Aug 09 2010
TRM Reading August 8, 2010
My latest blog on The Huffington Post is titled, “How Much is Enough? Sharing Personal Wealth When Times are Tough.” In it, I explore the question of how much, if anything, of one’s personal assets should be given to the needy in a society where there is no state or religious law obligating one to give over and above giving through paying taxes.
At the end of the post, I ask the question, “Would a movement of wealthy people publicly using their money to assist those in need create a wave of generosity that lifts this country up in miraculous ways?”
Last week, a couple of friends alerted me that Bill and Melinda Gates and Warren Buffett started a program to encourage other wealthy people to give. So far, more than three-dozen billionaires have promised to donate at least half of their fortunes to charity.
Larry Ellison, founder of Oracle, the giant database company, wrote regarding why he signed up, “Until now, I have done this giving quietly — because I have long believed that charitable giving is a personal and private matter. So why am I going public now? Warren Buffett personally asked me to write this letter because he said I would be ‘setting an example’ and ‘influencing others’ to give. I hope he’s right.”
My sense is Larry Ellison will not be disappointed. When people set an example, it does inspire others to go beyond perceived or real limitations.
May outpourings of tremendous generosity continue. May we built our society in a way that raises everyone up. May it be a society where more and more of the wealthy understand they have a special obligation to give back, and do so with open and compassionate hearts.