World's wealthy worth $37.2 trillion and give <1% to charity

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  • Pacomc79Pacomc79 Posts: 9,404
    But how much did they invest creating jobs for all of the rest of us?

    If it's not just shoved in a mattress, you can bet someone is better off because of it?


    From CEO's of companies to the gardeners outside of thier mansions, someone is benifiting from that wealth. It's not simply horded. Much of those numbers are speculative anyway, it's not like they can go to the bank and get 37M in crisp dollar bills.

    No way I'll ever own a ferrari, but I imagine a great number of very skilled craftspeople in Modena are pleased to build such exquisite cars for a living, whether or not the people who buy them are worthy of owning such a fine piece of craftsmanship.
    My Girlfriend said to me..."How many guitars do you need?" and I replied...."How many pairs of shoes do you need?" She got really quiet.
  • hailhailkchailhailkc Posts: 582
    Abortion? Leave me alone, it's my body, my choice.

    Drugs? Legalize them, we should be truly free and have a choice to use them if we desire.

    God? Don't force that down my throat.

    Other peoples money? Well…they should spend it the way WE think they should spend it…or they're greedy pigs!!!!!!!!!!!



    Funny how you guys get so involved with other peoples money, but you're so hands off about everything else. I wonder who the real greedy bastards are sometimes.
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  • mammasanmammasan Posts: 5,656
    The top 3% of America's wealthiest contribute 2/3 of charitable donation in this country. I would say that the wealthiest people in this country are doing a hell of a lot of good with their money.

    http://www.insideindianabusiness.com/newsitem.asp?ID=20262
    "When one gets in bed with government, one must expect the diseases it spreads." - Ron Paul
  • jlew24asujlew24asu Posts: 10,118
    hailhailkc wrote:
    Abortion? Leave me alone, it's my body, my choice.

    Drugs? Legalize them, we should be truly free and have a choice to use them if we desire.

    God? Don't force that down my throat.

    Other peoples money? Well…they should spend it the way WE think they should spend it…or they're greedy pigs!!!!!!!!!!!



    Funny how you guys get so involved with other peoples money, but you're so hands off about everything else. I wonder who the real greedy bastards are sometimes.

    well said. where have you been for those previous 14,000 posts??
  • know1know1 Posts: 6,794
    know1 wrote:
    On a similar note, I heard of a study this week (on the radio) that showed that Americans are BY FAR the most charitable people in the world. Least charitable - France.

    I'm having trouble locating a complete link, but I need to correct this in that France is technically not last. They are just very far down the list.

    The other thing that I came across is that not only is America first, but they give more than twice what the second place nation does.

    Apparently this was a study out of Indiana University and was based upon percentage of GDP.
    The only people we should try to get even with...
    ...are those who've helped us.

    Right 'round the corner could be bigger than ourselves.
  • know1know1 Posts: 6,794
    hailhailkc wrote:
    Abortion? Leave me alone, it's my body, my choice.

    Drugs? Legalize them, we should be truly free and have a choice to use them if we desire.

    God? Don't force that down my throat.

    Other peoples money? Well…they should spend it the way WE think they should spend it…or they're greedy pigs!!!!!!!!!!!



    Funny how you guys get so involved with other peoples money, but you're so hands off about everything else. I wonder who the real greedy bastards are sometimes.

    Well said!
    The only people we should try to get even with...
    ...are those who've helped us.

    Right 'round the corner could be bigger than ourselves.
  • inmytreeinmytree Posts: 4,741
    hailhailkc wrote:
    Abortion? Leave me alone, it's my body, my choice.

    Drugs? Legalize them, we should be truly free and have a choice to use them if we desire.

    God? Don't force that down my throat.

    Other peoples money? Well…they should spend it the way WE think they should spend it…or they're greedy pigs!!!!!!!!!!!



    Funny how you guys get so involved with other peoples money, but you're so hands off about everything else. I wonder who the real greedy bastards are sometimes.

    so, since you say "we" can't say anything about the wealthy not giving to charity, "you" won't say anything about abortion, drugs, and god...

    sounds like a fair deal to me...all or none....me likeey...
  • know1know1 Posts: 6,794
    inmytree wrote:
    so, since you say "we" can't say anything about the wealthy not giving to charity, "you" won't say anything about abortion, drugs, and god...

    sounds like a fair deal to me...all or none....me likeey...

