What are your thoughts on billionaires donating a lot of money for philanthropic causes which albeit is still a small fraction of their wealth? Do they need to do more or do they not owe the world anything?
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Obviously billionaires donating a lot of money to good causes is a good thing, but I think billionaires shouldn't exist in the first place. They only have this much money because they start with a lot of money and in our society the rich get richer and the poor get poorer. And they have so much money because so much of the population live below the poverty line. Nobody needs billions but people (who are most definitely not billionaires) believe they have earned their money- because they think one day they can also earn enough money to be a billionaire. But being a billionaire isn't about working hard its about extorting the poor.
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Ideally they should use their money. Net worth is made off of all your assets. If your house is worth a million you don't have a million dollars you have a house. But sitting on a million dollars of cash stifles the economy as it requires cash to flow in order to flourish. So even if they are worth billions, as long as they aren't hold onto literally a billion dollar in cash. They can do what ever.
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No matter how much money someone makes or has locked away in assets its up to them to decide when and where they want to donate time, money, food, or whatever else. For someone else besides them to decide I think is wrong because someone else doesn't know what financial situation they are in or what their financial goals are.
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Idk them personally maybe they're doing it for a good purpose or they're doing it for attention. It doesn't matter how much they give, it matters if the thought and care is there.
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It's usually for tax reasons. Bill and Melinda Gates seem to be doing good things for the right reasons though
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I love how we feel we are so damn important that we think we have a right to say someone else needs to give away even more of THEIR money
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I feel like its a kind gesture, but the fact it is such a small amount of their wealth is symptomatic of the real issue, and that they should also pay their taxes.
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It's still a lot of money! Why does the percentage of their total worth when the amount they're donating is significant enough to possibly make a difference!? They don't owe anyone anything and the fact that they're donating at all is and should be recognized.
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Ideally they should use their money. Net worth is made off of all your assets. If your house is worth a million you don't have a million dollars you have a house. But sitting on a million dollars of cash stifles the economy as it requires cash to flow in order to flourish. So even if they are worth billions, as long as they aren't hold onto literally a billion dollar in cash. They can do what ever.
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