Tuesday, June 27, 2006

You probably didn't watch the news conference yesterday given by the Gateses and Warren Buffett. The enormity of what they are doing is beyond comprehension. Buffett is giving away 37 Billion dollars to the Gates Foundation for them to give away the money that is earned on the corpus. With the resources that Gateses already had, that gives them 60 Billion and they must spend 3 Billion a year. The most impressive thing about questioning by the press was how both the Gates and Buffet handled every question with aplomb. They sounded like such normal people as they spoke. Some of the questions were insulting, some accusational. Nevermind, they trio just responded non plussed.

How will you make sure all the money is well spent? Well we'll try. Sometimes we'll fail. But we'll just keep trying.

Why give the money to Gates? They'll do a better job giving it away than I will.

Why give the money to society instead of to his children?
"Huge fortunes tat flow in large part from society should in large part be returned to society."

They mentioned that Ted Turner had started all this by giving away a billion and challenging other rich people to join him.

Projects they are taking on: eradication of Malaria; hunger in Africa; elimination of AIDS.

Gates said governments don't have the resourses to tackle these kinds of problems in an election cycle and don't have the will to go longer than an election cycle.

Surely the GOP will find a way to investigate this.

There was a time when Gates was listed as the least philanthropic of all rich people. I guess that bothered him.

Would that the uber rich spoke to the Republican party and said, "Hey, we want to pay more taxes to take the burden of debt off of the country. Anyway, we don't need the money." Maybe Gates and Buffett will pick them off one at a time. Are you listening Gallo, Walton, and Mars families?

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