[bassetman]

My GOP Gawd won't this destroy Amerika?

Gates Foundation to Get Bulk of Buffett's Fortune

By Yuki Noguchi
Washington Post Staff Writer
Monday, June 26, 2006; Page A01

Investment guru Warren Buffett, whose stake in the company he founded is worth $44 billion, disclosed plans yesterday to give nearly all of it away, mostly to the world's largest charitable organization, the Bill & Melinda Gates Foundation.

That revelation in Fortune magazine comes on the heels of Microsoft Corp. co-founder Bill Gates's announcement earlier this month that he would transition from running his company to running his foundation -- and marks a golden age for philanthropic giving akin to that of a century ago, when industrialists such as Andrew Carnegie, John D. Rockefeller and Andrew W. Mellon gave vast amounts of their wealth to the arts and society.

We agreed with Andrew Carnegie, who said that huge fortunes that flow in large part from society should in large part be returned to society," Buffett, 75, told Fortune in an interview laying out his charitable-giving plans. He said the philanthropy was encouraged by his wife, Susan, who died in 2004.

Buffett, the world's second-richest person, committed to give away his shares in his company, Berkshire Hathaway, to five foundations over time. The bulk of the shares, representing 83 percent of his pledged gift, will go to the Gates Foundation. This year, Buffett's donation to the education- and global-health-focused foundation will be worth about $1.5 billion.

"The amount that Buffett is giving is record-breaking," said Stacy Palmer, editor of the Chronicle of Philanthropy, a District-based newspaper covering the nonprofit world. "The fact that he's giving to the Gateses is unprecedented," she said, because most families have donated to causes in their own name.

Buffett's donation exceeds the amount given by the great philanthropists of the past; Carnegie's givings totaled about $380 million -- $7.6 billion in today's dollars.

...http://www.washingtonpost.com/wp-dyn...062500801.html

Oh, the wailing and gnashing of teeth!

[LuckyStrike]

Class envy is such an integral part of what you liberals are, that you cannot even conceive that conservatives are not concerned with what other people do with their own money. The typical Republican reaction will be it's his money and his business, so more power to him.

When you liberals call Republicans greedy, it says nothing about Republicans because it is not even true, but it says a lot about who liberals are and how they think.

[Chicon]

As many Republicans did, I applaud Buffett's donation !

[MNG0304]

3 hours late for the double post

[Stoner]

Originally Posted by bassetman

My GOP Gawd won't this destroy Amerika?
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...http://www.washingtonpost.com/wp-dyn...062500801.html

Oh, the wailing and gnashing of teeth!

I don't understand your position, John......it's Buffett's to give away, not anyone elses privilage/right to legislate/initiate his contribution.
I doubt anyone in the GOP will be upset.
But now, wealthy Liberals will have to think of ways to match it _
And I suspect they are gnashing their teeth

[linskyjack]

Nice to see that Buffet's daughter runs one of his Foundations that seeks to protect women's right to abortion.

[katonca]

Maybe I'm missing something. He gives away his fortune to a foundation which aids education and health, and there's a beef? Where IS the appropriate place for HIS money to go?

I'm too confused.

[Gibble]

good for him. Like has been stated, he earned the money, it's his to do with as he pleases.

[iltos]

the bman takes a lot of flack on this board, and may have trained you to imagine he puts all his wit over in political humor.....i'm thinking this thread may be a little tongue in cheek....

hope i'm right, bman!!!!

[jrthomp74]

I see many of you are clearly for or against this. However, if you really think about it, this is an awesome act of clarity for Buffet at age 75. He is giving his wealth to not only the richest man in the world (above him) but giving it to a man who has build an empire from nothing and has made all the right decisions, and now is activley going to run his own donation foundation and make that his new full time job. Could you imagine, just getting paid or even saying that your full time job is to spread your mass wealth and donate it in millions to anything, in the world. And I believe that this contribution by Buffet will not be the first of its kind, but be the start of many larger donations to follow. At least those that own a PC anyway, and not a mac. lol.

J.Thompson

[teengeekgrrl]

More power to him. I really don't understand where greed has to do with any of it.

[Gibble]

It's because Basset is under the misconception that Republicans despise all those that aren't wealthy. When in reality, Republicans try to set policy that allows everyone the opportunity to become that wealthy...

[LANMaster]

Dude ....
If Buffet is giving the money to the Bill & Melinda Gates Foundation, then you should be applauding the move.
The Bill & Melinda Gates Foundation just happens to the the worlds largest charitable organization.

Class envy is so utterly disgusting. Read the 10th Commandment.

Liberals They can't tell if they're comin' -r- goin'.

[bassetman]

Originally Posted by Chicon

As many Republicans did, I applaud Buffett's donation !

I think it's great. He has railed against excessive greed amoung the GOP for years now, and he put his money where his mouth was!

[bassetman]

Originally Posted by Gibble

It's because Basset is under the misconception that Republicans despise all those that aren't wealthy. When in reality, Republicans try to set policy that allows everyone the opportunity to become that wealthy...

If you want to start playing armchair psychologist subscribe to Psychology Today for awhile first!