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Thread started 08/05/10 4:12pm

markpeg

Is Oprah Winfrey giving away half her wealth?

Is Oprah Winfrey among one of the 40 billionaires of the world who have decided to give away half their wealth to charity? I know Warren Buffet, Bill Gates and George Lucas are going to do it, but is Oprah Winfrey?

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Reply #1 posted 08/05/10 5:03pm

JellyBean

I heard about this last night on some radio station, NPR, I think. Anyway, Oprah is not on the list, yet. Here is the list so far.

http://givingpledge.org/#enter

“When I give food to the poor, they call me a saint. When I ask why the poor have no food, they call me a Communist.” Brazilian bishop Dom Hélder Câmara
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Reply #2 posted 08/05/10 5:37pm

ernestsewell

Until she says Yes, then the answer is No.

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Reply #3 posted 08/05/10 6:35pm

buist

Can I get some of that money?

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Reply #4 posted 08/05/10 6:59pm

RPR

pfttt. most of us give away half our wealth on rent month each month, big deal.

razz

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Reply #5 posted 08/06/10 7:46am

JellyBean

RPR said:

pfttt. most of us give away half our wealth on rent month each month, big deal.

razz

I know. But man, I would love to be a billionaire. biggrin

“When I give food to the poor, they call me a saint. When I ask why the poor have no food, they call me a Communist.” Brazilian bishop Dom Hélder Câmara
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Reply #6 posted 08/06/10 12:14pm

markpeg

I thought the fourth one down read "Eli and Edy The Broad" for a second there!lol

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Reply #7 posted 08/06/10 1:27pm

buist

I'll take just 1/20 of her money.

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Reply #8 posted 08/06/10 1:55pm

BramblingMan

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I've been seeing and hearing a lot about this lately. Seems rather silly to me. I'm not an advocate of just giving away money, I believe money is something that should be earned from productivity. That said, this is all theoretical as it is just a "pledge" and can be donated after their death.

Keep your money, Oprah. You've earned it and you owe it to nobody.

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Reply #9 posted 08/06/10 10:35pm

Cinnie

RPR said:

pfttt. most of us give away half our wealth on rent month each month, big deal.

razz

For real

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Reply #10 posted 08/06/10 10:54pm

RPR

BramblingMan said:

I've been seeing and hearing a lot about this lately. Seems rather silly to me. I'm not an advocate of just giving away money, I believe money is something that should be earned from productivity. That said, this is all theoretical as it is just a "pledge" and can be donated after their death.

Keep your money, Oprah. You've earned it and you owe it to nobody.

I think it's a just a beautiful thought, these people know they have been blessed beyond imagination. There comes a time when you realize that you cannot take it with you and start thinking about the bigger picture and the purpose of our very being.....well i least that's what i think it boils down to.

Sometime some of us might get worked up about the silliest things until we realize how foolish it is. I think its that feeling but on a much larger scale.

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Reply #11 posted 08/07/10 9:51am

RebirthOfCool

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BramblingMan said:

I've been seeing and hearing a lot about this lately. Seems rather silly to me. I'm not an advocate of just giving away money, I believe money is something that should be earned from productivity. That said, this is all theoretical as it is just a "pledge" and can be donated after their death.

Keep your money, Oprah. You've earned it and you owe it to nobody.

So you're against charities? eek

You can call me "ROC" for short wink
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Reply #12 posted 08/07/10 8:07pm

Horsefeathers

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BramblingMan said:

I believe money is something that should be earned from productivity.

[...]


Keep your money, Oprah. You've earned it and you owe it to nobody.



I don't disagree with this. However, if one supports people having money through their productivity, it seems one would also support those same people spending their money however they want whether it's financing a lavish lifestyle or charity or both.
Murica: at least it's not Sudan.
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Reply #13 posted 08/08/10 11:26am

markpeg

I think Oprah Winfrey uses her money foolishly. A new car for everyone in her audience who probably drove to the taping in a fairly nice ride, for instance. I don't see her walking into Harlem to give away free cars to people who could really use them.

