How about Warren Buffett and Bill Gates, together worth over $100 billion? They are certainly philanthropists. But their charities are predicated on two assumptions: They both apparently trust the private sector more than government to administer their vast estates, and neither sees much of a problem in avoiding billions in inheritance taxes that would one day be due to a now-broke federal treasury.
The first assumption is the most interesting. Why indeed don't they--and other left-wing foundations--simply give their foundation assets to the federal government to spend as the government wants to spend it? I mean, couldn't they donate the money, perhaps even with the understanding that it can't be used on defense and can only go to specified departments?
I guess I'll have a bit more respect for their faith in the wisdom of the federal government when they act like they have trust. I'll have less respect for their intellect, of course, but that's another issue altogether.