    I don't think he's cutting a deal...I think he's pointing out hypocrisy.
    The only people we should try to get even with...
    ...are those who've helped us.

    Right 'round the corner could be bigger than ourselves.
  • mammasanmammasan Posts: 5,656
    inmytree wrote:
    so, since you say "we" can't say anything about the wealthy not giving to charity, "you" won't say anything about abortion, drugs, and god...

    sounds like a fair deal to me...all or none....me likeey...

    The problem with that is that the wealthy are donating to charities, in this country they are. Check out the link I posted. A few paragraphs down it states that recent studies show that the tops 3% of American's contribute 2/3 of all private charitable contributions in this country. Secondly a study, I have a PDF of the study if anyone wants it, states that individual Americans donated 71 billion dollars in 2004 to foreign charities alone. That is 2.5 times more than our government gave out in foreign aid for the same year.
    "When one gets in bed with government, one must expect the diseases it spreads." - Ron Paul
  • inmytreeinmytree Posts: 4,741
    know1 wrote:
    I don't think he's cutting a deal...I think he's pointing out hypocrisy.

    as was I....
  • Drew263Drew263 Birmingham, AL Posts: 602
    hailhailkc wrote:
    Abortion? Leave me alone, it's my body, my choice.

    Drugs? Legalize them, we should be truly free and have a choice to use them if we desire.

    God? Don't force that down my throat.

    Other peoples money? Well…they should spend it the way WE think they should spend it…or they're greedy pigs!!!!!!!!!!!



    Funny how you guys get so involved with other peoples money, but you're so hands off about everything else. I wonder who the real greedy bastards are sometimes.

    Great post HailHail....basically it boils down to jealousy. Some have money and those that don't, want the money from those that do.

    "We're all about choice...unless it's your money we want".
  • Drew263Drew263 Birmingham, AL Posts: 602
    mammasan wrote:
    The problem with that is that the wealthy are donating to charities, in this country they are. Check out the link I posted. A few paragraphs down it states that recent studies show that the tops 3% of American's contribute 2/3 of all private charitable contributions in this country. Secondly a study, I have a PDF of the study if anyone wants it, states that individual Americans donated 71 billion dollars in 2004 to foreign charities alone. That is 2.5 times more than our government gave out in foreign aid for the same year.

    Wait...American rich are greedy and would never give. Your #'s are obviously Republican propoganda.

    ;)
  • SPEEDY MCCREADYSPEEDY MCCREADY Posts: 25,749
    hailhailkc wrote:
    Abortion? Leave me alone, it's my body, my choice.

    Drugs? Legalize them, we should be truly free and have a choice to use them if we desire.

    God? Don't force that down my throat.

    Other peoples money? Well…they should spend it the way WE think they should spend it…or they're greedy pigs!!!!!!!!!!!



    Funny how you guys get so involved with other peoples money, but you're so hands off about everything else. I wonder who the real greedy bastards are sometimes.
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  • Pacomc79Pacomc79 Posts: 9,404
    Well, it also equates to worth and worth is not always quantitated into money.

    Mammasan gave the 2/3's figure talking about the money. That's just the charitable giving, the taxes on top of that equate to about half of what they earn in a given year. BUT!!!

    Someone has to work in those charities. Time is harder to quantify, becuase it's no one will ever be paid what they feel they are worth, only that which they can negociate.

    Certainly the time spent helping others is harder to quantify but is no less valuable to the overall good so to speak. In other words everyone can have a role in charity should they so choose.

