It's been nearly two years since this space was first devoted to "The Billionaires Club". Since that blog in June of 2010, five more columns have followed this ongoing feel good story. And today there is more to report.
According to Fortune Magazine, The Billionaires Club has recently added 12 more of our wealthiest citizens--bringing total membership to 81.
That announcement is especially newsworthy at this time because of the continuing debate over raising taxes on the super rich. Senate Republicans blocked a Democratic-sponsored move last Monday that would have led to a minimum tax rate of 30 percent on income over a million dollars.
The Billionaires Club members are nearly unanimous in support of higher taxes on the ultra wealthy--including themselves. They decry GOP claims that higher taxes on millionaires and billionaires would discourage hiring and cause a widespread loss of jobs.
But why would the wealthiest among us want to pay higher taxes?
Two reasons. They are patriotic Americans, and they are truly "good guys".
For those unfamiliar with The Billionaires Club, we offer the hard-to-believe fact that it is comprised of men and women who have pledged to give away to charity at least 50 percent of their wealth during their lifetime, or at their death.
The original idea came from three of the world's wealthiest people--Warren Buffett and Bill and Melinda Gates. Their quantified goal at the outset was to raise $600. billion, and that no longer seems like an impossible dream.
Friday, April 20, 2012
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The importance of individual commitment to charitable giving cannot be overemphasized in a society that is becoming increasingly more dependent on government for all its needs. Faced with colossal deficits and a high debt burden, the government must begin to shed welfare programs with the confidence that private charity such as that provided by the The Billionaires Club can more efficiently fill the void.
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