People's reactions to Gates and Buffet's $600 billion challenge
17 June 2010
Isn't it amazingly positive news that Warren Buffet and Melinda and Bill Gates have put up the $600 billion challenge which is "asking the nation's billionaires to pledge to give at least half their net worth to charity". And if you haven't already read about it, Warren Buffet pledges 99% of this company stock to charity. All good news but what's really interesting is reading peoples comments on the CNN page. A handful pick:
"Interesting article. It is saddening, however, to ponder just how much of this crowd's wealth was made through unfair business practices, worker exploitation, price fixing, etc. I suppose philanthropy on the back end is a nice afterthought, though, and certainly earns more praise from the public than would lessening their profit margins at the get-go."
"Pay their taxes first, then contribute with after tax money."
"If I may be cynical. Perhaps these super rich people should have done more for the people that worked for them so that they made more money and the leaders made a little less. Buffet owns companies that make goods in second and third world countries at some of the lowest possible wages."
"$1000 in the hands of ONE could be investment money. $1000 distributed $1 to ONE THOUSAND could get each a Coke (no fries)."
But also, there are some more "positive" comments:
"There is sooo much negativity in this country! I don't care what anyone of you says...Bill and Melinda came from Blue Collar....and now they are giving back and I think it's awesome!"
"I think what they are doing is very admirable. The Gates Foundation is the reason I was able to pay for college. People need to not criticize what they do with their money, at least they are trying to make a difference."
In conclusion from skimming the comments it's pretty obvious that people in the USA are angry and bitter. What is there to complain about? Really? Poor Obama, he's doing a great job but with all this resentment sizzling around it's going to be very hard if even "extreme philanthropy" gets butchered like this.