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Billionaires' Donations to Fight Coronavirus are Largely Self-Serving
Key Excerpts from Article on Website of Newsweek
Posted: April 26th, 2020
https://www.newsweek.com/robert-reich-billionaires-donations...
As millions of jobless Americans line up for food and others risk their lives delivering essential services, the nation's billionaires are making conspicuous donations - $100 million from Amazon's Jeff Bezos for food banks, billions from Microsoft co-founder Bill Gates for a coronavirus vaccine, thousands of ventilators and N95 masks from Elon Musk, $25 million from the Walton family and its Walmart foundation. The list goes on. Much of this is self-serving rubbish. First off, the amounts involved are tiny relative to the fortunes behind them. Bezos' $100 million amounts to about 11 days of his income. The well-publicized philanthropy also conveniently distracts attention from how several of these billionaires are endangering their workers and, by extension, the public. Bezos still doesn't provide sick leave for Amazon workers unless they test positive. On March 20, four senators sent him a letter expressing concern that the company wasn't doing enough to protect its warehouse workers. [Another] way conspicuous philanthropy is self-serving is by suggesting that government shouldn't demand more from the super-rich, even in a national emergency. As Rupert Murdoch's Wall Street Journal editorial page put it, if we had a wealth tax like Elizabeth Warren proposed, "it's unlikely [Bill Gates] would have the capacity to act this boldly." That's absurd. Warren's tax would have cost Gates about $6 billion a year, roughly his annual income from his $100 billion. The worst fear of the billionaire class is that the government's response to the pandemic will lead to a permanently larger social safety net.
Note: For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus pandemic from reliable major media sources.
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