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Gates Makes Largest Donation Since 2000 with $4.6B Pledge

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Re: Gates Makes Largest Donation Since 2000 with $4.6B Pledge

#241

Post by randyrand »

meric wrote: post #219
randyrand wrote: post #210

Earlier quoted context omitted.

> That’s according to a recent study by two Italian economists, Guglielmo Barone and Sauro Mocetti, who compared Florentine taxpayers way back in 1427 to those in 2011. Comparing the family wealth to those with the same surname today, they suggest the richest families in Florence 600 years ago remain the same now. I recall that study. They were still a multiple orders of magnitudes less wealthy, and that ignores any…

I don't agree on large marginal taxes on labor, you'd be targeting high earning surgeons rather than rich families inheriting wealth. If we want to tax capital, tax capital, and put a wealth tax of low single digit percentage point paid yearly. If you want to exclude people's first home, then do that.

I'm still not sure how much of a problem this really is.

88% of the very wealthy ($30+ million) in the USA made their wealth themselves.

https://www.forbes.com/sites/niallmccarthy/2016/10/10/where-...

...the best source I could find.

Re: Gates Makes Largest Donation Since 2000 with $4.6B Pledge

#242

Post by forapurpose »

ethbro wrote: post #226
forapurpose wrote: post #223

Earlier quoted context omitted.

> despite what the media or anti-capitalists say, the top 1% are able to have the biggest impact I think this argument misses, or even reinforces a core criticism about the concentration of wealth. The criticism is that so much and such disproportionate power should not be concentrated in the hands of one individual. It's fundamentally undemocratic and a danger to society. In a democracy a broad-based group of citize…

> 1,000 people who donate a million will have exactly the same impact as one who donates a billion and will be far more democratic. Except if they don't. Or they do to a variety of causes, each with duplicate administrative overhead. I'm not a fan of wealth concentration, but it does afford patronage opportunities that simply aren't taken on average in the alternative "more people with less money" world.

> Except if they don't. ...

Except when the billionaire doesn't. Is there evidence that billionaires donate a greater proportion of their wealth or more effectively than millionaires? Is a market of 1 more efficient than a market of 1,000?

I'd bet that the law of large numbers applies here, and the 1,000 people are overall more consistent than 1 person, and less prone to extreme swings.

It sounds like the trickle-down economics version of philanthropy.

Re: Gates Makes Largest Donation Since 2000 with $4.6B Pledge

#243

Post by Jaruzel »

dragonwriter wrote: post #215
olewhalehunter wrote: post #213

Earlier quoted context omitted.

Bill Gates was not upper "middle class", his household was solidly in the 1%, he had computer programming access at his private school (this is 1968), and his mother's friendship with the president of IBM at the time was the reason he got contracted to write DOS. https://en.wikipedia.org/wiki/Mary_Maxwell_Gates#Career

> Bill Gates was not upper "middle class", his household was in the 1% Seems to have been a successful petit bourgeoisie , or upper middle class, family. In traditional understanding of class relationships in capitalist society, the middle class isn't mostly middle income but well above; the majority of society is the working class dependent on wage-labor. The upper (capitalist or haut borgeoisie ) class is a very th…

Sorry to nit-pick, but I didn't know the exact definition of 'petit bourgeoisie' and Google says it's actually lower middle class:

https://www.google.co.uk/search?q=petit+bourgeoisie&oq=petit...

Re: Gates Makes Largest Donation Since 2000 with $4.6B Pledge

#244

Post by lorenzorhoades »

forapurpose wrote: post #242
ethbro wrote: post #226

Earlier quoted context omitted.

> 1,000 people who donate a million will have exactly the same impact as one who donates a billion and will be far more democratic. Except if they don't. Or they do to a variety of causes, each with duplicate administrative overhead. I'm not a fan of wealth concentration, but it does afford patronage opportunities that simply aren't taken on average in the alternative "more people with less money" world.

> Except if they don't. ... Except when the billionaire doesn't. Is there evidence that billionaires donate a greater proportion of their wealth or more effectively than millionaires? Is a market of 1 more efficient than a market of 1,000? I'd bet that the law of large numbers applies here, and the 1,000 people are overall more consistent than 1 person, and less prone to extreme swings. It sounds like the trickle-dow…

We have exactly what your explaining in the form of taxes, and the outcomes are terrible. We spend $1B on a healthcare website, that other companies have duplicated for a mere decimal point of the price. Not only that, but it actually turned out worse, cause now it's mandatory to have Healthcare, and for those who can't afford the "affordable health care plan", now have an additional payments in "penalties" for not being able to afford it and they STILL don't have health insurance. This is just one point of a thousand were socialistic practices are completely contrary to the original point. Let the people who create enough value to the world decide where they want to spend their money.

