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  1. #1
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    People want billionaires to pitch in

    Most people want billionaires to pitch in to aid poverty and inequality

    by Ellen Wulfhorst | @EJWulfhorst | Thomson Reuters Foundation
    Wednesday, 29 April 2020 11:00 GMT

    World's billionaires could close a huge funding gap in solving global woes with philanthropy or taxes, researchers say

    Coronavirus is changing the world in unprecedented ways. Subscribe here for a daily briefing on how this global crisis is affecting cities, technology, approaches to climate change, and the lives of vulnerable people.

    By Ellen Wulfhorst

    NEW YORK, April 29 (Thomson Reuters Foundation) - Eight out of 10 people think billionaires should help end poverty, inequality and a host of global ills, a poll showed on Wednesday, as funding shortages and the new coronavirus stymied hopes of meeting the United Nations' development goals for 2030.

    The ambitious plans, known as the Sustainable Development Goals (SDGs), were agreed unanimously by U.N. member states in 2015 with a list of targets to end hunger, gender inequality, and boost access to education and healthcare by 2030.

    But researchers said there was now a shortfall of $400 billion a year to achieve those goals - with a financing gap of $350 billion in the 59 poorest countries alone - which would have global implications.

    "Philanthropy can step in and plug huge critical gaps," said Michael Sheldrick, chief policy officer at Global Citizen, an anti-poverty group, which surveyed almost 27,000 people in 25 countries together with Glocalities, a Dutch research agency.

    "The COVID-19 is an example of that," Sheldrick told the Thomson Reuters Foundation in an interview in New York.

    "You've seen this upsurge in philanthropy, and our hope is that we can channel this into funding the SDGs more broadly."

    Organisations started by billionaires, such as the Bill & Melinda Gates Foundation and Facebook, have donated millions towards testing, protective gear and other campaigns to fight the COVID-19 pandemic.

    Coronavirus: our latest stories

    Twitter's Chief Executive Officer Jack Dorsey earlier this month pledged $1 billion to a charitable fund to help relief efforts related to the coronavirus pandemic, with money later to be directed to girls' health and education.

    Chinese billionaire and Alibaba co-founder Jack Ma pledged through his foundation to donate over 1 million coronavirus testing kits as well as masks, protective suits and ventilators to Africa.

    WEALTH TAX OR PHILANTHROPY?

    The poll found 82% of people said billionaires should help and contribute to funding the global goals.

    On average there was more support for billionaires doing this through philanthropy, with 46% of respondents in favour of voluntary philanthropic donations, but 35% said they should pay a wealth tax to fund the sustainable development goals.

    The countries most in favour of billionaires contributing to fund the SDGs were Indonesia, Vietnam and Portugal, while Japan, the Netherlands and the United States came last in the list of 25 countries.

    The survey also found that people aged over 55 or aged 18 to 34 were more of the belief that billionaires should pitch in.

    People with a higher education level were more in favour of billionaires playing a role, with 85% support, compared to 74% support from those with a lower education.

    Experts have warned that the 2030 deadline to meet the U.N.'s development goals is at risk as economies suffer in the fight against the virus, public financing dries up and international cooperation wanes.

    Around the world, there are more than 2,000 billionaires worth a combined $10 trillion, said Martijn Lampert, research director of Glocalities.

    "People see that billionaires have a moral obligation to contribute," he said. "This crisis shows the huge inequalities there are, and in the end I think every billionaire has to show his or her true color."

    The $350 billion shortfall, a calculation made prior to the pandemic, breaks down to about $200 per person in the 59 poorest countries, according to Global Citizen.

    "We will need to tax high-net worth, especially after the current disaster," said Jeffrey Sachs, head of the Sustainable Development Solutions Network, a U.N. initiative, who was involved in the study.

    "Budgets everywhere are in disarray," he said in emailed comments. "Inequality plus COVID-19 are leading to a profound social crisis."

    (Reporting by Ellen Wulfhorst, Editing by Katy Migiro and Belinda Goldsmith. Please credit the Thomson Reuters Foundation, the charitable arm of Thomson Reuters, that covers the lives of people around the world who struggle to live freely or fairly. Visit http://news.trust.org)

    Our Standards: The Thomson Reuters Trust Principles.
    Billionaires urged to pitch in to aid poverty and inequality

  2. #2
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    Most people are stupid and actually think that arse GAtes actually is chipping in. Well, he's not. His money is in a tax free foundation and his net wealth never changes. 40 billion given away? no, 40 billion invested in promoting himself and is agenda, safe from the tax man.

