Why doesn't Warren Buffet use his wealth to alleviate debt?

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Why doesn't Warren Buffet use his wealth to alleviate debt?

Postby Fixed Cross » Tue Jun 05, 2018 10:53 am

Some one wrote to day that Warren Buffet is a philanthropist because he is planning to give his wealth to the Bill and Melinda Gates foundation. Who in their miserable wretched ignorance have caused far more damage than good with their bloated interventions in human systems.

In his own country, and by his own devices, Buffet could have a massive impact and make himself an unforgettably great philanthropist, by instead of indiscriminately, spastically trying to clear his conscience by giving it to his even richer friend (how clueless can a billionaire be), offering the majority of his wealth to pay off student loans, and free a entire generation from shackles.

Slim chance, as Buffet is the buy and strip variety of "investor" and has no instincts for building futures. But just in case he has a moment of clarity.
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Re: Why doesn't Warren Buffet use his wealth to alleviate de

Postby Rabbi Shekelstein » Thu Jun 07, 2018 2:55 pm

No goyim, that would interfere with the privatization of the free market.

It is more capitalist to let countries collapse under their own weight through financial bankruptcy and deal with the fallout politically of a world war. It's natural evolution that all the useless eaters starve out and become replaced with machines where any survivors of all that are forced into indentured slavery. This is the glory and genius of the free market at work, the invisible hand.
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Re: Why doesn't Warren Buffet use his wealth to alleviate de

Postby Fixed Cross » Tue Jun 19, 2018 11:15 pm

Heinrich wrote:No goyim, that would interfere with the privatization of the free market.

It is more capitalist to let countries collapse under their own weight through financial bankruptcy and deal with the fallout politically of a world war. It's natural evolution that all the useless eaters starve out and become replaced with machines where any survivors of all that are forced into indentured slavery. This is the glory and genius of the free market at work, the invisible hand.

At least now your lack of political insight is funny.
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Re: Why doesn't Warren Buffet use his wealth to alleviate de

Postby Mr Reasonable » Wed Jun 20, 2018 8:24 am

If you give poor people money, they just give it right back. It's nature. Some people can save and take care of themselves and manage finances, some can't. Take all the money from the 1 percent, distribute it evenly, and in a couple years all of it would be handed right back to them and the poor would be poor again.




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Re: Why doesn't Warren Buffet use his wealth to alleviate de

Postby Karpel Tunnel » Wed Jun 20, 2018 10:56 am

Mr Reasonable wrote:If you give poor people money, they just give it right back. It's nature. Some people can save and take care of themselves and manage finances, some can't. Take all the money from the 1 percent, distribute it evenly, and in a couple years all of it would be handed right back to them and the poor would be poor again.

He did not suggest giving it to poor people. He suggested paying off student loans. What happens then? we have people with educations who have better negotiation positions with employers, can possibly get more education or skills training. People who are less stressed and are in a position to contribute to society much better than if they must take any job, can't afford decent housing, decent health care, etc. These are people who while in school worked hard enough to get into colleges. IOW so far they are likely contributers. And probably those with the largest debt would be middle class. IOW they got into good schools, which correlates with class, but mom and dad couldn't pay all the bills like the rich parents could.

I would start with paying off the debt of city and state school graduates. That population has skills and has worked well so far, but is in a weaker position to set up because less of their parents are middle class.

We don't make people pay for up to 18 schooling.

I see no reason to necessarily cut them off there.
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Re: Why doesn't Warren Buffet use his wealth to alleviate de

Postby Fixed Cross » Wed Jun 20, 2018 12:59 pm

Mr R - do you honestly think that people that take on student loans to pay for education must prove inept at some basic self-ownership? Poverty is not the issue I raised. Debt is actually very different from poverty. Poor people can't get into debt like middle class people can. And precisely because of this being a middle class issue it is an issue that affects the heart of the economy, and thus you.

Karpel Tunnel wrote:
Mr Reasonable wrote:If you give poor people money, they just give it right back. It's nature. Some people can save and take care of themselves and manage finances, some can't. Take all the money from the 1 percent, distribute it evenly, and in a couple years all of it would be handed right back to them and the poor would be poor again.

He did not suggest giving it to poor people. He suggested paying off student loans. What happens then? we have people with educations who have better negotiation positions with employers, can possibly get more education or skills training. People who are less stressed and are in a position to contribute to society much better than if they must take any job, can't afford decent housing, decent health care, etc.

Yes, exactly.

These are people who while in school worked hard enough to get into colleges. IOW so far they are likely contributers. And probably those with the largest debt would be middle class. IOW they got into good schools, which correlates with class, but mom and dad couldn't pay all the bills like the rich parents could.

I would start with paying off the debt of city and state school graduates. That population has skills and has worked well so far, but is in a weaker position to set up because less of their parents are middle class.

We don't make people pay for up to 18 schooling.

I see no reason to necessarily cut them off there.

I think the best approach may be a meritocratic one, where good performance, both in school and in subsequent jobs, warrants the most debt reduction. Do this across the board, you'll likely end up benefiting a lot of the right people.
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