U.S. Billionaires Pledge Fortunes to Charity by Michelle Nichols, Reuters, 8/4/10, NEW YORK, "Dozens of U.S. billionaires pledged on Wednesday to give at least half their fortunes to charity as part of a philanthropic campaign by two of the world's richest men -- Warren Buffett and Bill Gates. ..."
What a wonderful way to balance out The American Dream for the millions whose wage labor created the wealth of these few hundred billionaires. Charity!
The massive Majority at the bottom sharing in The American Dream by receiving CHARITY from the Billionaires at the top.
"The campaign asks U.S. billionaires to give away at least half their wealth during their lifetime or after their death, and to publicly state their intention with a letter explaining their decision... asks billionaires to make a moral commitment to give their fortunes to charity."
What an Intelligent way for the billionaires to help the people they have used. Seem almost biblical. The clever shall help the less clever.
The clever gang of Americans, who, from the beginning, have been co-opting land and natural resources through tricky legislation, thieving banks and the use of police and national guard against unions and war protesters, have always had a few among them capable of seeking redemption for a bad conscience.
Andrew Carnegie, having made his mega fortune by taking advantage of our ignorance, built libraries that we might learn to protect ourselves from others like him (to little avail, for the clever stay one step ahead of us less clever).
Buffett said none of the members of The Giving Pledge were driven by tax breaks. ... "Anybody who is entitled to take a tax deduction takes it but I think the motivation goes far, far beyond taxes.""
Sure! Wouldn't want to give anyone the idea (or us the awareness) that the "giving' (back) was in these billionaires own self-interest - that would spoil the impression of purity meant to be made on us. But earlier in the article one such motivation was pointed out:
"Bloomberg, who is worth $18 billion, told reporters. "Your kids get more benefit out of your philanthropy than your will.""
Shrewd thinking. The billionaire's kids will rise in importance over the rest of us, be considered worthy of great trust and prestige. "More benefit," to be sure, for their future activities in accumulating capital than having all the money itself. Good for the kids' self-esteem and conscience, as well as public image. (Might even lead to the presidency of the nation that daddy seems to have missed out on so far.)
We, the less clever, might have said that we wanted our kids to love people and therefore care for the poor, the destitute, the hungry, and the sick, as natural, and not for any personal "benefit."
"The pair [Buffett and Gates] also are due to meet with some of the wealthiest people in China in September and India in March."
Perhaps fertile ground for recruiting billionaires to share their loot in these two nations of gigantic populations. China is increasingly having wage laborer unrest with some homicidal violence. One third of the starving on the planet live in India, where two million children under the age of five die annually of starvation and malnutrition annually.
Now make no mistake (if we might borrow an emphatic phrase often invoked by the Harvard graduate who is currently the top representative and defender of the what he calls the "capitalism system") this idea of the equitable fairness of charity as a social net is dominant wherever wild American style private-investment-banking is in full control of a political economy.
The unnatural, enormous amount of charity needed just to keep Majority Humanity alive is the result of the primacy of investment bankers led by those of the U.S.
Since the United States financial empire still maintains world hegemony (its military muscle frequently brought to bear), it can vigorously enforce this international regimen of billionaires and charity along with trillions of bombs.
There are, from time to time exceptions - nations escaping U.S. pressure: