I just read this article ...
Warren Buffett Gives Away His Fortune
(including the four linked articles at the bottom) and I couldn't be happier with capitalism. Sure, I wish it didn't take so long for Mr. Buffett to actually part with his enormous fortune but the fact that he is now doing so in a way unmatched by even the greatest benefactors in history softens my disappointment.
It's pretty funny to think of the world's second richest man giving the majority of his fortune to the world's richest man but if you can get past that, it's truly remarkable.
The Government didn't have to tell Mr. Buffett that he needed to redistribute his wealth any more than they have through their regular tax engines. He simply saw inequities and he took a course of action that he felt would be best to remove them.
He's not being greedy by setting up a foundation of his own name just to get "credit" for his charitable gifts, rather, he's giving his funds to an organization already prepared to charitably distribute his sizable donations without having to "ramp-up" an administrative infrastructure. As should be expected, Mr. Buffett is making his contributions in the same way he made his fortune, the most efficient and effective way possible.
His sense of civic (global) duty and social responsibility should be the story of the day/week/month and possibly the year although I doubt it will be. I can hope anyway.
For those interested in furthering their philanthropic research, I recommend two resources.
First, is the Slate 60. Inspired by Ted Turner's comments about a Forbes "richest" list, it's an annual list of the top philanthropists in the world. I sincerely hope that someone I know (personally) makes that list some day but, at this point, that seems like a long shot.
Secondly, is the Charity Navigator. This is a phenomenal website that I stumbled on while I was in college. It's a great place to either start your research or to make sure you're making the right decision right before making a donation to a particular organization.
Posted by languorous at June 26, 2006 10:55 AMI was quite impressed when I read the headline on MSN.com. It is the brightest side of capitalism as far as Im concerned. Too bad the liberal media usually does not emphasize how much is given in donations a year by business. When business owners can donate significant funds to charity, its a win-win. The business has already provided many people with successful careers, and now is giving back further to the general public. For all the jokes made about Bill Gates, he is a great guy. Now I add Buffett to my list of highly respected people :-)
Posted by: Jon at June 29, 2006 08:52 AM