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The society as a whole can benefit from this kind of philanthropy long after it happens. For instance I directly benefited as a kid from a Carnegie library[1].

by jmatt 17y ago

The society as a whole can benefit from this kind of philanthropy long after it happens. For instance I directly benefited as a kid from a Carnegie library[1]. Meanwhile Andrew Carnegie is considered a robber baron[2] worse than Gates in most respects. Yet, I'm still grateful for the library. Gates is already wealthy, so at this point I'd rather see him use it for philanthropy rather than create another Rockefeller family trust. [1] http://en.wikipedia.org/wiki/Carnegie_library http://en.wikipedia.org/wiki/Carnegie_library [2] http://en.wikipedia.org/wiki/Robber_baron_(industrialist) http://en.wikipedia.org/wiki/Robber_baron_(industrialist) EDIT: Added links.

zouhair 17y ago
I didn't say philanthropy is bad, I say that one can survive with $100,000,000 (number pulled out of my arse) and anything more than that should be taxed to make a better life for the majority. And with with this kind of money you can still be a philanthropist.
- jmatt 17y ago
  You can't do this sort of philanthropy with 1/500th of the money. The difference between government doing it and a philanthropist is efficiency. There are no beaurocracies or regulations when it's your money and your charity. Meanwhile if the government was going to do the same thing it would be bogged down in politics and bureaucracy. As for increasing taxes on the super rich - as far as I know Gates and Buffet both support the idea. They also support a serious estate tax for the super rich (aka death tax). And they cite the reasons you cite. The wealth came from the society as a whole and thus should go back to them. That is one reason they've put so much of their net worth in Gates' foundation. [These aren't my personal beliefs about taxes or the death tax...] I think it would be a very hard argument to say that the money Carnegie or Gates is using could some how be used better by most governments and definitely not by the US government. The Gates foundation even has a lifespan on it. It will cease to exist 50 years after Bill and Melinda die[1]. That is commendable in my opinion. It guarantees it doesn't become a Ford Foundation (etc.) and it ensures the money is spent on the generation that created the fortune. [1] http://en.wikipedia.org/wiki/Bill_%26_Melinda_Gates_Foundation#Lifespan http://en.wikipedia.org/wiki/Bill_%26_Melinda_Gates_Foundati...

by jmatt 17y ago

zouhair 17y ago

I didn't say philanthropy is bad, I say that one can survive with $100,000,000 (number pulled out of my arse) and anything more than that should be taxed to make a better life for the majority. And with with this kind of money you can still be a philanthropist.

jmatt 17y ago
You can't do this sort of philanthropy with 1/500th of the money. The difference between government doing it and a philanthropist is efficiency. There are no beaurocracies or regulations when it's your money and your charity. Meanwhile if the government was going to do the same thing it would be bogged down in politics and bureaucracy. As for increasing taxes on the super rich - as far as I know Gates and Buffet both support the idea. They also support a serious estate tax for the super rich (aka death tax). And they cite the reasons you cite. The wealth came from the society as a whole and thus should go back to them. That is one reason they've put so much of their net worth in Gates' foundation. [These aren't my personal beliefs about taxes or the death tax...] I think it would be a very hard argument to say that the money Carnegie or Gates is using could some how be used better by most governments and definitely not by the US government. The Gates foundation even has a lifespan on it. It will cease to exist 50 years after Bill and Melinda die[1]. That is commendable in my opinion. It guarantees it doesn't become a Ford Foundation (etc.) and it ensures the money is spent on the generation that created the fortune. [1] http://en.wikipedia.org/wiki/Bill_%26_Melinda_Gates_Foundation#Lifespan http://en.wikipedia.org/wiki/Bill_%26_Melinda_Gates_Foundati...