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View Diary: Warren Buffet's Son Calls For Revolution. Well, Sort Of. (66 comments)

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  •  dfe - well, it's not Peter's money (2+ / 0-)
    Recommended by:
    Lilredhead, elwior

    and Warren Buffet has made it clear that very little of his wealth will go to his children.

    "let's talk about that"

    by VClib on Sun Jul 28, 2013 at 06:10:27 PM PDT

    [ Parent ]

    •  So What? (3+ / 0-)
      Recommended by:
      elwior, yuriwho, mightymouse

      Peter Buffet is independently wealthy and will never want for anything. He grew up with every advantage and made a very successful career for himself. More to the point, he is sits at the head of a huge charity endowment so he has the means to make a real difference with the wealth he controls.

      •  He controls a lot of money (1+ / 0-)
        Recommended by:
        elwior

        but it's not his own. He has seen how the 0.1% operate. I find his commentary interesting.

        My brother (who has some mental health issues) once created an "incident" when he saw a group of Haitian immigrant workers, working super hard on a farm in the Dominican Republic near the Haitian border. He decided that he should share some of his wealth with these very overworked temporary farm workers. He decided that tramping into the field holding up an American 5 dollar bill would be a good thing to do.

        My cousin had to rescue him from the riot that nearly engulfed him.

        I think Peter is saying that philanthropy needs to focus more on providing bootstraps to the disadvantaged (improved health and a means of providing for families) than making new mini-economies that mirror western capitalism and create profit for an investor. Make the families healthy and self sufficient and a local economy will develop.

        Disadvantaged areas in developing countries need families to be self sufficient for an economy to develop.

        Listen to Netroots Radio or to our pods on Stitcher. "We are but temporary visitors on this planet. The microbes own this place" <- Me

        by yuriwho on Sun Jul 28, 2013 at 09:50:13 PM PDT

        [ Parent ]

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