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Reply #14 posted 08/09/10 7:11pm

TonyVanDam

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markpeg said:

I think Oprah Winfrey uses her money foolishly. A new car for everyone in her audience who probably drove to the taping in a fairly nice ride, for instance. I don't see her walking into Harlem to give away free cars to people who could really use them.

Oprah's audience members still had to pay their own taxes BEFORE they could keep those cars.

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Reply #15 posted 08/09/10 7:31pm

HatrinaHaterwi
tz

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I'm changing my name to Charity! nod

I knew from the start that I loved you with all my heart.
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Reply #16 posted 08/10/10 1:35pm

funkpill

HatrinaHaterwitz said:

I'm changing my name to Charity! nod

lol

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Reply #17 posted 08/10/10 4:19pm

RPR

markpeg said:

I think Oprah Winfrey uses her money foolishly. A new car for everyone in her audience who probably drove to the taping in a fairly nice ride, for instance. I don't see her walking into Harlem to give away free cars to people who could really use them.

I disagree. If it makes her happy to help people or make others happy, then there is no more worthy, wise or honorable cause.

If living in a mansion with an eagle eye on your diversified investments makes others happy, that's cool too.

[Edited 8/10/10 16:20pm]

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Reply #18 posted 08/10/10 5:00pm

BramblingMan

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RebirthOfCool said:

BramblingMan said:

I've been seeing and hearing a lot about this lately. Seems rather silly to me. I'm not an advocate of just giving away money, I believe money is something that should be earned from productivity. That said, this is all theoretical as it is just a "pledge" and can be donated after their death.

Keep your money, Oprah. You've earned it and you owe it to nobody.

So you're against charities? eek

I'm not against charities. I'm against the notion that at a certain point, once you've made X amount of money, a large part of the public feels you must be philanthropic.

If Oprah wants to give money away, it's her money and she's free to do so - especially if it makes her happy to do it. However, many of those who would applaud her for giving her money away would be the same people criticizing her for not giving it away. Even the tone of the original post suggests she has some duty to involve herself in this pledge since other billionaires have done so.

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Reply #19 posted 08/10/10 5:02pm

BramblingMan

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Horsefeathers said:

BramblingMan said:
I believe money is something that should be earned from productivity. [...]

Keep your money, Oprah. You've earned it and you owe it to nobody.

I don't disagree with this. However, if one supports people having money through their productivity, it seems one would also support those same people spending their money however they want whether it's financing a lavish lifestyle or charity or both.

I agree 100%. My problem is not at all with the giving but rather the entitlement mentality projected upon the wealthiest in society (i.e., they have therefore they should give).

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Reply #20 posted 08/10/10 5:09pm

RebirthOfCool

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BramblingMan said:

RebirthOfCool said:

So you're against charities? eek

I'm not against charities. I'm against the notion that at a certain point, once you've made X amount of money, a large part of the public feels you must be philanthropic.

If Oprah wants to give money away, it's her money and she's free to do so - especially if it makes her happy to do it. However, many of those who would applaud her for giving her money away would be the same people criticizing her for not giving it away. Even the tone of the original post suggests she has some duty to involve herself in this pledge since other billionaires have done so.

Oh ok, because that original comment I bolded that you said doesn't match up with what angle you're taking now though.

You can call me "ROC" for short wink
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Reply #21 posted 08/10/10 7:23pm

lezama

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BramblingMan said:

I've been seeing and hearing a lot about this lately. Seems rather silly to me. I'm not an advocate of just giving away money, I believe money is something that should be earned from productivity. That said, this is all theoretical as it is just a "pledge" and can be donated after their death.

Keep your money, Oprah. You've earned it and you owe it to nobody.

