The Spark

the Voice of
The Communist League of Revolutionary Workers–Internationalist

“The emancipation of the working class will only be achieved by the working class itself.”
— Karl Marx

“Giving Pledge”:
A Lot of Hype; a Hollow Pledge

Dec 13, 2010

Bill Gates, Warren Buffett and a fistful of other billionaires have signed a pledge to give away at least half of their wealth to charities.

Are we supposed to think these billionaires are making a sacrifice? If Warren Buffet were to give away 99% of all his wealth–he’d still have 450 million dollars!

And they’re not really giving away even that, since they control the foundations that fund the charities. The foundations are only required to spend 5% of their endowments every year–investing the rest, rolling up more profit.

They got rich by ripping off the workers–and they want to keep doing it. And look like angels!