Donating 99% of wealth

by garam-kuta Tue Dec 01, 2015 10:16 pm

Zuckerberg and Chan are donating 99% of their facebook shares worth about 45B to charity.
speechless.

by Kris Wed Dec 02, 2015 5:01 am

Veeu wrote:Zuckerberg and Chan are donating 99% of their facebook shares worth about 45B to charity.
speechless.

>>>The best part of creating crazy wealth.

by southindian Wed Dec 02, 2015 12:19 pm

I cannot tolerate this.

I'm officially intolerant. I hereby decide to "leave" my office to get a piece of marble cake.

by seven Wed Dec 02, 2015 12:58 pm

God bless Max.

by confuzzled dude Sat Dec 05, 2015 4:45 pm

Magnates in the early 20th century were hardly crusaders for economic justice. Rather, wealthy businessmen opposed nearly every significant effort to ameliorate poverty, from relatively modest proposals to Franklin Delano Roosevelt’s wide-ranging New Deal. Indeed, history shows that one can champion health and education without addressing poverty at all.

Wealthy magnates fought most attempts to give the working-class a modicum of economic security. Most moguls bitterly opposed unionization and scoffed at the notion of workers’ rights. Business interests supported the creation of the nation’s first workmen’s-compensation laws but only because they were tired of squabbling over injury claims in court. Meanwhile, working poverty remained commonplace primarily for one reason: Employers kept profits high by keeping wages low. Even during the depths of the Great Depression, most wealthy businessmen opposed New Deal programs—from government-sponsored unemployment compensation and Social Security to protecting workers’ right to unionize—that eventually helped lift many working-class Americans out of poverty.

As wealthy businessmen in the early 20th century well knew, ending poverty demanded far more than promoting education and good health. Indeed, it entailed something most of them fought against tooth and nail: revamping the distribution of power and economic resources between society’s haves and have-nots.

Whether today or in the early 20th century, that means abolishing poverty wages, promoting labor rights, and garnering tax dollars to build a safety net strong enough to cope with enduring shortcomings in the labor market (goals that Zuckerberg and Chan perhaps hint at in passing when they write, “it's difficult to reach your full potential” when worrying about “food or rent”).

http://www.theatlantic.com/politics/archive/2015/12/the-shortcomings-of-billionaire-philanthropy/418938/

by truthbetold Sat Dec 05, 2015 7:07 pm

CD,

These rich people's donations are supplementary to elected representative govt's actions. Why do you see them as some kind of alternative govt action?

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