    A charitable contribution can come off taxes, but it's this direct gift that often helps more than a government program, and likewise that direct time contribution can mean the difference in a large number of peoples lives.
    My Girlfriend said to me..."How many guitars do you need?" and I replied...."How many pairs of shoes do you need?" She got really quiet.
  • inmytreeinmytree Posts: 4,741
    mammasan wrote:
    The problem with that is that the wealthy are donating to charities, in this country they are. Check out the link I posted. A few paragraphs down it states that recent studies show that the tops 3% of American's contribute 2/3 of all private charitable contributions in this country. Secondly a study, I have a PDF of the study if anyone wants it, states that individual Americans donated 71 billion dollars in 2004 to foreign charities alone. That is 2.5 times more than our government gave out in foreign aid for the same year.

    that's cool...I stand corrected (see my post responding to paperplates) that the wealth don't give....however, I do have to question a study run by Bank of America, yes, it may be 100% correct, or it may be skewed...The BoA study seems to self-serving...I'm just being skeptical...

    also, I just was pointing out the "all or none" part of hail's post...
  • mammasanmammasan Posts: 5,656
    Drew263 wrote:
    Wait...American rich are greedy and would never give. Your #'s are obviously Republican propoganda.

    ;)

    What's funny is that some of the people criticizing the world's wealthiest are probably among the worlds wealthiest. I know I fall into the top 2% of the world's wealthiest. I believe I read somewhere that any American making over $50,000 a year falls into the top 2-3% of wealthiest people in the world.
    "When one gets in bed with government, one must expect the diseases it spreads." - Ron Paul
  • KannKann Posts: 1,146
    The numbers in donation are not really an important issue, what is important is why we so miserably fail to help the poorest (countries or people) recover from their situation and start living independently of aid.
    mammasan wrote:
    But that report covers US government foreign aid. In 2004 the US Government spent 19.1 billion dollars on foreign aid. In the same year US individuals contributed 71 billion dollars to foreign charities. Our governments ranks pretty low as far as aid but the US public ranks tops.
    Yeah, sorry I mixed up between public and private aid. I took the link out, as it has nothing to do with this thread.
  • mammasanmammasan Posts: 5,656
    Kann wrote:
    Yeah, no, that would be in dollars only.
    http://www.globalissues.org/TradeRelated/Debt/USAid.asp#ForeignAidNumbersinChartsandGraphs
    But that's not really an important issue, what is important is why we so miserably fail to meet easy standards in donation.

    But that report covers US government foreign aid. In 2004 the US Government spent 19.1 billion dollars on foreign aid. In the same year US individuals contributed 71 billion dollars to foreign charities. Our governments ranks pretty low as far as aid but the US public ranks tops.
    "When one gets in bed with government, one must expect the diseases it spreads." - Ron Paul
  • barakabaraka Posts: 1,268
    This is a pretty good outline of the World's Top Philanthropists. It is from 2005.
    http://www.businessweek.com/pdfs/2005/0548_philsco.pdf

    These numbers are over the last five years, from 2001-2005. In terms of lifetime giving, no one even comes close to Bill and Melinda Gates, who have given nearly $28 billion, mostly to fund health, education, and libraries according to this document. The most impressive philanthropist on the list, however, might be Veronica Atkins, who has given a ridiculous 1000% of her current net worth to fighting obesity and diabetes. I thought the % was a typo until I investigated. What it is saying is over the course of the five years mentioned in the PDF, Atkins gave away ten times as much as she still had. If, for example, she was worth $100 million, then she gave away $1 billion over the five years in question (the actual number is on the list), and was worth $1.1 billion during that 5 year period.
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  • SPEEDY MCCREADYSPEEDY MCCREADY Posts: 25,749
    Exactly! I don't have a percentage to give but I know we give waaaay more than 3/4 of a percent!!! That's just horrible!
    yeah....

    but what people do in their private lives is none of your business.....right???

    or was that just for yesterday????

    im thinking how much money people donate to charity would be their own private business.......
    Take me piece by piece.....
    Till there aint nothing left worth taking away from me.....
  • know1know1 Posts: 6,794
    inmytree wrote:
    as was I....

    No you weren't. Think about it.
    The only people we should try to get even with...
    ...are those who've helped us.

    Right 'round the corner could be bigger than ourselves.
  • inmytreeinmytree Posts: 4,741
    yeah....

    but what people do in their private lives is none of your business.....right???

    or was that just for yesterday????

    im thinking how much money people donate to charity would be their own private business.......

    so you support the all on none approach, too...nice...

    "we" won't say anything about the wealthy not giving to charity and "you" won't say anything about drugs, abortion, and god....

