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That Buffet quote certainly reminds me that the rich are different from you and I. He could also hire those 10,000 people to do AIDS research, etc., but he rea

That Buffet quote certainly reminds me that the rich are different from you and I. He could also hire those 10,000 people to do AIDS research, etc., but he really wants to die with the most toys. "Charity" can have them afterwards.

organsnyder 11y ago
That's certainly true for many super-affluent people, but Warren Buffett is hardly the poster child. He lives a relatively modest lifestyle, and has already given away a large portion of his fortune.
- username223 11y ago
  I agree, he seems not to have lost his moral compass -- he's no Larry Ellison. But something about the phrase "enormous number of claim checks on society" suggests that he's collecting points, and trying to rack up a high score by the end of the game.
  - organsnyder 11y ago
    To me, it suggests exactly the opposite. Rather than simply seeing wealth as a high-score indicator, he recognizes that by holding onto it he is squandering a huge amount of potential wealth for society at large.
  - georgemcbay 11y ago
    I'd argue the super-wealthy are only different than the "rest of us" in terms of scale on this issue. Relevant Louis CK: https://www.youtube.com/watch?v=lC4FnfNKwUo https://www.youtube.com/watch?v=lC4FnfNKwUo I drive a cheap Honda Fit, not an Infinity, but the concept still applies to almost everyone who lives a decently comfortable western life.
  - 13thLetter 11y ago
    If Buffett wants to try to rack up a high score, and plays by fair and equal rules in the process (not hurting anyone, not pressuring people into transactions, paying his taxes on time, et cetera), what's wrong with him doing that?
    - joosters 11y ago
      I'm veering off-topic here, but Buffett's large deals are often cunningly crafted so that taxes are eliminated. He's got the right to do that, but it doesn't make him a shining example of a taxpayer. Still, the charities he is giving his wealth to will get some of this benefit!
qq66 11y ago
One huge benefit to Warren Buffett waiting until he dies to give his money away is that he has consistently achieved outstanding returns on his capital, so by holding onto it now, he has much more to donate tomorrow. If he had given away all his money when he had $1 billion he wouldn't have $50 billion to donate today.

organsnyder 11y ago

That's certainly true for many super-affluent people, but Warren Buffett is hardly the poster child. He lives a relatively modest lifestyle, and has already given away a large portion of his fortune.

username223 11y ago
I agree, he seems not to have lost his moral compass -- he's no Larry Ellison. But something about the phrase "enormous number of claim checks on society" suggests that he's collecting points, and trying to rack up a high score by the end of the game.
- organsnyder 11y ago
  To me, it suggests exactly the opposite. Rather than simply seeing wealth as a high-score indicator, he recognizes that by holding onto it he is squandering a huge amount of potential wealth for society at large.
- georgemcbay 11y ago
  I'd argue the super-wealthy are only different than the "rest of us" in terms of scale on this issue. Relevant Louis CK: https://www.youtube.com/watch?v=lC4FnfNKwUo https://www.youtube.com/watch?v=lC4FnfNKwUo I drive a cheap Honda Fit, not an Infinity, but the concept still applies to almost everyone who lives a decently comfortable western life.
- 13thLetter 11y ago
  If Buffett wants to try to rack up a high score, and plays by fair and equal rules in the process (not hurting anyone, not pressuring people into transactions, paying his taxes on time, et cetera), what's wrong with him doing that?
  - joosters 11y ago
    I'm veering off-topic here, but Buffett's large deals are often cunningly crafted so that taxes are eliminated. He's got the right to do that, but it doesn't make him a shining example of a taxpayer. Still, the charities he is giving his wealth to will get some of this benefit!

qq66 11y ago

One huge benefit to Warren Buffett waiting until he dies to give his money away is that he has consistently achieved outstanding returns on his capital, so by holding onto it now, he has much more to donate tomorrow. If he had given away all his money when he had $1 billion he wouldn't have $50 billion to donate today.