Bill Gates says most of the $200 billion he's pledged to donate will go to Africa
(www.cbsnews.com)
from MicroWave@lemmy.world to world@lemmy.world on 03 Jun 12:28
https://lemmy.world/post/30702593
from MicroWave@lemmy.world to world@lemmy.world on 03 Jun 12:28
https://lemmy.world/post/30702593
Bill Gates is revealing his plans for the $200 billion he intends to give away through his foundation over the next 20 years, vowing that much of the money will go to Africa.
Gates, who earlier this month told “CBS Mornings” about his plans to donate the bulk of his fortune, disclosed his intentions to focus on Africa on Monday while speaking at Nelson Mandela Hall at the African Union in Addis Ababa, Ethiopia.
Gates had previously said his goal was to fund causes that would help save and improve lives around the globe.
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At this point Gates ignoring America makes it look like he’s fine with the way things are going
… why wouldn’t he be? He’s winning
There are people with even more money and political power against him in America
Why would he start shit there when he can do massive changes in Africa?
He claimed he could do more good in Africa. But that was never true
As evident by the current American government causing massive amounts of damage across the globe.
I don’t think you’re understanding the Bill Gates timescale either. Like, you think we’re talking about the last decade or something
What timescale? Dude has spent more money on helping the world than anyone else
Or do you have any examples of other people who have done more?
It shouldn’t be his money to spend; it’s been skimmed from all the people he has underpaid and the taxes that he’s avoided for decades.
Billionaires shouldn’t exist, even ones with good PR like Gates.
That $200b definitely wasn’t generated by underpaying employees and avoiding taxes.
Oh yeah, I forgot to add monopolistic practices that prevented people from effectively operating competing businesses.
That should about cover it.
That’s still not where the $200b came from.
Please enlighten me on how he could have acquired $200 billion dollars if he had paid his fair share in taxes, fairly compensated his labor, and refrained from monopolistic business practices.
As a reminder, the tax rate for the wealthy during the highest period of economic growth was as high as 91%, whereas Gates has never paid more than 40%.
How do you think his stocks were juiced if not for the aforementioned monopolistic business practices? What kind of capital gains taxes did he pay on those compared to what labor pays on their income? Why should he pay at a lower rate than people who work for a living instead of holding onto wealth?
But perhaps you misunderstand my point: a healthy society would not allow this kind of wealth disparity, as it is inherently destabilizing.
A huge amount of that 200B should have been spent over the years on social programs and infrastructure if the USA taxes its rich properly , not in Africa. Tax cuts for the rich doesnt help, yet the Republican sheep will fight for it.
How much of that will go straight to the CCP in the form of interest payments on Belt and Road loans?
All of it. And China now has most of Africa.
Are those money that ia going to be invested to reduce poverty?
If it’s like his other “charity” it will be going as handouts to business and lobbying government against actual aid projects.
i love it when people can just buy themselves out of bad publicity <3
Oh I’m sure it will, Africa is renowned for wealth building and good stewardship of foreign investment. Nothing like a dictatorship, warlords, military juntas would pilfer funds from it first chance they got.