    DEAL!!!
  • inmytreeinmytree Posts: 4,741
    know1 wrote:
    No you weren't. Think about it.

    well, since you're my brain today, what am I thinking now....?

    hint: you won't like it...
  • SPEEDY MCCREADYSPEEDY MCCREADY Posts: 25,749
    inmytree wrote:
    so you support the all on none approach, too...nice...

    "we" won't say anything about the wealthy not giving to charity and "you" won't say anything about drugs, abortion, and god....

    DEAL!!!
    umm......

    i said the amount of money anyone donates to charity is their own private business......

    and thats all i said.....

    good morning sunshine......
    Take me piece by piece.....
    Till there aint nothing left worth taking away from me.....
  • barakabaraka Posts: 1,268
    Pacomc79 wrote:

    Someone has to work in those charities. Time is harder to quantify, becuase it's no one will ever be paid what they feel they are worth, only that which they can negociate.

    Certainly the time spent helping others is harder to quantify but is no less valuable to the overall good so to speak. In other words everyone can have a role in charity should they so choose.

    A charitable contribution can come off taxes, but it's this direct gift that often helps more than a government program, and likewise that direct time contribution can mean the difference in a large number of peoples lives.

    Great point, Pacomc79! I was just thinking about the volunteers of all these charities. Those that donate their time to charities are just as important as those that donate huge sums of money. And their donated time is priceless.
    The greatest obstacle to discovery is not ignorance,
    but the illusion of knowledge.
    ~Daniel Boorstin

    Only a life lived for others is worth living.
    ~Albert Einstein
  • know1know1 Posts: 6,794
    inmytree wrote:
    well, since you're my brain today, what am I thinking now....?

    hint: you won't like it...

    I never pretended to be in your brain. I don't have to be to see that what you stated didn't make any sense.
    The only people we should try to get even with...
    ...are those who've helped us.

    Right 'round the corner could be bigger than ourselves.
  • inmytreeinmytree Posts: 4,741
    umm......

    i said the amount of money anyone donates to charity is their own private business......

    and thats all i said.....

    good morning sunshine......

    good morning to you, as well....:)
  • barakabaraka Posts: 1,268
    Perhaps this will set an example for all..............

    http://www.msnbc.msn.com/id/13541144/

    Gates: Buffett gift may help cure worst diseases
    ‘Oracle of Omaha,’ Microsoft co-founder and wife announce donations

    NEW YORK - Warren Buffett’s contribution of about $1.5 billion a year to the Bill & Melinda Gates Foundation will be used to seek cures for the world’s worst diseases and improve American education, Bill Gates said Monday.

    “There is no reason we can’t cure the top 20 diseases,” Gates said while appearing with Buffett during a donation ceremony at the New York Public Library.

    The Buffett and Gates families, as well as onlookers, were beaming as the so-called Oracle of Omaha officially made his benevolence a reality.

    “There is more than one way to get to heaven, but this is a great way,” said Buffett. He presented the biggest gift to Gates, and $1 billion donations to his own foundation and the foundations run by each of his three children.

    “It’s easy to sign. I just signed, “Dad,”’ Buffett joked while handing one of the donation documents, a stock transfer letter, to his daughter, Susie Buffett.

    Buffett said he had made some suggestions about how to use the money. But “I think their judgment above the ground is going to be a lot better than mine 6 feet below the ground,” he said at a later appearance.

    Buffett said his children have known all along that much of their family’s wealth would be given back to society. “They consider themselves lucky. They don’t consider themselves quite as lucky as if they had a father with a different view.”

    In a letter dated Monday, Buffett had informed Bill and Melinda Gates that the first donation of Berkshire Hathaway Inc. stock would go to the foundation next month.

    The foundation, which has assets of $30.6 billion, spends money on world health, poverty and increasing access to technology in developing countries. In the United States, it focuses on education and technology in public libraries.

    The money from Buffett, who is 75 but considered strong and healthy, comes with a significant catch. The letter says Buffett wants all his money to be distributed in the year it is donated, not added to the foundation’s assets for future giving. The foundation gave away $1.36 billion in 2005, so the Buffett commitment would effectively double its spending.

