Earlier quoted context omitted.
Farenthold's reporting covers it quite extensively
Link?
Michael Dell Pledges $36M in Harvey Relief
51–60 of 74 posts
Re: Michael Dell Pledges $36M in Harvey Relief
#52Re: Michael Dell Pledges $36M in Harvey Relief
#53Re: Michael Dell Pledges $36M in Harvey Relief
#54Gents,
Don't be too judgemental about it.
Let's hope that these money will actually reach victims.
Which is not given.
Re: Michael Dell Pledges $36M in Harvey Relief
#55Sincere props to Michael Dell and other very wealthy individuals who are donating generously, but it raises the question of why this sort of gesture is even necessary in our society. Making people financially whole and getting them back on their feet in the aftermath of a disaster of these proportions should be handled by insurance, and when that falls short, the government. The problem is not that the money is priva…
The problem is not that the money is private, but that it's donation relies on the compassion of individuals, not on laws. As it should be. Generosity should not be forced on people via fear of the law (i.e the consequences for not paying your taxes). Even further, a private citizen is often far more in control of the effective distribution of their resources as compared to government.
You see it as enforced generosity. Others see it as general societal obligation to take care of its members when hit by forces not under their control. If you were hit by similar circumstances, I'm not sure you'd be as quick to denounce "forced" generosity, especially if there wasn't a sympathetic local billionaire around.
That said, I'm sympathetic to the general problem of government not utilizing resources efficiently.
Re: Michael Dell Pledges $36M in Harvey Relief
#56Dell is an outstanding Texan this is great to hear.. I donated as well but mine was a little shy of $36M
Michael Dell is worth $22.9 billion; $36m is 0.157% of his wealth. For you to donate an equivalent amount, you only have to donate $157 per $100k of your net worth.
Not only does money not scale linearly like that, Michael Dell's net worth is very volatile and illiquid, making a straight comparison not all that helpful.
Re: Michael Dell Pledges $36M in Harvey Relief
#57Sincere props to Michael Dell and other very wealthy individuals who are donating generously, but it raises the question of why this sort of gesture is even necessary in our society. Making people financially whole and getting them back on their feet in the aftermath of a disaster of these proportions should be handled by insurance, and when that falls short, the government. The problem is not that the money is priva…
> should be handled by insurance, and when that falls short, the government.
This is pretty much how I feel about all social issues like health care, homelessness, education, etc...
Large donations are nice, and we should all be grateful for such generosity, but I'd much rather pay an extra bundle in taxes so our government can be adequately prepared for all these scenarios.
Re: Michael Dell Pledges $36M in Harvey Relief
#58Earlier quoted context omitted.
Michael Dell is worth $22.9 billion; $36m is 0.157% of his wealth. For you to donate an equivalent amount, you only have to donate $157 per $100k of your net worth.
Not only does money not scale linearly like that, Michael Dell's net worth is very volatile and illiquid, making a straight comparison not all that helpful.
I get the feeling this was a glib example interest/amusement not to be take as an economic truism. And I suggest if you going to jump on any statement an claim its wrong, include information to back up your assertion. I like to think HN comments add value and we don't encourage taking easy pot shots at comments. For that reason I gave you a downvote, and also took the time to explain why I feel that was needed.
Re: Michael Dell Pledges $36M in Harvey Relief
#59Sincere props to Michael Dell and other very wealthy individuals who are donating generously, but it raises the question of why this sort of gesture is even necessary in our society. Making people financially whole and getting them back on their feet in the aftermath of a disaster of these proportions should be handled by insurance, and when that falls short, the government. The problem is not that the money is priva…
I'm not sure what to think of that attitude. I understand the motivation, but I find this statement particularly odd: > donation relies on the compassion of individuals, not on laws. It would be odd to expect laws to be more compassionate on average than all the individuals under the laws, particularly in an ostensibly democratic society. Yet I can think of several plausible reasons to expect laws to be less compassi…
The problem with slashing taxes and then outsourcing all of our public goods and social support systems to private patronage is that then the wealthy get to decide how they will work, with little public accountability.
So if e.g. the main charity in town is a religious group, all of the homeless shelters and soup kitchens will come with a side of proselytizing or decide to turn away supposed blasphemers. Or if some of the main supporters of academic research happen to be motivated billionaires, we’ll see results that suspiciously align with their personal interests. Etc.
Re: Michael Dell Pledges $36M in Harvey Relief
#60Sincere props to Michael Dell and other very wealthy individuals who are donating generously, but it raises the question of why this sort of gesture is even necessary in our society. Making people financially whole and getting them back on their feet in the aftermath of a disaster of these proportions should be handled by insurance, and when that falls short, the government. The problem is not that the money is priva…
> The problem is not that the money is private, but that it's donation relies on the compassion of individuals, not on laws.
Well, that's the american (US?) culture. Different ways of doing things.