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  1. #11
    pathwise dependent FDG's Avatar
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    Quote Originally Posted by uumlau View Post
    Note that a lot of the wealth of "rich people" is tied up in investments/businesses.
    Yeah, that's the biggest "issue". They wouldn't even be so rich if that was not the case.
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  2. #12
    ^He pronks, too! Magic Poriferan's Avatar
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    Quote Originally Posted by andante View Post
    In order to influence or control corporations, you must at minimum have a control block of voting shares. Much of Buffet's fortune is tied up in share ownership. If he liquidated all his assets, he could no longer affect corporate direction where the one time injection of the monies into charitable foundations wouldn't do very much in the long term.

    In maintaining control and subsequently donating monies on an annual basis, this is a win/win strategy.
    Possibly. We'd have to compare the long-term amount accumulated to what could be given all at once to be sure. While this idea does have some rationality to it, it also runs the risk of being an excuse to hold on to wealth disguised as generosity. It's like a revolutionary dictator who couches his hold on power in terms of necessity for continuing the revolution.

    That being said, this point as well as mine about the difficulty of distributing wealth can be addressed by extracting the money through corporate and individual taxes instead.
    Go to sleep, iguana.


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  3. #13
    nee andante bechimo's Avatar
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    Quote Originally Posted by Magic Poriferan View Post
    Possibly. We'd have to compare the long-term amount accumulated to what could be given all at once to be sure. While this idea does have some rationality to it, it also runs the risk of being an excuse to hold on to wealth disguised as generosity. It's like a revolutionary dictator who couches his hold on power in terms of necessity for continuing the revolution.
    It's Buffet's money that he made from nothing, where he too should enjoy the aspect of having it and how it should be doled out. I don't envy or resent this.

    A dictatorship is using public monies, not his own.

    Charities aren't known for their fiscal prudence/acumen or rocket scientist leadership. They most likely would piss it all away and then it's gone.

  4. #14
    Senior Member The Great One's Avatar
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    Quote Originally Posted by Giggly View Post
    Just give it away..... without making the recipients jump through hoops or "prove" themselves.

    If I had money like, say, Warren Buffet, I would just give it away. They wouldn't have to apply or write a grant request or an essay or a business proposal or whatever else wealthy folks require. He probably could have solved the issue of world hunger by now or saved a village of sickly diseased children.

    They certainly aren't spending the money on themselves or their family. (http://www.zimbio.com/pictures/kwze6...Buffett+s+Home) so they have it to give away. I don't understand or admire rich people like this. They must live in their own head.
    The way that they got rich in the first place, was by not giving money away, and by being penny-pinching misers.

    @Elfboy

    1) they're not Sp last
    2) they're Id, not superego
    3) that would be horribly inefficient
    4) they got money because they like power, not because they want to give it away.
    5) rich people can do whatever the hell they want. when they do give (and most do considerably), it's not out of obligation, it's cuz they feel like it.
    I couldn't have put it better myself.

  5. #15
    ^He pronks, too! Magic Poriferan's Avatar
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    Quote Originally Posted by andante View Post
    It's Buffet's money that he made from nothing, where he too should enjoy the aspect of having it and how it should be doled out. I don't envy or resent this.
    Only the mint can make money from nothing, and when they do, they devalue it with every dollar. Anyway, I prefer to discuss money in terms of the results of its application, not things like earning.

    Quote Originally Posted by andante View Post
    A dictatorship is using public monies, not his own.
    Well that's somewhat aside from the point I was making. Whether or not you think he's obligated, if he were to assess someone like buffet on how altruistic he were being with his money, the issue I raise would stand.

    On that topic, however, I tend to question the supposed line between public and private money. We are all in one money pool, and it would essentially not work without government backing. I'm not sure how private anyone's money is.

    Quote Originally Posted by andante View Post
    Charities aren't known for their fiscal prudence or rocket scientist leadership. They most likely would piss it all away and then it's gone.
    But I do agree with this. Charities are over-rated. If I were a philanthropist I would probably donate more to scientific research and maybe a political cause if I really believed in one. However, I'm not that impressed with philanthropy in general.
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  6. #16
    nee andante bechimo's Avatar
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    Quote Originally Posted by Magic Poriferan View Post
    Only the mint can make money from nothing, and when they do, they devalue it with every dollar. Anyway, I prefer to discuss money in terms of the results of its application, not things like earning.

    Well that's somewhat aside from the point I was making. Whether or not you think he's obligated, if he were to assess someone like buffet on how altruistic he were being with his money, the issue I raise would stand.

    On that topic, however, I tend to question the supposed line between public and private money. We are all in one money pool, and it would essentially not work without government backing. I'm not sure how private anyone's money is.
    If so, would you say that your personal income should be shared by all, where how it's spent should be controlled by everyone else?

    But I do agree with this. Charities are over-rated. If I were a philanthropist I would probably donate more to scientific research and maybe a political cause if I really believed in one. However, I'm not that impressed with philanthropy in general.
    While I believe in charities, I'd rather their monies be used to throw open educational institutions and other means to enable people to bootstrap their way out of poverty. Teach a man to fish, et al.

  7. #17
    Happy Dancer uumlau's Avatar
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    Quote Originally Posted by Magic Poriferan View Post
    Only the mint can make money from nothing, and when they do, they devalue it with every dollar.
    The devaluing is true, but banks in general can effectively create money from nothing via loans. As long as depositors don't want all of their money back at the same time, banks can loan out that money, keeping it in circulation even as depositors aren't spending it. It's the money that's in circulation that affects inflation/deflation, not the total amount of money overall.

    Interestingly, the way the Fed "prints" money is by "lending" it.
    An argument is two people sharing their ignorance.

    A discussion is two people sharing their understanding, even when they disagree.

  8. #18
    girl with a pretty smile Honor's Avatar
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    I know a lot of people who are extremely wealthy. It's because they don't care. To be fair, though, I also know a lot of people who aren't extremely wealthy...and many of them also don't care.
    RobertCalifornia: TL thinks im black
    RobertCalifornia: shes my homegurl
    Hive: arent you
    SpankyMcfly: wait... you arent?

    thoughtlost: I am not really religious. I just like getting free stuff from churches.

  9. #19
    Senior Member Mal12345's Avatar
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    Give away = throw away = waste of value.
    "Everyone has a plan till they get punched in the mouth." Mike Tyson
    “Culture?” says Paul McCartney. “This isn't culture. It's just a good laugh.”

  10. #20
    deplorable basketcase Tellenbach's Avatar
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    Did Buffett grow up poor? If he did, then he might see the wealth as a security blanket. My dad grew up penniless and now he's very cheap.
    Senator Rand Paul is alive because of modern medicine and because his attacker punches like a girl.

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