  3. #3
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    ^
    People want billionaires to pitch in-billionaires-jpg

  4. #4
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    Quote Originally Posted by pseudolus View Post
    Most people are stupid and actually think that arse GAtes actually is chipping in. Well, he's not. His money is in a tax free foundation and his net wealth never changes. 40 billion given away? no, 40 billion invested in promoting himself and is agenda, safe from the tax man.

    Most of the work his foundation does is in Africa and nobody ever cares until his warnings from long ago about being prepared for a pandemic come true and then all the conspiracy nutjobs come crawling out of the woodwork claiming it's a Steve Jobs style self-promotion deal because they get easily confused by simple concepts.
    Dear Anti-vaxers: Enjoy your free trial.

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    They've already pitched in by selling you face masks & hand sanitizers, while asking for handouts.

  6. #6
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    Coronavirus Has Made Jeff Bezos $33 Billion Richer as Amazon Reports Quarterly Profits

    04/30/20




    While the coronavirus cripples most parts of the U.S. economy, Amazon and its mega-rich CEO, Jeff Bezos, are prospering through the pandemic as stuck-at-home consumers flocked to the internet retail giant to stock up on food and other living essentials. The company offered a first glimpse of just how much it has profited from the pandemic and quarantine when Amazon released first-quarter earnings Thursday afternoon.

    Amazon posted first-quarter revenue of $75.5 billion and net earnings of $5.01 per share. Shares fell five percent in the after trading hours, a modest dip that does little to blunt the company’s continued rise. Since the first case of coronavirus was identified in the U.S. on January 20, Amazon stock had climbed 28 percent before Thursday’s report, while the S&P 500 index had fallen 12 percent. In more palpable terms, Bezos, who owns 11 percent of Amazon, had seen his net worth increase $35 million every day for the last three months. The world’s richest man’s total fortune currently stands at $139 billion.

    Although the full scope of the coronavirus’ impact on Amazon’s retail business won’t show until the company reports second-quarter earnings in summer, Wall Street was nervously watching for key signals from the first three months of 2020 pointing to Amazon’s financial soundness during the pandemic.

    Analysts polled by Zacks Investment Research expect Amazon to post a quarterly revenue of at least $74 billion, a 23 percent increase from a year ago. Net earnings, however, were expected to fall 11 percent from last year to $6.31 per share as a result of Amazon selling fewer high-margin items and spending more on necessities for quarantine living. Amazon surpassed the first target but fell short of the second.

    The company announced that it will spend $4 billion on coronavirus-related expenses. The company already announced its intention to hire 100,000 warehouse workers, raise wages to keep existing employees around, and enforce safety measures across facilities.

    Since March, media reports have counted more than 200 Amazon employees who tested positive for COVID-19. The company has yet to release the exact number of infections. Angered Amazon warehouse workers have engaged in wildcat strikes to protest unsafe working conditions.

    In March, the first month of COVID-19’s eruption in the U.S., retail and food service sales shrank 6.7 percent from a year ago, according to estimates from the U.S. Census Bureau. While overall spending levels fell sharply in the month, more than half of consumers said they increased online shopping activities, per a consumer survey by Blue Yonder.

    Amazon Q1 Earnings: Jeff Bezos’ Worth Grows $33 Billion Since Coronavirus | Observer

  7. #7
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    (They already pitching in - the whole $2 - "unprecedented" - how generous... )

    Amazon is hiring 100,000 warehouse workers and raising pay as the coronavirus causes an 'unprecedented' increase in demand for this time of year

    Amazon said in a blog post on Monday that it would hire 100,000 US warehouse and delivery workers and raise their pay by $2 per hour through April. The Wall Street Journal was the first to report it.

    Amazon said it was investing about $350 million to increase the pay. The new jobs include both full-time and part-time positions, Amazon said, and would bring its total employee count to nearly 900,000 worldwide.

    "We are seeing a significant increase in demand, which means our labor needs are unprecedented for this time of year," the blog post said.

    The moves are designed to help its warehouse and delivery workers as they deal with increased workloads during the coronavirus outbreak, which is causing more people to shop online.

    Amazon said in a blog post over the weekend that as the coronavirus spreads across the world, it's seeing a sharp increase in online shoppers. That has caused some of its most popular brands and household staples to run out of stock, as well as delays to its normal delivery cycle.

    "We are working around the clock with our selling partners to ensure availability on all of our products, and bring on additional capacity to deliver all of your orders," Amazon said in a blog post.

