (biased), genetic or electrical engineering. You help the economy and hopefully get a discovery or two that can drastically improve everyone's life.

600 billion for charities will probably just filter down, with local organizations who need it the most receiving very little.
Old 06-16-2010, 09:49 PM UTRocketMan is offline  
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TheMorlock
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tsrh^
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http://www.genmay.com/showthread.php?t=572323
Old 06-17-2010, 08:36 AM TheMorlock is offline  
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matt00926
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Maybe they are just getting old and are scared to go to hell
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Old 06-17-2010, 08:45 AM matt00926 is offline  
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Renork
 
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IMO, the 600billion should be applied to the creation of essentially free universities(with stringent admissions criteria) with high intensity research and development focus in the areas Rocketman mentioned, among others.
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Old 06-17-2010, 08:57 AM Renork is offline  
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Patriotic Eagle
 
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Quote:
Originally Posted by Redrum View Post
not going to change anything

charity is a farce and giving shit away to various shit hole nations will only worsen their condition, ironically. coupled with the fact the standard of living in western nations almost largely depends on a large chunk of the world remaining impoverished, exploitable, and thus easily controlled makes matters worse.

setting up merit-based scholarships for higher education in stable western nations and extending it to the third world is money far better spent, imho. donating half of it to nasa. anything is better then feeding a bunch of people who are starving only so they can go on to have ten kids that they can't feed. half of the reason why large parts of africa have been in a state of perpetual starvation for the past three decades can be readily attributed to food aid alone.
At worst food aid depresses local prices temporarily. The causes of famine in Africa vary from country to country but nowhere has food aid been a major contributer, this is just dumb as hell.
Old 06-17-2010, 02:24 PM Patriotic Eagle is offline  
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Patriotic Eagle
 
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You know what this world doesn't have enough of? Nerds with scholarships.
Old 06-17-2010, 02:30 PM Patriotic Eagle is offline  
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