Open letter to Bill Gates, Warren Buffet and other "liberal" rich folk

[ProudDad]

Why aren't you putting your money to work where it could do the MOST good?

Giving fish to the poor ain't gonna change ANYTHING.

Here's the deal. Thanks to the final nail of "Citizens United", it's now the law of the land that the government "of, for and by the People" at EVERY level is up for sale to the highest bidder.

And the highest bidder (who wudda' thunk it?) are large corporations and their owners. In case you haven't noticed, unions and humans are being outspent 100 to 1 by the most egregious players in the "system".

Couldn't you spare about 2.5% of your HUGE wealth to counter-balance the destruction that will ensue if these big spenders get their way? If the right-wing gets their electoral wish and flips the Congress again combining a republican majority with blue-dog democrat class traitors -- we're screwed!

And you will find it that much harder to provide decent food, housing, education and health care for We the People in the face of accelerated wealth transfer to the very top of the income pyramid.

If you rich guys with a "heart" can't freakin' see the obvious then SHAME ON YOU!

------------------

You could start with a Billion Dollar campaign to END CORPORATE "PERSONHOOD" and institute PUBLIC financing of our public elections at EVERY LEVEL.

[digitaln3rd]

1. Um.

Why don't YOU?

Last I heard we still lived in a country where we can do what we want. Last I heard, the Bill and Melinda Gates Foundation was ranked the 2nd most generous foundation in America.

http://en.wikipedia.org/wiki/Bill_and_Melinda_Gates_Foundation

[Count Olaf]

7. the thing is...the rich and powerful...have a lot more money and power

When the little people scream in the forest does it make a sound?

[ProudDad]

9. Maybe because 2.5% of my net worth

is about $500...not much against the corporate hundreds of millions...

All I have to give is my 40-60 hours per week of sweat equity (now that I'm retired and live on Social Security)...

And as for the foundation, they're feeding people a few fish NOT making it possible for folks to even learn how to fish... They are horribly Paternal...

Unlike the vast right-wing corporate money that knows how cheap and effective it is to create the environment for their greed, Gates and Buffet and the rest of the "bleeding hearts" are putting band-aids on the symptoms while ignoring the cancer...

[fascisthunter]

13. who said anything about being forced?

Why are you misenterpreting what was said...? Also, you can do what you want with your money, but just keep this in mind... the underclasses make it all possible.

[unblock]

2. bill gates is liberal?

i've never heard anything about his politics, but his ethics as a business man do not mesh very neatly with liberal philosophy at all.

bill gates sr., on the other hand, has said a few things publicly about taxes, HE might be a liberal. not so convinced about junior.

[Sen. Walter Sobchak]

4. Bill Gates Sr. was Planned Parenthood's lawyer

Can I make it any more clear?

[Yeshuah Ben Joseph]

10. He's also leading the effort to get a ballot initiative passed in Washington state

for an income tax ONLY on the rich (similar to the one passed recently in Oregon.)

The Elder Mr. Gates even allowed himself to be "baptized" for the occasion....

http://www.youtube.com/watch?v=ayCmNlo80a4

[unblock]

14. right - i know about senior. i'm questioning junior.

[blondeatlast]

17. Lawyers take on anyone. The topnotch firm representing DU (Winston & Strawn--

and they are topnotch) have represented plenty of clients DUers would not be pleased about. Sometimes, they sympathize with the case, sometimes they are just in it to win it, even if just for the glory.

That means nothing at all.

(I work in the field)

[Sen. Walter Sobchak]

19. Gates Sr. was also on the board of directors,

Bill Gates parents were activists for reproductive choice, this isn't a subject of dispute.

[Hannah Bell]

21. supporting birth control for the masses doesn't make one liberal.

[walldude]

16. Jr's wife keeps him in line... She's the liberal...

He's an ass.

[exboyfil]

3. These folks (Gates and Buffet)

think that they can spend their money better for good than giving it in taxes to the U.S. Treasury (charitable foundation that avoids capital gains taxes and ultimately inheritence taxes). Why is this? Once you answer this question, then you will get much closer to the truth of what is going on. Their politics might be on the surface liberal, but, just like the Kennedys, they know better than the common man on how to spend their money. Also their charitable organizations provide future jobs for their progeny. Remember the Kennedy that was killed in a skiing acident. One of the nice things said about him at the time of his death was that he was working to provide heating oil to the poor. Collecting a six figure salary to do this mind you.

Actually their approach is no different than rich conservatives like Limbaugh who do give away alot of money as well. During election campaigns you often see the Republicans with much higher levels of charitable giving as a percentage of income than the corresponding Democrats.

Remember these guys are not impacted much by changes to the Income Tax code. Their wealth comes from capital appreciation and/or within low dividend paying corporations. While corporate income taxes might get paid in part, these too can be avoided by a loophole riddled tax code. Other than those corporate taxes most of their money will never be taxed. Their stock will go into the trust, be sold eventually with no tax consequences, and be used to do what they perceive is the best good for society.

I do think that adjustments need to be made on how corporations are treated, but probably not as drastic as what you have in mind. The first step would be for greater tax fairness (simplify and tighten the corporate income tax structure). Also management cannot count proxies not turned in as management votes. Greater willingness to pierce the corporate veil in tightly held corporations. The veil was never intended to be used this way. No way these holding companies can be viewed as passive investors. I think sustaining corporations are ultimately a good for society - many of the modern conveniences in our lives would not be present without them. I just cannot see a partnership sustaining complex industries like corporations.