    Meanwhile, Amazon experienced a technical glitch on Sunday for its Whole Foods and AmazonFresh services as it dealt with a spike in online grocery orders, according to Bloomberg.

    Other preventive measures by Amazon in response to the coronavirus outbreak include the launch of a $25 million fund to support partners and unlimited unpaid time off for warehouse workers.

    Amazon is hiring 100,000 warehouse workers and raising pay as the coronavirus causes an 'unprecedented' increase in demand for this time of year, Business Insider - Business Insider Singapore

  8. #8
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    Quote Originally Posted by Plan B View Post
    Most of the work his foundation does is in Africa and nobody ever cares until his warnings from long ago about being prepared for a pandemic come true and then all the conspiracy nutjobs come crawling out of the woodwork claiming it's a Steve Jobs style self-promotion deal because they get easily confused by simple concepts.

    when you write those types of jokes you need to put an LOL on the end so people know you are not serious.


    ...oh shit, you are?

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    Quote Originally Posted by pseudolus View Post
    Most people are stupid and actually think that arse GAtes actually is chipping in. Well, he's not. His money is in a tax free foundation and his net wealth never changes. 40 billion given away? no, 40 billion invested in promoting himself and is agenda, safe from the tax man.
    Most are fooled and ignorant about most everything -

    DNA ingrained.

  10. #10
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    (Won't we help to Ford?)

    ‘There is no future,’ muses Ford CEO Jim Hackett after pocketing $52mn

    Ford’s Q1 sales plummeted to a paltry 1.1 million cars. While that’s still more than the total ever sold by Tesla, Elon Musk is recording magic profits, while the multinational automaker has bombed, recording a $2 billion loss.

    Ford CEO Jim Hackett is grossly overpaid, relative to his performance. His total compensation for 2018 was $17.8 million. Compare that to Ford’s median employee pay of $64,316.

    On January 2, 2018, Ford’s share price was around $13.20 per share. On December 31, 2018, its stock price closed out at about $8.08 per share. If you were an investor in Ford’s shares, you would have lost 39 percent. Jim, however, made that cool $17.8 million – a nearly 7 percent increase in pay from 2016.

    So, did those shares improve from Jan 2019 to April 30, 2020? If you stayed the course with Ford under Hackett, you would have lost another 42 percent, but his pay was cut by only 2.2 percent to $17.4 million. Poor Jim.

    On Ford’s first-quarter-earnings conference call, Hackett got philosophical, proclaiming, “There is no future,” while trying to explain Ford’s whopping $2 billion loss and perhaps an even bigger $5 billion dollar loss to come for FY 2020. Jim’s comment may well become as famous as Nietzsche’s “God is dead.”

    Of course, Nietzsche didn’t pocket $52 million in compensation for 2017–2019 to ease his angst. Neither did Ford’s shareholders or employees, who are lined up for a 2020 culling.

    How could anyone possibly criticize the chief executive of Ford for a $2 billion loss in Q1? Hackett didn’t follow his 2014 predecessors, Alan Mulally and Mark Fields, by doing substantial stock buybacks that ultimately weakened Ford’s balance sheet. Instead, during Ford’s Q1 earnings report, he provided analysts with a historic philosophical lesson, a kumbaya moment, of “two truths.”

    As he explained, the “first truth” revolved around safety: “The communities you live in and, amazingly, all the other humans you interact with – their safety guarantees your safety.”

    His “second truth” was “There is no future if we don’t have an economic system that is always on. We didn’t realise there was an off switch. We knew it might go into a recession – more like a dimmer switch – but off…! Now, as we bring these two truths together, they compete. Turning the economy back on challenges the question of whether it is safe enough.” He continued: “[We’re] managing this paradox and confirming we have control of the business in a very difficult time.” OMG. Too funny.

    So, what is the paradox, Jim? How, under your leadership, Ford tanked and may go bust, but you get to laugh all the way to the bank with over $50 million in your pocket – a paradox that could result in more than 200,000 lost jobs? That's a grim third truth, Jim.

    According to Ford's quarterly earnings report of March 31, 2020, Ford debt, excluding Ford credit, was $30.5 billion, including automotive debt of $30 billion. These balances were $15.2 billion and $15.3 billion higher, respectively, than on December 31, 2019, primarily reflecting the draws on its credit facilities. An additional $8 billion in unsecured debt issuance in April 2020 is not included in these amounts, making the debt $38.5 billion.

    This year, the stock has plummeted another 42 percent, and Ford’s credit status has been downgraded to junk by the nationally recognized statistical rating organizations.

