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IS THE BILL GATES TAX FREE FOUNDATION DOING UNCLE SAM'$ BUSINE$$ or WHAT ???

he talks like an authority on bill gates and his multi~billion$ tax free slu$h fund foundation !!!
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Friday, February 4, 2011

Bill Gates the 'philanthropist'

Bill Gates and his Microsoft corporation took heavy criticism for their almost total lack of philanthropy. Despite being the richest person in the world heading the richest company on earth, they gave nothing to charity. It was greed on a scale previously unknown by having no obligation towards the less fortunate. Even Al Capone gave much of his fortune to charity. He was known as a modern Robin Hood until his involvement with the Saint Valentines' Day Massacre showed his true colors. From Carnegie to Rockefeller, the wealthy have always felt obligated to help the public. That is, until Bill Gates came along.

But then he suddenly had a change of heart. After years of unadulterated callus uncaring, he started a charity organization that eventually became the Bill and Melinda Gates Foundation. It is the biggest philanthropic organization on earth with a net worth of $30 billion. Way to go Bill. Imagine the vast wealth of Gates and Microsoft turned to improving life in the US. We could wipe out many issues plaguing the poor while funding scientific research aimed at helping us all.

Things are rarely as they appear with Gates, and so it is here. Looking at the Gates Foundation brings up some reality. In 1994, the foundation was formed as the William H. Gates Foundation with an initial stock gift of US$94 million. Gates later gave an additional US$126 million. On June 25, 2006, Warren Buffett (then the world's richest person) pledged to give the foundation approximately 10 million Berkshire Hathaway Class B shares spread over multiple years through annual contributions, worth approximately US$30 billion.

Get the picture? The Foundation has a worth of $30 billion and it was all provided by Warren Buffett. Gates gave a pitiful $200 million of his billions and Microsoft is giving absolutely nothing. That's some real charity Bill. You formed an organization with the sole purpose of spending Buffett's money.

So how does the money get spent? Gates had a plan and it involved our government. The Gates Foundation donates funds to the National Institutes of Health (FNIH; Bethesda, MD, USA), which manages the research projects. The FNIH is a non-profit organization established by the US Congress in 1996 to promote collaboration between non-profit charities, industry and academia, "to support the NIH mission of improving health through scientific discovery" ( http://www.fnih.org/).

The fiscal year budget for the NIH is around US$28.5 billion, of which Gates provides less than $2 billion, but his is the single largest private contribution. The rest comes mostly from the US government. By targeting certain issues as a condition to get his money, Gates forces the entire Federal contribution into his agenda. For instance, Gate's fund of $450 million for research related to global health issues drew an additional $1 billion from the NIH after congress provided funds. In order to keep Gate's money flowing, Congress must support whatever Bill says. In essence, Gates is using his $2 billion a year budget to steer the entire $28.5 billion into his pet projects although none of that $2 billion is even his money.

Given that the NIH distributes taxpayers' money, it once predominantly supported research that targets health problems affecting US citizens. However, the US Federal Government's funding allocations through the NIH have been influenced by private foundations, shifting their focus and resources towards addressing the problems of global health. Global health might be a fine target but it comes at the almost complete neglect to our own. We now have no money to fund problems affecting our citizens. It is being spent to help Zimbabwe. Is that how you want our limited taxpayer health research money spent? Gates thinks so.

If you look at the Bill and Melinda Gates Foundation charter you'll its main goal is "Solving global health challenges". The only money it spends domestically is a small amount for education plus funds to wire libraries for internet. That's all. The rest is being spent overseas.

So there's the truth about Gates and his "philanthropy". He has basically used a little Warren Buffett money to hijack $30 billion in taxpayer funds for his pet projects. I'm not saying his foundation isn't doing valuable work but is it appropriate? Shouldn't we be getting the benefit of the money rather than foreign nations since it's all taxpayer funded? Why should all our medical research funds be shifted away from our needs? Give me one good reason.
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