Some questions about public financing of elections. As you apply laws to suppress speech at what point do you stop. Can bloggers be shut down from advocacy? What about Thomas Paine and his tracts? In this internet age with wall to wall cable stations catering to every political desire - how influential actually is media spend? For example Wellstone's effective campaign ad. Lots of ways to get the message out now exists.

[zeemike]

5. I think I know what they would say.

How much can I make by doing that?
The number one job is to protect their wealth and grow it.

[Count Olaf]

6. Bill Gates is spending his money fighting overpopulation by vaccinating Africa

Because they are using all the damn resources up, he might not have enough oil to fly his private jet to pick up his award from his buddies.

[whistler162]

8. OR put simply... you aren't donating the billions

you are already donating to the causes the OP deems acceptable!

[ProudDad]

11. Or put correctly

they're pissing away a few millions putting band-aids on the symptoms...

While the right-wing is spending hundreds of millions to increase the size of the cancer that will return them more billions at the expense of Earth and her Creatures!

[earth mom]

12. You forgot Oprah. I'm pissed at her for her Union Bashing of teachers. Most Rich People Suck!

I used to think that rich people were fine if they came from humble backgrounds.

But more and more I realize that there are but a few of them who are willing to do the right thing about things that really matter. :argh:

[ProudDad]

15. Yeah, I forgot about her...

She's more of the propaganda arm of the "Horatio Alger" wing of the corporate democratic party...

"You too could look under your seat and find a trip to Australia!" Whoopee!

But cash to change the politics of the country in the correct direction...sorry...!

[ProudDad]

18. Just to clarify, when I use the term "liberal"

I use it in this kind of context:

Love Me, I'm a Liberal
Phil Ochs - 1940-1976
Killed by Capitalism

I cried when they shot Medgar Evers
Tears ran down my spine
I cried when they shot Mr. Kennedy
As though I'd lost a father of mine
But Malcolm X got what was coming
He got what he asked for this time
So love me, love me, love me, I'm a liberal

I go to civil rights rallies
And I put down the old D.A.R.
I love Harry and Sidney and Sammy
I hope every colored boy becomes a star
But don't talk about revolution
That's going a little bit too far
So love me, love me, love me, I'm a liberal

I cheered when Humphrey was chosen
My faith in the system restored
I'm glad the commies were thrown out
of the A.F.L. C.I.O. board
I love Puerto Ricans and Negros
as long as they don't move next door
So love me, love me, love me, I'm a liberal

The people of old Mississippi
Should all hang their heads in shame
I can't understand how their minds work
What's the matter don't they watch Les Crain?
But if you ask me to bus my children
I hope the cops take down your name
So love me, love me, love me, I'm a liberal

I read New republic and Nation
I've learned to take every view
You know, I've memorized Lerner and Golden
I feel like I'm almost a Jew
But when it comes to times like Korea
There's no one more red, white and blue
So love me, love me, love me, I'm a liberal

I vote for the democratic party
They want the U.N. to be strong
I go to all the Pete Seeger concerts
He sure gets me singing those songs
I'll send all the money you ask for
But don't ask me to come on along
So love me, love me, love me, I'm a liberal

Once I was young and impulsive
I wore every conceivable pin
Even went to the socialist meetings
Learned all the old union hymns
But I've grown older and wiser
And that's why I'm turning you in
So love me, love me, love me, I'm a liberal

[reformist2]

20. Can someone answer this?

I just heard that the Gates and Buffett pledge to donate their money would mean that the government wouldn't receive anything from their estates when they die... is this true? If so, isn't this yet another way of starving the government of revenue???

[Hannah Bell]

22. yes. their heirs will control their tax-free foundations, have sinecured jobs, &

get to trot around the globe doing "good works" that shape the direction of the economy & give them an inside edge on amassing their own billions.

plus the kiddies have nice little tax-free trusts providing them a steady income.

no worries about the gates & buffett progeny, they'll never go hungry.

[reformist2]

23. I think I get it. They want to kill Social Security, Medicare, etc.

They sound like Republicans in disguise. What else am I to think, when they would rather spend their dollars on their pet projects than do their part in funding our two largest social programs?

[ProudDad]

25. They fund Social Security

at the same rate as someone making $106,800...that is, $13,243.20 per year...

On his average income of $5,800,000 per DAY...over the last 25 years...

That's 5.8 million bucks a day - or $725,000 an hour... a little over minimum wage... even for CEOs...

As much as I hate micro$oft though, as much angst and mental anguish their substandard crap operating systems have caused me during the final 20+ years of my computer career...

I must give Gates and his father props for being among the ONLY filthy rich people (along with W. Buffet - thus the title of the OP) who are willing to say out loud that the rich should pay more taxes...

My beef with their "pet projects" is that they are mere band-aids on the sucking chest wound that is corporate capitalism...

[exboyfil]

24. I read how Sam Walton was able to pass so much of

his estate along to his heirs. Early in the formation of his company he divided equity stakes up for his children etc. As the company grew these equity stakes also grew. If he had waited to chop it up later, then the tax consequences would have been enormous (thus leading to the trust approach favored by Gates and Buffett and Turner as well). The next generation will see the charitable trust tax dodge. It is for good works you know.

France has a wealth tax. What would the impact of such an approach be in the U.S.?

[GeorgeGist]

26. If they could see the obvious ...

they wouldn't have sold their souls to GREED.

[GeorgeGist]

27. If they could see the obvious ...

they wouldn't have sold their souls to GREED.

[blindpig]

28. Class trumps party. eom