    Hackett needs to channel ancient Chinese philosopher Sun Tzu to whip up an electric-vehicle program at Ford that can garner tax subsidies and green credits while generating carbon-emissions credits – just like Elon Musk does. The market cap of Tesla, Inc. is around $145 billion, while Ford’s is a meager $21 billion.

    In California, the carbon-emissions-credit markets are booming. Hackett might even be able to steal some of Musk’s green thunder and have hundreds of millions of dollars shower down upon him and Ford for being green and mean, like St. Elon of Fremont.

    Maybe there is no future, but heck – he’s $52 million ahead of the game.
    ‘There is no future,’ muses Ford CEO Jim Hackett after pocketing $52mn — RT Op-ed

  11. #11
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    Quote Originally Posted by pseudolus View Post
    when you write those types of jokes you need to put an LOL on the end so people know you are not serious.


    ...oh shit, you are?

    Somewhere out there, there's a tree whose single purpose on earth is to replace the oxygen you waste.
    Go find it and apologise.

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  13. #13
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    ^

    Through an investigation of more than 19,000 charitable grants the Gates Foundation has made over the last two decades, The Nation has uncovered close to $2 billion in tax-deductible charitable donations to private companies—including some of the largest businesses in the world, such as GlaxoSmithKline, Unilever, IBM, and NBC Universal Media—which are tasked with developing new drugs, improving sanitation in the developing world, developing financial products for Muslim consumers, and spreading the good news about this work.
    OMFG!!!
    What kinda animal would try to do such terrible things.


    Getting corporations to actually do good works?
    Should be a law against it!

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    You really are a simpleton. Gates has his foundation and he also has his "Trust" where he invests the "foundations" money. The foundation donates to companies and initiatives that the Trust is invested heavily in already thus increasing his net worth.

    FFS how old are you? Do you not remember pre 2000 when his name was dirt for the money grabbing lying corrupt piece of shit he still is today but before his foundation PR firm went to work on your memory and perception of him?



    Lock down so you have some time to kill. Here's 11 hours of Gates lying through his arse as a refresher.

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    You tell 'em, Sid.
    EAT THE RICH.


    Unfortunately, the old adage and trickery of repeating something loud and often enough ​applies in this examination.

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    Quote Originally Posted by HuangLao View Post
    You tell 'em, Sid.
    EAT THE RICH.


    Unfortunately, the old adage and trickery of repeating something loud and often enough ​applies in this examination.
    INdeed. The myth still goes around that JD Rockefeller gave away $35,000 in dimes. "He gave a dime to everyone he met". No, in a PR stunt to transform in the eyes of the plebs from super villain (which he was) to lovely benevolent old man, his PR agent set up a stunt when he gave away dime on camera, and then in a few pictures. Dime to everyone he met? Was his knickname Mister Jingles?

    People are so dumb.

  17. #17
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    Under current circumstances, a scenario not really much utopian can be thought over:

    A group of people is isolated somewhere for their lifetime, among them a Mr. Superrich. Or imagine stranded on an island something like the Pitcairn story was. And the Mr. Superrich has got all his coffers with him, full of money and gold.

    Everybody will need to work hard Robinson-like to keep himself alive. Also Mr. Superrich, since nobody wants to serve him for his money, it's very clear that the gold will not be possible to ever use, they will stay forever on that isolation...

    So, in that utopian case the money and the gold lose their value, cannot be eaten, cannot help anything...

    Start of the humanity from zero...

  18. #18
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    Quote Originally Posted by pseudolus View Post
    You really are a simpleton. Gates has his foundation and he also has his "Trust" where he invests the "foundations" money. The foundation donates to companies and initiatives that the Trust is invested heavily in already thus increasing his net worth.

    Sounds like he's doing it the smart way. Compare it to the traditional charity approach of acting as a middleman to give a man a fish every day. Charity's that have existed for decades and still not solved a single problem.

    You won't know this because you're a technology-fearing retard, but the Gates Foundation is not going down that route. They are doing some massive good using technology to enable people you've never heard of, or care about, to improve their own lives rather than take handouts. It doesn't fit your traditional, useless model of charity, you might have to upskill to understand it. I wish you luck in that endeavour.

    Have you found that tree yet?

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    Go ahead.....drink up.
    It's just Kool-Aid.

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    FOJeff

  21. #21
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    Quote Originally Posted by Plan B View Post
    You won't know this because you're a technology-fearing retard, but the Gates Foundation is not going down that route. They are doing some massive good using technology to enable people you've never heard of, or care about, to improve their own lives rather than take handouts.
    What's your iron in the fire interest in white knighting for $t. Billy of the Gate$ and his foundation?