Most money isn't made from "productivity"... its made from the ownership of capital. Oprah's done both, and insofar as she makes a killing off the labor of others (ownership of capital) I think it's fair to expect her to give back... but you know, whether she chooses to give back so much is ultimately her perogative.

But in most likelihood she will... its not like she can take it to the grave with her, and she can't leave it to her dogs and she doesnt have kids... so she'll likely spread it around generously when she retires.

Change it one more time..
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Reply #22 posted 08/10/10 9:00pm

BramblingMan

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RebirthOfCool said:

BramblingMan said:

I'm not against charities. I'm against the notion that at a certain point, once you've made X amount of money, a large part of the public feels you must be philanthropic.

If Oprah wants to give money away, it's her money and she's free to do so - especially if it makes her happy to do it. However, many of those who would applaud her for giving her money away would be the same people criticizing her for not giving it away. Even the tone of the original post suggests she has some duty to involve herself in this pledge since other billionaires have done so.

Oh ok, because that original comment I bolded that you said doesn't match up with what angle you're taking now though.

Actually, the original comment which you typed in bold does match up with the "angle" I'm taking now. I said i believe money is something that one earns through productivity. I did not say I was against charity, I said I was for productivity.

Let me explain: will i give a pan handler any money? No, I won't. Anyone can stand outside and beg; it's not productive and, in fact, it's annoying and bothersome. However, i wouldn't be against giving a school money to further their math and science department as that is a productive charity.

I also wouldnt cast poor judgment on someone who chose not to be as generous with their money. Its theirs, earned with their effort and work for their own happiness. Nothing wrong with keeping it if they choose to.

Hope that clears it up for you.

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Reply #23 posted 08/10/10 9:07pm

BramblingMan

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lezama said:

BramblingMan said:

I've been seeing and hearing a lot about this lately. Seems rather silly to me. I'm not an advocate of just giving away money, I believe money is something that should be earned from productivity. That said, this is all theoretical as it is just a "pledge" and can be donated after their death.

Keep your money, Oprah. You've earned it and you owe it to nobody.

Most money isn't made from "productivity"... its made from the ownership of capital. Oprah's done both, and insofar as she makes a killing off the labor of others (ownership of capital) I think it's fair to expect her to give back... but you know, whether she chooses to give back so much is ultimately her perogative.

But in most likelihood she will... its not like she can take it to the grave with her, and she can't leave it to her dogs and she doesnt have kids... so she'll likely spread it around generously when she retires.

So you don't think using your capital wisely is also part of being productive?

First of all, most people don't start with their own financial capital - Oprah surely didn't. Most people borrow capital (from some entity that has been productive before them) and use that to get started. If they're productive and successful, they then acquire their own capital with which to further themselves and, thus, become more productive.

The person from whom they borrowed the capital charges a fee and that party makes money off of the money they lent (which was ultimately their money therefore they make money off their own money). This is still productive because your capital is producing more for the public - more products, more workers, more money.

So, yes, money is made from "productivity."

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Reply #24 posted 08/10/10 9:11pm

RPR

BramblingMan said:

RebirthOfCool said:

Oh ok, because that original comment I bolded that you said doesn't match up with what angle you're taking now though.

Actually, the original comment which you typed in bold does match up with the "angle" I'm taking now. I said i believe money is something that one earns through productivity. I did not say I was against charity, I said I was for productivity.

Let me explain: will i give a pan handler any money? No, I won't. Anyone can stand outside and beg; it's not productive and, in fact, it's annoying and bothersome. However, i wouldn't be against giving a school money to further their math and science department as that is a productive charity.

I also wouldnt cast poor judgment on someone who chose not to be as generous with their money. Its theirs, earned with their effort and work for their own happiness. Nothing wrong with keeping it if they choose to.

Hope that clears it up for you.

Pan handlers are usually mentally disabled, whether through genetic disorders or through alcohol or drug abuse.