Re: Gates Makes Largest Donation Since 2000 with $4.6B Pledge

#245

Post by Iknown0thing »

braydenm wrote: post #68

Although there are many cynics, it's quite remarkable the impact on the world donations can have. Here's what their foundation has actually been doing with the money: https://www.gatesfoundation.org/Who-We-Are/Resources-and-Med... I wouldn't be surprised if private donations will eventually be responsible for the eradication of Malaria (1000 deaths daily, much more suffering and cost to society). If you're in tech yo…

As much as like the new way of distributing wealth in this manner, some of the foundations Christians fundamentals worry me. For example - https://www.gatesfoundation.org/how-we-work/quick-links/gran...

I tried looking for similar grants to religious services organizations from other religions, but my search came up empty. Very happy to stand corrected on this.

Re: Gates Makes Largest Donation Since 2000 with $4.6B Pledge

#246

Post by [deleted] »

forapurpose wrote: post #242
ethbro wrote: post #226

Earlier quoted context omitted.

> 1,000 people who donate a million will have exactly the same impact as one who donates a billion and will be far more democratic. Except if they don't. Or they do to a variety of causes, each with duplicate administrative overhead. I'm not a fan of wealth concentration, but it does afford patronage opportunities that simply aren't taken on average in the alternative "more people with less money" world.

> Except if they don't. ... Except when the billionaire doesn't. Is there evidence that billionaires donate a greater proportion of their wealth or more effectively than millionaires? Is a market of 1 more efficient than a market of 1,000? I'd bet that the law of large numbers applies here, and the 1,000 people are overall more consistent than 1 person, and less prone to extreme swings. It sounds like the trickle-dow…

[deleted]

Re: Gates Makes Largest Donation Since 2000 with $4.6B Pledge

#247

Post by mborch »

Jaruzel wrote: post #243
dragonwriter wrote: post #215

Earlier quoted context omitted.

> Bill Gates was not upper "middle class", his household was in the 1% Seems to have been a successful petit bourgeoisie , or upper middle class, family. In traditional understanding of class relationships in capitalist society, the middle class isn't mostly middle income but well above; the majority of society is the working class dependent on wage-labor. The upper (capitalist or haut borgeoisie ) class is a very th…

Sorry to nit-pick, but I didn't know the exact definition of 'petit bourgeoisie' and Google says it's actually lower middle class: https://www.google.co.uk/search?q=petit+bourgeoisie&oq=petit...

It most certainly isn't. The Wikipedia article has an accurate description. Google pulls a wrong definition for some reason.

Re: Gates Makes Largest Donation Since 2000 with $4.6B Pledge

#249

Post by rusk »

Iknown0thing wrote: post #245
braydenm wrote: post #68

Although there are many cynics, it's quite remarkable the impact on the world donations can have. Here's what their foundation has actually been doing with the money: https://www.gatesfoundation.org/Who-We-Are/Resources-and-Med... I wouldn't be surprised if private donations will eventually be responsible for the eradication of Malaria (1000 deaths daily, much more suffering and cost to society). If you're in tech yo…

As much as like the new way of distributing wealth in this manner, some of the foundations Christians fundamentals worry me. For example - https://www.gatesfoundation.org/how-we-work/quick-links/gran... I tried looking for similar grants to religious services organizations from other religions, but my search came up empty. Very happy to stand corrected on this.

Just cross-referencing jk2323 here who makes an interesting point in this regard [0]

  *He should improve contraception instead*
You're pointing out that a lot of these organisations are based on a Catholic ethos. Given the church's outspoken position on contraception, could the pointed nature of these donations actually be doing some harm?

Given 1000 donors donating a million vs 1 donor with a billion (as somebody else points out below) you could imagine such biases being averaged out ...

[0] https://news.ycombinator.com/item?id=15024948

Re: Gates Makes Largest Donation Since 2000 with $4.6B Pledge

#250

Post by mikeyouse »

Iknown0thing wrote: post #245
braydenm wrote: post #68

Although there are many cynics, it's quite remarkable the impact on the world donations can have. Here's what their foundation has actually been doing with the money: https://www.gatesfoundation.org/Who-We-Are/Resources-and-Med... I wouldn't be surprised if private donations will eventually be responsible for the eradication of Malaria (1000 deaths daily, much more suffering and cost to society). If you're in tech yo…

As much as like the new way of distributing wealth in this manner, some of the foundations Christians fundamentals worry me. For example - https://www.gatesfoundation.org/how-we-work/quick-links/gran... I tried looking for similar grants to religious services organizations from other religions, but my search came up empty. Very happy to stand corrected on this.

This is a silly complaint -- Some of the 'religious' grant money goes to Catholic Relief Services who happen to be one of the largest charity groups operating in Africa. Most of these funds go to Agriculture / emergency relief.

They've also given over $150 million to the Islamic Development Bank to support their vaccine efforts and smaller amounts to dozens of other Muslim-based groups for different initiatives. Likewise for Jewish organizations.

B&MG Foundation are incredibly results driven, all of their grants come with direction for measuring impact and reporting on it. They aren't giving to religious organizations to further religion, but because those organizations are best suited to reach the most people or best suited to responsibly steward enormous amounts of money and resources.

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