Posted on 08/01/2003 6:38:31 AM PDT by TroutStalker
Edited on 04/22/2004 11:49:35 PM PDT by Jim Robinson. [history]
Berkshire Hathaway, the hugely successful, Nebraska-based company led by Warren Buffett, recently announced an end to its program for charitable giving, and in a way that is big news.
The program was an object of adoration for years, not least because it allowed Class A shareholders to designate where they wanted their portion of the company's charity to go. It seemed so democratic, so enlightened compared with the usual corporate-charity model: allowing an executive committee to pick a few charities on behalf of all shareholders. And yet we should be glad that Berkshire's program has ended. It was a bad idea in the first place.
(Excerpt) Read more at online.wsj.com ...
is like Buffett an advocate of high taxes. Both enjoy invidious comparison with middle class people who "need" a tax cut.
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