I personally see no problem is helping them out if i can. Living in the streets is not a scam, it seems like a horrible way to live. If it's a scam the joke is on them.

People who give, give have a big heart, and usually have more to give.

Helping others is very productive. A cold heart, not so much.

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Reply #25 posted 08/10/10 9:15pm

BramblingMan

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RPR said:

BramblingMan said:

Actually, the original comment which you typed in bold does match up with the "angle" I'm taking now. I said i believe money is something that one earns through productivity. I did not say I was against charity, I said I was for productivity.

Let me explain: will i give a pan handler any money? No, I won't. Anyone can stand outside and beg; it's not productive and, in fact, it's annoying and bothersome. However, i wouldn't be against giving a school money to further their math and science department as that is a productive charity.

I also wouldnt cast poor judgment on someone who chose not to be as generous with their money. Its theirs, earned with their effort and work for their own happiness. Nothing wrong with keeping it if they choose to.

Hope that clears it up for you.

Pan handlers are usually mentally disabled, whether through genetic disorders or through alcohol or drug abuse.

I personally see no problem is helping them out if i can. Living in the streets is not a scam, it seems like a horrible way to live. If it's a scam the joke is on them.

People who give, give have a big heart, and usually have more to give.

Helping others is very productive. A cold heart, not so much.

And if you choose to help them, that is your choice and there's nothing wrong with that. Your income is earned and you should spend it as you wish. There's also nothing wrong with choosing not to spend your money that way.

Some say its cold, others would say logical. Different strokes and all.

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Reply #26 posted 08/10/10 9:48pm

SUPRMAN

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markpeg said:

Is Oprah Winfrey among one of the 40 billionaires of the world who have decided to give away half their wealth to charity? I know Warren Buffet, Bill Gates and George Lucas are going to do it, but is Oprah Winfrey?

Can't imagine why I'd care . . . .

I don't want you to think like me. I just want you to think.
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Reply #27 posted 08/10/10 9:52pm

SUPRMAN

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RPR said:

BramblingMan said:

Actually, the original comment which you typed in bold does match up with the "angle" I'm taking now. I said i believe money is something that one earns through productivity. I did not say I was against charity, I said I was for productivity.

Let me explain: will i give a pan handler any money? No, I won't. Anyone can stand outside and beg; it's not productive and, in fact, it's annoying and bothersome. However, i wouldn't be against giving a school money to further their math and science department as that is a productive charity.

I also wouldnt cast poor judgment on someone who chose not to be as generous with their money. Its theirs, earned with their effort and work for their own happiness. Nothing wrong with keeping it if they choose to.

Hope that clears it up for you.

Pan handlers are usually mentally disabled, whether through genetic disorders or through alcohol or drug abuse.

I personally see no problem is helping them out if i can. Living in the streets is not a scam, it seems like a horrible way to live. If it's a scam the joke is on them.

People who give, give have a big heart, and usually have more to give.

Helping others is very productive. A cold heart, not so much.

Really?

The rich are different from you and me

They are more selfish

LIFE at the bottom is nasty, brutish and short. For this reason, heartless folk might assume that people in the lower social classes will be more self-interested and less inclined to consider the welfare of others than upper-class individuals, who can afford a certain noblesse oblige. A recent study, however, challenges this idea. Experiments by Paul Piff and his colleagues at the University of California, Berkeley, reported this week in the Journal of Personality and Social Psychology, suggest precisely the opposite. It is the poor, not the rich, who are inclined to charity.

In their first experiment, Dr Piff and his team recruited 115 people. To start with, these volunteers were asked to engage in a series of bogus activities, in order to create a misleading impression of the purpose of the research. Eventually, each was told he had been paired with an anonymous partner seated in a different room. Participants were given ten credits and advised that their task was to decide how many of these credits they wanted to keep for themselves and how many (if any) they wished to transfer to their partner. They were also told that the credits they had at the end of the game would be worth real money and that their partners would have no ability to interfere with the outcome.

