I received an email today extolling the virtues of Teresa Heinz Kerry’s philanthropy, which I have no beef with, per se. She inherited the fortune, and it’s hers to do with as she pleases. So, here’s my retort:
Isn’t this whole philanthropic thing a bit overblown? I mean, I understand why it’s done, which has a little to do with uplifting humanity and a lot to do with prestige, legacy, and in some cases, just something to keep one busy. If uplifting humanity were the only goal, then philanthropic giving is a pretty stupid way to do it, because you do far more good investing the money in the economy, such as stocks, bonds, venture capital, etc. That puts the money to work and keeps it growing and working, doing good.
I wrote a check today for about $11,000 to our insurance company. It’s to pay the medical coverage for our employees. That check goes out every month. There’s another $10,000 that goes to Social Security benefits (employer contribution) each month. Payroll is about $130,000 each month. This provides a reasonable living for about 30 people or so, and their families.
But I’m just a greedy profiteer, making my way on the backs of others, you see. Not nearly at the level of someone who inherits money and then gives it away.
What an upside-down world we live in.