Right now many wealthy people in the United States are leaning on the government to extend tax breaks which really give them preferred treatment in a time when the gap between rich and poor is growing and millions are struggling. Donald Trump is amongst them.
So it is encouraging that Warren Buffett, the second wealthiest person in the US after Bill Gates, is convincing a growing number of rich folk to give away at least half of their fortunes to philanthropic causes during their lifetimes or at their deaths. http://givingpledge.org/ He is leading the way by pledging to give away 99% of his fortune. In his letter on the Giving Pledge website he points out that many regular folk are generous in a variety of ways:
Millions of people who regularly contribute to churches, schools, and other organizations thereby relinquish the use of funds that would otherwise benefit their own families. The dollars these people drop into a collection plate or give to United Way mean forgone movies, dinners out, or other personal pleasures. In contrast, my family and I will give up nothing we need or want by fulfilling this 99% pledge.
Moreover, this pledge does not leave me contributing the most precious asset, which is time. Many people, including -- I'm proud to say -- my three children, give extensively of their own time and talents to help others. Gifts of this kind often prove far more valuable than money. A struggling child, befriended and nurtured by a caring mentor, receives a gift whose value far exceeds what can be bestowed by a check. My sister, Doris, extends significant person-to-person help daily. I've done little of this.
How refreshing. And he's right. There are so many people who are consistently "generous until it hurts" without accolades or a website lauding their gifts.
Have you heard about this pledge? Do you trust that this gang is sincere?
So it is encouraging that Warren Buffett, the second wealthiest person in the US after Bill Gates, is convincing a growing number of rich folk to give away at least half of their fortunes to philanthropic causes during their lifetimes or at their deaths. http://givingpledge.org/ He is leading the way by pledging to give away 99% of his fortune. In his letter on the Giving Pledge website he points out that many regular folk are generous in a variety of ways:
Millions of people who regularly contribute to churches, schools, and other organizations thereby relinquish the use of funds that would otherwise benefit their own families. The dollars these people drop into a collection plate or give to United Way mean forgone movies, dinners out, or other personal pleasures. In contrast, my family and I will give up nothing we need or want by fulfilling this 99% pledge.
Moreover, this pledge does not leave me contributing the most precious asset, which is time. Many people, including -- I'm proud to say -- my three children, give extensively of their own time and talents to help others. Gifts of this kind often prove far more valuable than money. A struggling child, befriended and nurtured by a caring mentor, receives a gift whose value far exceeds what can be bestowed by a check. My sister, Doris, extends significant person-to-person help daily. I've done little of this.
How refreshing. And he's right. There are so many people who are consistently "generous until it hurts" without accolades or a website lauding their gifts.
Have you heard about this pledge? Do you trust that this gang is sincere?
Good for him. I hope he writes the check before he dies, because by the time the legal challanges are done the only ones to see that money will be the lawyers.
ReplyDeleteSee, there's the difference between mere mortals like us, and the super-rich. He has already worked out the practicalities of giving it all away.
ReplyDeleteMr. Buffett is already half way there, having made arrangements to divest his wealth to the Gates Foundation. He figured that he shouldn't reinvent a perfectly good wheel and collaborates with Gates.
He has already amply provided for his family, and feels that inherited wealth spoils the creativity and initiative.
Interesting guy.