The Spark

“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!