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Why Warren Buffett Is Poorer Than Mark Zuckerberg (inc.com)
Facebook's soaring stock price isn't the only reason 34-year-old Mark Zuckerberg is now richer than 87-year-old Warren Buffett. An anonymous reader quotes Inc:
There's another, more important reason that Zuckerberg is now worth more: Buffett has been doing a great job of giving his money away, something that he, Zuckerberg, Gates, and most of the world's most well-known billionaires have pledged to do.
Buffett has given Berkshire Hathaway stock now worth more than $50 billion to the Bill & Melinda Gates Foundation alone. When it comes to giving, Zuckerberg and his wife Priscilla Chan have a lot of catching up to do. They appear to have devoted well under $10 billion so far to philanthropy... On the other hand, Zuckerberg, is more than 50 years younger than Buffett, so they likely have a lot more time in which to do their giving.
Three years ago the couple pledged to give away 99% of their net worth within their lifetimes.
Buffett has given Berkshire Hathaway stock now worth more than $50 billion to the Bill & Melinda Gates Foundation alone. When it comes to giving, Zuckerberg and his wife Priscilla Chan have a lot of catching up to do. They appear to have devoted well under $10 billion so far to philanthropy... On the other hand, Zuckerberg, is more than 50 years younger than Buffett, so they likely have a lot more time in which to do their giving.
Three years ago the couple pledged to give away 99% of their net worth within their lifetimes.
The ends justify the means. Find the 30 richest people and take 99% of their money and redistribute it to everyone equally. Problems solved.
Zuckerberg would be left with only $810,000,000! I mean come on! Think of how little he has contributed to society, after all. The World needed another advertising platform! Another place for people to waste their lives away! And he helped get Trump elected!
And realize that the Forbes 400 is made up with quite a few billionaires. I think you need to expand your scope.
Eisenhower era income tax rates (inflation adjusted of course) and a 1% tax on capital over say 2 million dollars.