Buffett: Stop Blaming The Rich For Income Inequality

RW · May 23, 2015, 10:10:31 PM

I'm talking about their personal wealth. What does it do for the economy?

Anonymous · May 23, 2015, 10:36:26 PM

~~Quote from: "RW"~~I'm talking about their personal wealth. What does it do for the economy?

Again Baldwin and Kanye West, sweet fuck all. Buffet and Gates, well that's a different story.

Anyway, you can decide yourself if people are overcompensated. Don't go see a professional hockey game if you feel athletes make too much. Don't buy use Facebook if you feel Zuckerberg is overpaid. I boycott Muslim owned business because I find their ideology repugnant. If you have a similar moral objection to wealthy entertainers, athletes and business owners, stop making them richer.

RW · May 23, 2015, 10:38:25 PM

You haven't answered my question. I'm asking about PERSONAL wealth. who the hell needs a billion dollars?!

cc · May 23, 2015, 10:38:33 PM

No one. But seems it happens to a few. Wealthy businesses usually support many employees ... "personal wealth" is usually used in stocks etc. and with only a few exceptions has little to no benefit to mankind.

"If you have a similar moral objection to wealthy entertainers, athletes and business owners, stop making them richer." In the main, done. Only rarely do I watch sports and mainly because it is so ludicrous in payroll. Similar for major Hollywood types.

What we pay celebs of all types is sick sick sick

Anonymous · May 23, 2015, 10:43:14 PM

~~Quote from: "RW"~~You haven't answered my question. I'm asking about PERSONAL wealth. who the hell needs a billion dollars?!

I did answer it. Baldwin and West do not help anyone except their greedy selves, which is none of my business evn though I hate them. Gates money is sure helping the people of India. Buffet is giving away most of his wealth too.

RW · May 23, 2015, 10:44:45 PM

~~Quote from: "cc la femme"~~No one. But seems it happens to a few. Wealthy businesses usually support many employees ... "personal wealth" is usually used in stocks etc. and with only a few exceptions has little to no benefit to mankind.

"If you have a similar moral objection to wealthy entertainers, athletes and business owners, stop making them richer." In the main, done. Only rarely do I watch sports and mainly because it is so ludicrous in payroll

What we pay celebs of all types is sick sick sick

I agree. It's gross.

RW · May 23, 2015, 10:46:11 PM

~~Quote from: "Shen Li"~~
~~Quote from: "RW"~~You haven't answered my question. I'm asking about PERSONAL wealth. who the hell needs a billion dollars?!

I did answer it. Baldwin and West do not help anyone except their greedy selves, which is none of my business evn though I hate them. Gates money is sure helping the people of India. Buffet is giving away most of his wealth too.

So Gates shipped his personal wealth off to India which doesn't help the US economy and what about Buffet?

Anonymous · May 23, 2015, 10:47:44 PM

~~Quote from: "cc la femme"~~No one. But seems it happens to a few. Wealthy businesses usually support many employees ... "personal wealth" is usually used in stocks etc. and with only a few exceptions has little to no benefit to mankind.

What we pay celebs of all types is sick sick sick

Yeah, despite having $70 billion net worth, Buffet's lifestyle does not reflect it. His wealth is indeed a great benefit to mankind.

Celebutards on the other hand are not worth minimum wage.

RW · May 23, 2015, 10:49:09 PM

How is Buffet's wealth a benefit to mankind?

He sounds like a sick ass money hoarder to me.

Anonymous · May 23, 2015, 10:52:21 PM

~~Quote from: "RW"~~
~~Quote from: "Shen Li"~~
~~Quote from: "RW"~~You haven't answered my question. I'm asking about PERSONAL wealth. who the hell needs a billion dollars?!

I did answer it. Baldwin and West do not help anyone except their greedy selves, which is none of my business evn though I hate them. Gates money is sure helping the people of India. Buffet is giving away most of his wealth too.

So Gates shipped his personal wealth off to India which doesn't help the US economy and what about Buffet?

Excuse me, helping India which will soon be the most populous nation on earth is NOT a help to the US economy?? I guess a growing Indian economy won't want to buy American products and resources. ac_rollseyes

Buffet was ranked as the most charitable man in the world in 2014 giving $2.1 billion to the Bill and Melinda Gates Foundation in the form of 16.6 million shares of his company, according to Wealth-X's ranking of the 10 largest philanthropic donations of 2014.

No offense RW, but I am surprised you didn't know these things. It's not like Gates and Buffet are unknowns.

RW · May 23, 2015, 10:58:15 PM

Oh I know about their private foundation hand shaking and such. India is seeing a surge in economic growth while the Gates's focus mainly on health issues, especially infectious diseases. They also focus on poverty. That is not stimulating the U.S. economy. Sorry. Buffet tis also a big contributor to the Gates Foundation (no surprise there).

Take a look at his charity list:

https://www.looktothestars.org/celebrity/warren-buffett">https://www.looktothestars.org/celebrity/warren-buffett

Not exactly the pinnacle of economic boosting.

Anonymous · May 23, 2015, 10:59:26 PM

All this is in addition to his companies helping Canadians and Americans save for their retirements and capitalizing companies.

Do you know an iconic Canadian owned corporation would have been Kaput if not for both Gates and Buffet?

~~Quote~~Amount donated in 2012: about $3.1-billion

Top beneficiaries: Howard G. Buffett Foundation, NoVo Foundation, and the Sherwood Foundation.

Background: He is the chairman of Berkshire Hathaway, an insurance and investment company.

Mr. Buffett, age 82, pledged 12,220,852 shares of Berkshire Hathaway class "B" stock, valued at more than $1-billion, to each of his three children's foundations. The Howard G. Buffett Foundation gives money to agricultural development, clean-water projects, and programs working to fight poverty. The NoVo Foundation, co-founded by Peter Buffett and his wife, Jennifer, seeks to improve the well-being of girls and women globally and supports economic and education programs. The Sherwood Foundation, founded by daughter Susan Buffett, supports social-justice and early-childhood education.

This pledge follows a 2006 promise to give each foundation about $1-billion, which Mr. Buffett has been steadily paying off each year.

He will begin paying down this latest commitment later this year.

In addition, Mr. Buffett gave stock worth close to $1-million to a charity in 2012 that he declined to name and 10 shares of stock, currently valued at about $12,000 apiece, to each of 15 elementary-school students who won an educational contest sponsored by Mr. Buffett called the "Grow Your Own Business Challenge." The contest is associated with "The Secret Millionaires Club," an animated television show that features Mr. Buffet and seeks to teach children about business and personal finance.

https://philanthropy.com/article/No-1-Warren-Buffett/155467">https://philanthropy.com/article/No-1-W ... ett/155467">https://philanthropy.com/article/No-1-Warren-Buffett/155467

RW · May 23, 2015, 11:01:24 PM

Most of these economic development foundations work outside of the U.S.

Anonymous · May 23, 2015, 11:08:39 PM

~~Quote from: "RW"~~Most of these economic development foundations work outside of the U.S.

They are heavily invested in US companies and individuals too.

RW · May 24, 2015, 07:02:49 PM

Such as? I'm talking about their personal wealth here.

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Buffett: Stop Blaming The Rich For Income Inequality

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