    Buffett had said he would give away 12,050,000 Class B shares of Berkshire Hathaway stock to the five foundations. The shares fell $22.01, or 0.7 percent, to $3,049 in afternoon trading on the New York Stock Exchange.

    The gifts would be worth nearly $37 billion, which represents the bulk of the $44 billion that Buffet’s stock holdings are worth today. Five-sixths of the shares will be earmarked for the Gates Foundation.

    In his letter to the Gates Foundation, Buffett said he admired the foundation and wanted to extend its “future capabilities.” Until now, all the money given away by the Gates Foundation has come from the couple.

    In a statement over the weekend, Bill and Melinda Gates spoke of their relationship with Buffett over the past 15 years and his influence on their philanthropy.

    “Warren has not only an amazing intellect but also a strong sense of justice. Warren’s wisdom will help us do a better job and make it more fun at the same time,” they said. The couple said they were “awed” by Buffett’s decision.

    The Buffett pledge also requires that Bill and Melinda Gates remain alive and active in the policy-setting and administration of the foundation. Buffett plans to give each foundation 5 percent of his total pledge each year in July.

    Bill Gates, the world’s richest man, announced earlier this month that he would be stepping back from his day-to-day responsibilities at Microsoft Corp. in July 2008 so he can spend more time on the Seattle-based foundation. The foundation followed his announcement by saying Melinda Gates would also be taking a more active role in their philanthropic work.

    Buffett, the world’s second-richest man, said in an interview with Fortune magazine that the timing of the two announcements — one week apart — was just “happenstance.”

    Buffett’s gift is “really significant,” not just for its size but for its potential to encourage other giving, said Diana Aviv, president and CEO of Independent Sector, a nonprofit coalition of about 550 charities, foundations and corporate giving programs that includes The Gates Foundation.

    “I’m sure there are lots of young, wealthy individuals who have made their fortunes and who are watching this very carefully,” she said. “These business leaders are icons.”
    The greatest obstacle to discovery is not ignorance,
    but the illusion of knowledge.
    ~Daniel Boorstin

    Only a life lived for others is worth living.
    ~Albert Einstein
  • inmytreeinmytree Posts: 4,741
    know1 wrote:
    I never pretended to be in your brain. I don't have to be to see that what you stated didn't make any sense.

    ok, I'll play..

    hail stated he found it "funny" that some can comment on "other peoples money"...He implied that those who were talking about "other peoples money" often complain about those who attempt to dictate choices pertaining to abortion, drugs, and god...of which was correct...therefore, I join him in his all or none approach...

    so he put out a choice...either allow everyone to involve themselves in others business (abortion, drugs, god, and charity) or everyone can make their own choices without others being involved...I'm going with the latter...so yes, I concede...I won't say anything about what people chose to give to charity if you won't say anything about abortion, drugs, or god...

    sound fair to me....
  • chadwickchadwick up my ass Posts: 21,157
    what's wrong with having a big house or an expensive car if you can afford it? if you give to charity, by donating time and/or money that's great and you should be glad that you do it. but also, you should be proud that you have been successful, and if that means treating yourself to some nice things, what's the harm in it? plus, someone had to build those homes... sell the materials... make the materials... etc. the people and business who perform those services employ lots of people who all profit from the whole thing. when it comes down to it, a person's money belongs to that person. he or she can do whatever he or she wants to do with it. hopefully that includes helping other people out through charity, but even if it doesn't, who are you to judge them for it? it's theirs, not yours.


    I don't know the exact price of these Italian sport cars.
    I know it's huge, 1/4 of a mill or something, some more.
    Why does a person need to have such an item?
    Huge mansion on the hill, I just don't understand it.
    Why the yachts, high dollar sports cars, private jets?
    When to many ppl in this nation and world-wide are going hungry.
    It is a waste of money, I M O.
    I M O to many ppl with average incomes, low incomes, wealthy incomes,
    do not give a fuck about other ppl.
    Has nothing to do with what political view a person has.

    One should help others and do not stop doing so,ever.

    And by the way, I read in here someone was adding that ppl bitching
    about what the wealthy do with their funds must just be jealous or something, the statement went something like that anyway.
    I personaly am not jealous of anyone or anything.
    I know exactly what I am about.
    And it sure isn't about being jealous.
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