A week before the game was run, participants were asked their ethnic backgrounds, sex, age, frequency of attendance at religious services and socioeconomic status. During this part of the study, they were presented with a drawing of a ladder with ten rungs on it. Each rung represented people of different levels of education, income and occupational status. They were asked to place an “X” on the rung they felt corresponded to where they stood relative to others in their own community.

The average number of credits people gave away was 4.1. However, an analysis of the results showed that generosity increased as participants’ assessment of their own social status fell. Those who rated themselves at the bottom of the ladder gave away 44% more of their credits than those who put their crosses at the top, even when the effects of age, sex, ethnicity and religiousness had been accounted for.


The prince and the pauper

In follow-up experiments, the researchers asked participants to imagine and write about a hypothetical interaction with someone who was extremely wealthy or extremely poor. This sort of storytelling is used routinely by psychologists when they wish to induce a temporary change in someone’s point of view.

[EDITED FOR COMPLIANCE- posted separately]

In this case priming made no difference to the lower classes. They always showed compassion to the latecomer. The upper classes, though, could be influenced. Those shown a compassion-inducing video behaved in a more sympathetic way than those shown emotionally neutral footage. That suggests the rich are capable of compassion, if somebody reminds them, but do not show it spontaneously.

One interpretation of all this might be that selfish people find it easier to become rich. Some of the experiments Dr Piff conducted, however, sorted people by the income of the family in which the participant grew up. This revealed that whether high status was inherited or earned made no difference—so the idea that it is the self-made who are especially selfish does not work. Dr Piff himself suggests that the increased compassion which seems to exist among the poor increases generosity and helpfulness, and promotes a level of trust and co-operation that can prove essential for survival during hard times.

I don't want you to think like me. I just want you to think.
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Reply #28 posted 08/10/10 9:53pm

SUPRMAN

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In this case the change intended was to that of a higher or lower social class than the individual perceived he normally belonged to. The researchers then asked participants to indicate what percentage of a person’s income should be spent on charitable donations. They found that both real lower-class participants and those temporarily induced to rank themselves as lower class felt that a greater share of a person’s salary should be used to support charity.

Upper-class participants said 2.1% of incomes should be donated. Lower-class individuals felt that 5.6% was the appropriate slice. Upper-class participants who were induced to believe they were lower class suggested 3.1%. And lower-class individuals who had been “psychologically promoted” thought 3.3% was about right.

A final experiment attempted to test how helpful people of different classes are when actually exposed to a person in need. This time participants were “primed” with video clips, rather than by storytelling, into more or less compassionate states. The researchers then measured their reaction to another participant (actually a research associate) who turned up late and thus needed help with the experimental procedure.

http://www.economist.com/node/16690659

Excerpt from article posted . . .

I don't want you to think like me. I just want you to think.
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Reply #29 posted 08/10/10 10:31pm

RPR

SUPRMAN said:

In this case the change intended was to that of a higher or lower social class than the individual perceived he normally belonged to. The researchers then asked participants to indicate what percentage of a person’s income should be spent on charitable donations. They found that both real lower-class participants and those temporarily induced to rank themselves as lower class felt that a greater share of a person’s salary should be used to support charity.

Upper-class participants said 2.1% of incomes should be donated. Lower-class individuals felt that 5.6% was the appropriate slice. Upper-class participants who were induced to believe they were lower class suggested 3.1%. And lower-class individuals who had been “psychologically promoted” thought 3.3% was about right.

A final experiment attempted to test how helpful people of different classes are when actually exposed to a person in need. This time participants were “primed” with video clips, rather than by storytelling, into more or less compassionate states. The researchers then measured their reaction to another participant (actually a research associate) who turned up late and thus needed help with the experimental procedure.

http://www.economist.com/node/16690659

Excerpt from article posted . . .

I agree with this, I have seen this to be mostly true.

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