  22. #22
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    Quote Originally Posted by Plan B View Post
    Sounds like he's doing it the smart way. Compare it to the traditional charity approach of acting as a middleman to give a man a fish every day. Charity's that have existed for decades and still not solved a single problem.

    You won't know this because you're a technology-fearing retard, but the Gates Foundation is not going down that route. They are doing some massive good using technology to enable people you've never heard of, or care about, to improve their own lives rather than take handouts. It doesn't fit your traditional, useless model of charity, you might have to upskill to understand it. I wish you luck in that endeavour.

    Have you found that tree yet?
    Dear me the PR worked well on you. ID2020 - got your chip yet? Daft little CNN BCC addicted twerps thinking they are the bees knees sucking the cock of people like Bill Gates. Certainy charities are only about making money for themselves; Gates is indeed different because his level s smoke and mirrors means he's tricked daft block heads like you into believing he is helping poor little black people when in reality he uses children as lab rats in his quest to be the worlds first trillionaire. Its greed and power driven by never forgetting being bullied at school that drives him. Also, he never created Fuck All - windows was gifted to him from a packard bell project, they were developing it, but didn't want to release it themselves so through is old man, billy was given it as a pet project. He then stole everything else he ever pretended to create. But sorry, yes, all praise billy boy the crook - hes a saint hahaha

    you idiot

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  24. #24
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    BILLIONAIRE BONANZA 2020: WEALTH WINDFALLS, TUMBLING TAXES, AND PANDEMIC PROFITEERSBetween January 1, 2020 and April 10, 2020, 34 of the nation’s wealthiest 170 billionaires saw their wealth increase by tens of millions of dollars. Eight have seen their net worth surge by over $1 billion.

    As of April 15, Jeff Bezos’s fortune had increased by an estimated $25 billion since January 1, 2020. This unprecedented wealth surge is larger than the Gross Domestic Product of Honduras, $23.9 billion in 2018.

    Between March 18 and April 10, 2020, over 22 million people lost their jobs as the unemployment rate surged toward 15 percent. Over the same three weeks, U.S. billionaire wealth increased by $282 billion, an almost 10 percent gain.

    Billionaire wealth rebounded quickly after the 2008 financial crisis. Between 2010 and 2020, U.S. billionaire wealth increased 80.6 percent, more than five times the median wealth increase for U.S. households.

    Between 1990 and 2020, U.S. billionaire wealth soared 1,130 percent — an increase more than 200 times greater than the 5.37 percent growth of U.S. median wealth.

    Measured as a percentage of their wealth, the tax obligations of America’s billionaires decreased 79 percent between 1980 and 2018.


    THE BILLIONAIRES AND THE REST OF US

    Three U.S. billionaires — Jeff Bezos, Bill Gates, and Warren Buffett — continue to own as much wealth as the bottom half of all U.S. households combined. The 400 richest Americans on the Forbes 400 list own as much wealth as America’s bottom 64 percent, nearly two-thirds of the nation’s households, combined.

    The wealth of America’s billionaires increased 10.6 percent between the Forbes global billionaires lists released in 2017, when Trump was inaugurated, and 2020. That number may be rising even more sharply now.

    On April 10, 2020, Forbes’ daily tally showed both an increase in the number of billionaires and a surge in billionaire net worth. Billionaire wealth increased by 9.5 percent in just 23 days during the COVID-19 crisis.

    Meanwhile, an estimated 78 percent of households are living paycheck to paycheck, while 20 percent have zero or negative net worth. With unemployment surging under the pandemic, this lack of reserves has once again returned to center stage.


    BILLIONAIRE TAXES ARE DOWN 79 PERCENT

    Between 1980 and 2018, the taxes paid by America’s billionaires, measured as a percentage of their wealth, decreased 79 percent.

    By allowing their tax burden to plummet, policymakers have let the nation’s wealth concentrate obscenely at America’s economic summit. Between 2006 and 2018, nearly 7 percent of America’s real increase in wealth went to just 400 billionaires.

    As we emerge from the pandemic with trillions in additional national debt, substantial tax increases will be inevitable. Our super-rich must bear their fair share of these increases.

    Report: Billionaire Bonanza 2020 - Institute for Policy Studies

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    Quote Originally Posted by SKkin View Post
    Added: his vested association with the evil and omnipresent Petro-Bio-Agricultural industries.
    Extending all this goodness to the well being of the people and the commons -

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