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Commentators discuss the "Giving Pledge" - a promise made by 38 billionaires to give at least 50% of their wealth to charity through a campaign started by investor Warren Buffett and Microsoft founder Bill Gates.

the significance of the pledge:

"The Giving Pledge wealthy may well increase American philanthropy in the long run, and yield more funding for worthy causes, but many of the letters and pledges obtained at Warren Buffett's behest refer to charitable commitments already made. And some wonder, with merit, whether increased funding for a few causes held dear by a giving circle of the super-wealthy will actually carry real, measurable impact across the society at large."

The is waiting for the money to materialise:

"Half of one billionaire's fortune is a lot of money; half of 10 billionaires' fortunes is 10 times that. And the written statement of intent can usefully concentrate even a billionaire's mind. For all that, the proof of the pledge is the action. As described by Buffett and Co, the pledge is a moral commitment, not a legal contract. It's worth keeping an eye out to see whether, when the time comes, moral pressure is quite enough."

Syndicated US columnist , among other publications, the money needs to come sooner:

"Other than making the billionaires feel good about themselves, what's the purpose? These inventors, venture capitalists, hedge fund founders and descendants of famous industrialists already give to charity. They can sign the pledge and still enjoy their money until they die. In the meantime, our schools are deteriorating, social services are being cut and jobless families are losing their homes.
Μύ
"I'd be more impressed if these inspirational and successful people pledged to commit their wealth of talent and financial resources to actively working to solve the nation's myriad problems instead of just promising not to spend everything before they die."

that the money from billionaires will mean those who already wield enormous economic power can determine social priorities too. He has an alternative idea:

"If the rich really wish to create a better world, they can sign another pledge: to pay their taxes on time and in full; to stop lobbying against taxation and regulation; to avoid creating monopolies; to give their employees better wages, pensions, job protection and working conditions; to make goods and use production methods that don't kill or maim or damage the environment or make people ill. When they put their names to that, there will be occasion not just for applause but for street parties."

the UK tax system for the lack of British philanthropists on the list:

"Perhaps the reason we have fewer philanthropists in this country is because most of them feel they have paid more than their fair share already. The 'rich' have become hate figures, forced to hand over around two-thirds of their income in assorted taxes...
Μύ
"The incontrovertible fact that the wealthy create jobs and pay for a disproportionate amount of public services through their taxes has been forgotten. If entrepreneurs felt more valued and didn't have more than half their wealth confiscated at gunpoint, maybe we'd have a few more philanthropists in Britain, too."

The the billionaires to select their causes wisely:

"Since these people are captains of industry, and are used to making hard-nosed evaluations of their investments, we can expect they'll pick wisely - far more wisely, we suspect, than the bureaucrats more usually tasked with the role of wealth redistribution.
Μύ
"All this should serve as a reminder of how much public good can come from individual initiative and the honest accumulation of wealth. Remember it the next time someone you know gives vent to their anti-billionairist hate."

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