Comment Re:No free rides (Score 1) 1245
Agreed. The quote is great. But, the validity of the quote is questionable at best. At this stage, if 37 billion dollars is 85% of his wealth then his family will still retain approximately 6.5 **billion** dollars. I would hardly call that "not enough to do nothing." A
reality check is in order here.
One million dollars in a plain time deposit savings account will yield approximately 40-50K/year in interest. That's enough for an average person to get by and "do nothing." With 2-3 million dollars in the bank, said person can live quite comfortably without doing anything. A billion dollars is **1000** times that. I find it arrogant if not downright insulting to hear someone say that billions of dollars are "enough to do anything but not enough to do nothing." Excuse me?
Don't get me wrong. I think that Buffet should be commended for this act of charity irrespective of whatever else he may have done right or wrong. But to say that the man is not leaving enough for his children to "do nothing" couldn't be farther from the truth. Obviously this man and his children live on a separate planet if billions are not enough to "do nothing."
As a working class member of society I interpret "not enough to do nothing" as having to work to make one's living. Maybe that's the source of the problem. These folks live in a dimension where working to live is a long distant memory.
Donate your money Mr. Buffet to charitable causes but save us the cheesy quotes. Some of us will have to do plenty during our lives and still not reach 1/1000th of the wealth that your children have access to from birth.
Sheesh...
reality check is in order here.
One million dollars in a plain time deposit savings account will yield approximately 40-50K/year in interest. That's enough for an average person to get by and "do nothing." With 2-3 million dollars in the bank, said person can live quite comfortably without doing anything. A billion dollars is **1000** times that. I find it arrogant if not downright insulting to hear someone say that billions of dollars are "enough to do anything but not enough to do nothing." Excuse me?
Don't get me wrong. I think that Buffet should be commended for this act of charity irrespective of whatever else he may have done right or wrong. But to say that the man is not leaving enough for his children to "do nothing" couldn't be farther from the truth. Obviously this man and his children live on a separate planet if billions are not enough to "do nothing."
As a working class member of society I interpret "not enough to do nothing" as having to work to make one's living. Maybe that's the source of the problem. These folks live in a dimension where working to live is a long distant memory.
Donate your money Mr. Buffet to charitable causes but save us the cheesy quotes. Some of us will have to do plenty during our lives and still not reach 1/1000th of the wealth that your children have access to from birth.
Sheesh...
