40 billionaires pledge to give away half of wealth

http://www.msnbc.msn.com/id/38556042/ns/us_news-giving/?GT1=43001 ^

[Lucky9teen]

Bill Gates, left, and Warren Buffett, seen in this 2007 photo during the annual Berkshire Hathaway shareholders meeting in Omaha, are trying to persuade other American billionaires to give at least half their wealth to charity.

More than three dozen of America's wealthiest individuals and families have joined Bill Gates and Warren Buffett in agreeing to give away at least half their fortunes to charity.

The announcement was made Wednesday by The Giving Pledge, an effort officially launched by Gates and Buffett earlier this year to persuade the richest people in America to commit to giving the majority of their wealth to the philanthropic causes and charitable organizations of their choice, either during their lifetime or after their death.

In addition to Buffett and Gates — America's two wealthiest individuals, with a combined net worth of $90 billion, according to Forbes — 38 other billionaires are taking the give-it-away pledge. They include New York Mayor Michael Bloomberg, entertainment executive Barry Diller, Oracle co-founder Larry Ellison, energy tycoon T. Boone Pickens, media mogul Ted Turner, David Rockefeller, film director George Lucas and investor Ronald Perelman.

[Lucky9teen]

Another WTF moment?

[OpusatFR]

They’ll put their money in private foundations and retain control.

The private foundations are nothing more than sociological think tanks and population steering mechanisms.

[Ann Archy]

Where’s SOROS?????

[silverleaf]

and they will spend another chunk of their fortunes electing people who want to give away my money

[Ann Archy]

AMEN!!!! FOUNDATIONS ARE SLUSH FUNDS.

[LottieDah]

Those 40 billionaires want to give away half their wealth before the Bush tax cuts expire.

[rhombus]

They’ll put their money in private foundations and retain control. The private foundations are nothing more than sociological think tanks and population steering mechanisms.

And tax free?

[DManA]

Presumably this money is currently invested and being used to grow new wealth. So we take half of this out of the productive economy to be consumed, won’t we all be worse off?

[DManA]

Another way to look at this, if these 40 billionaires gave 100% of their wealth to the US Treasury, it would hardly make a dent in the debt.

[silverleaf]

Only half?

BFD.

Why are they keeping so much? Can’t they live on $250K like the rest of the “rich” whose federal taxes are going up to 40%?

[OpusatFR]

“And tax free?”

~yeah, that too.

[Sacajaweau]

Charity?? Doesn't really make sense does it. Do something that creates jobs and/or trains for jobs. The trick is always gonna be to get lazy screw ups into the workplace.

MANDATORY work for welfare...FREE CHECKUP!!!

[Cicero]

Also, apart from these foundation slush funds which provide comfortable living support for liberals, it depends what you mean by “charity.”

For Bill Gates and Warren Buffett, history suggests that it mostly means killing off babies, to reduce the population.

[Beowulf9]

Hi! My name is CHARITY!!!

[SeekAndFind]

Well that was a quick move up from 34 just a few hours ago.

See here :

http://www.freerepublic.com/focus/f-news/2564439/posts

[La Lydia]

If they really had the courage of their convictions, they would give it ALL away and live in caves like hermits, on roots and berries, until called to the choir celestial.

[CA Conservative]

Good for them - it’s their money, they can do as they wish, and if they want to give to charity, so be it.

As long as they don’t ask the government to force the rest of us to give more of our money in taxes for their pet causes...

[bolobaby]

Can we declare the U.S. debt a charity cause?

[WOBBLY BOB]

Big deal. I’ve pledged to have children with Salma Hayek.

[Presbyterian Reporter]

My quick perusal of the 40 names tells me that most of them are liberals.

This could be nothing more than a political ploy to keep liberals in power.