Should Warren Buffet donate money in the USA or Abroad?

Question

Warren Buffet is giving away $27 Billion USD to an under-developed part of Africa. He made all that money with companies in the USA and he is moving it out of the country to help less advantaged people. Do you agree with this?

Granted, a lot of people feel that he could give to Hurricane ravaged areas but a great deal of news recently came out about people using their donated money on things like sex toys, fur coats and liquor. I wouldn't give any more to them either.

I just think money made in the USA should stay in the USA.

Answer 1

Your thinking that money made in the USA should stay in the USA is correct to some extent being dedicated to your country. But, if money is not used for the best use it stinks and the users of extra money without any need get to all the bad habits and the money is misused to a large extent.

Money can make or mar people. It can make the have nots, while lavish spending of money can mar the human beings to be the real human beings.

So, better, some 'have nots' use it for their natural development, for their childrens' careers, for creating their sincere goodwill towards the donor and the donor country.

So, let Warren Buffet donate money wherever he wants to. It is his own property for which he had already paid taxes of the state and he has the full right to deal with it in any way he like it.

BUT, there is a reason for you to celebrate, as your wish has been fulfilled as, Buffett is not donating to any part of Africa, as you think. He has decided to donate total of $37.4 Billions to Bill & Mellinda Gates Foundation in yearly installments for funding programmes for health, poverty alleviation and technology in developing countries. I HOPE YOU WOULD LIKE TO APPROVE THIS MODE OF BUFFETT.

Answer 2

I don't doubt your sincerity but I'd just ask you to do a little research before posting messages like this.

Buffet is donating that money to the Bill and Melinda Gates foundation. The foundation does some work in the US but most of the money goes on grants to try and eradicate some major third world diseases. A large part of the money is spent in African countries.

I realise there are many many unfortunate people in the United States who would benefit from help but the scale of suffering just doesn't compare with the issues the foundation is trying to address. We're talking about 5 year old children abandoned and begging by the side of the road because their parents died from HIV. We're talking about kids unable to go to school (or even eat) because their surviving parent has no legs and is therefore unable to work. We're talking about communities were almost nobody survives into their 50's. These people are suffering due to factors they didn't cause and cannot affect - in general you don't get that level of suffering in the first world.

Now lets look at the other side of the coin. I am resident in Europe but I have a six figure sum invested in US companies (including Berkshire Hathaway). The country I live in his billions invested in the United States & employs millions of American citizens. Given the absurd budget defecit your country runs it is vital that foreigners countinue to invest in US assets.

You could decide that money made in the USA should stay in the USA but you should expect other countries to respond in the same way. And that would plunge the United States into recession.

So by all means pause for thought but please remember two things;
- It is no exageration to say that Buffet and the Gates' are trying to stop the death of millions of innocent people every year. These people endure a level of suffering that would not be tolerated in the United States.
- If your major trading partners took the view that money made in their countries should stay in their countries the US economy would be in recession and millions of citizens out of work.

Answer 3

I guess it's really his decision... but I agree that since the money was made here it wouldn't hurt for it to stay here. Seems strange to me that Buffett and Bill Gates both are so determined to help "less fortunate countries" when there's so much good the money could do here at home.

My personal perspective is that I co-founded a non-profit organization that provides information and support to families and physicians of children with a specific rare genetic disorder. We're starting a research project now with NIH where all of our kids, many of whom have never had proper medical care because so little is known about the disorder, will be seen by some of the country's top docs in every field at NIH.

However... we have families overseas who aren't able to pay transportation costs to fly over here for the project. NIH is trying to get funding for international families, but we're not sure that's going to happen. It's a good cause and could possibly save the lives of some very special children. But... where are all these guys when you need money for genetic research to save children's lives... and where are they when you are trying to feed hungry children in America (and there are a lot of children here who go to bed hungry every night... ask anyone who works for Head Start or a homeless shelter.)

I'm glad they're helping someone... but yes, I wish it was a bit closer to home. With $27 billion, I doubt that area of Africa will remain underdeveloped for long. Is that necessarily a good thing? The assumption here is that if they had money, they'd be better off. I don't know that's necessarily the case. Sometimes money is just abused, especially when it's given to folks who have never had it to spend.

I do a lot of volunteering with my local Head Start program (serving at-risk four-year-olds) and I see how some of them live. The only meals they have are the breakfast and lunch they get with us and they don't have dental care so they have a painful mouth full of bad teeth (which makes it hard to chew the food they do eat.) Where is Warren Buffett for those children? I'm just not sure why he has to go all the way to Africa to play Santa there...

Answer 4

Well it isn't any of your business. Warren Buffet is very much a US Patriot and has done plenty to bolster the American Economy, in so much as one man can.

Where he donates his money is entirely his business. Who are you to assume otherwise?

One last thing - you're a bit naive to think for a second that in this world of globalization, a world-wide financial force like W.B. earned his riches solely in the USA!

Answer 5

One race, one world, one humanity, one planet.

Answer 6

I could use a few bucks sent my way....