Amancio Ortega is Europe’s richest person. I wonder if Europe’s unemployment rate would fall if he gave one million dollars to every European adult living in poverty.
I have also wondered the same about Warren Buffett and America’s poor.
@Tyler,
Not sure what this post has to do with philanthropy. Last I heard, Buffett has given HUGE amounts of money away to charity. Pretty sure Ortega is also very generous.
The key is to get Ortega to convince the Euro nations to allow a fiscal union.
If a fiscal union will get money in the pockets of poor people, then I’m all for it. As I see it, the European and American economies will not truly be recovered until poverty is eliminated.
Excellent post, Warren.
Amancio Ortega is Europe’s richest person. I wonder if Europe’s unemployment rate would fall if he gave one million dollars to every European adult living in poverty.
I have also wondered the same about Warren Buffett and America’s poor.
@Tyler,
Not sure what this post has to do with philanthropy. Last I heard, Buffett has given HUGE amounts of money away to charity. Pretty sure Ortega is also very generous.
The key is to get Ortega to convince the Euro nations to allow a fiscal union.
thought i read on an after tax basis it was about a wash?
@chewitup,
If a fiscal union will get money in the pockets of poor people, then I’m all for it. As I see it, the European and American economies will not truly be recovered until poverty is eliminated.
@Tyler Healey,
All depends on the terms.
The Soviet Union once had a fiscal union. The difference between theory & operations is greater in practice than in theory.
Warren Buffet?
GW Bush gave Hank Paulson a blank $800 billion check from your future tax dollars to bail out a few thousand banker criminals.
How far would that have gone to help real Americans?
and, functionally, as previously discussed, it was in fact nothing more than regulatory forbearance, and not a ‘payment’
@Stevie,
Our “tax dollars” don’t “pay” for anything. See 7DIF on the subject:
http://moslereconomics.com/2009/12/10/7-deadly-innocent-frauds/
The first page is blank. Scroll down to read the good stuff.