Eric Schmidt Selling $2.5B Of Google Stock

[///AMG]

Same thing. Example: fast cars = Ferrari

If I had $2.5B I wouldnt buy a ferrari. I would rather get a Huyra, or a Special Edition Zonda 760, the Agera R, Mclaren P1. I really doubt anyone regular millionaire can really afford those cars.

 

[Rizen]

Yes and no. While a great portion no doubt goes to sharing their ideology a significant portion also goes towards charity work. I've also never a met a Mormon who's in it for the money and considering nearly every task and function in their church has no pay it's no wonder why. I mean, they actually pay this 10% tithe and then goes and work in the organization at no pay. It seems a bit above and beyond a typical charity. How many churches, let alone charities, are comprised almost entirely of unpaid volunteers let alone at the operational level the Mormons have? It's quite the accomplishment imo.

Read the Bloomberg Business article on the Mormon church. In the last 25 years they've donated like $2.5 billion to charity, which sounds like a lot, until you realize they bring in an estimated $8 billion ANNUALLY from tithes.

 

[LastQuestion]

Read the Bloomberg Business article on the Mormon church. In the last 25 years they've donated like $2.5 billion to charity, which sounds like a lot, until you realize they bring in an estimated $8 billion ANNUALLY from tithes.

You do realize that they do more than charity work? They're an international religion that continues to expand and they have buildings to build. Those temples to god use the finest materials possible at the highest grade construction. They're expensive. Operating costs etc.

Don't get me wrong, I'm not here to validate their religion. I just find it disconcerting to see people bashing Mormons when the one's I know are some of the most honest, hard-working, reasonable, and well-mannered people I've ever met. By all means fault them for their beliefs but how they use their funding to further their ideology is part of their religion and seeing as the members fund the religion it's their decision to fund it. No one forces them to pay

Also, I'd be interested in that article you mentioned. A quick google search yielded a page of anti-mormon sites

 

[LastQuestion]

Interesting article on Bloomberg. Not quite sure what your point was although I suppose if one doesn't understand Mormons it's difficult resolve the issues present in their for-profit operations.

 

[Rizen]

You do realize that they do more than charity work? They're an international religion that continues to expand and they have buildings to build. Those temples to god use the finest materials possible at the highest grade construction. They're expensive. Operating costs etc.

Don't get me wrong, I'm not here to validate their religion. I just find it disconcerting to see people bashing Mormons when the one's I know are some of the most honest, hard-working, reasonable, and well-mannered people I've ever met. By all means fault them for their beliefs but how they use their funding to further their ideology is part of their religion and seeing as the members fund the religion it's their decision to fund it. No one forces them to pay

Also, I'd be interested in that article you mentioned. A quick google search yielded a page of anti-mormon sites

My point was that they give a tiny fraction of their revenue to actual charity. I don't care how they spend their money, but I do care that they are tax exempt when they basically operate as a for-profit enterprise. Personally I think religion, especially Mormonism and Scientology, is mindless garbage but people have the right to believe what they want. But to claim that Mitt Romney is giving 40% of his income to "charity" is completely misleading.

Article is here: http://www.businessweek.com/articles/2012-07-10/how-the-mormons-make-money

Key things to note:

...a recent investigation by Reuters in collaboration with sociology professor Cragun estimates that the LDS Church is likely worth $40 billion today and collects up to $8 billion in tithing each year.

According to an official church Welfare Services fact sheet, the church gave $1.3 billion in humanitarian aid in more than 178 countries and territories during the 25 years between 1985 and 2010. A fact sheet from the previous year indicates that less than one-third of the sum was monetary assistance, while the rest was in the form of “material assistance.” All in all, if one were to evenly distribute that $1.3 billion over a quarter-century, it would mean that the church gave $52 million annually.

52 million annually would be <1% of their annual income going to charity.

Free Inquiry estimates that the Mormon Church donates only about 0.7 percent of its annual income to charity; the United Methodist Church gives about 29 percent.

Please don't mistake me, I've dated a Mormon girl, I've known some Mormon people. They, by and large, have been wonderful people. But to say that the Mormon Church is a charity is simply not true.

 

[LastQuestion]

My point was

A fair point it is. I read the article in the interim and it was an interesting to say the least and will provide some amusing topics of discussion with some of these friends of mine. However, it needs to be understood that their intent through these practices isn't one of profit in the sense that many would see it.

Their theology dictates that they have a message that requires it be shared and therefore it follows they should be 'diligent' in preserving their capacity to share it. Thus the church itself much be able to endure throughout recession, depression, and disaster. Amassing significant financial assets through work and business that further promotes their message serves these ends.

Take their 2 bil Mall as an example. Their oasis in Utah is their HQ, the heart of 'gods work' in spreading their gospel and bettering the world. Investing in this area through business protects their religious interests in more ways than one. If we take them at their word that the investment itself is not one that they derive direct monetary profit from the act is still one of self-interest. Why does the act have to go further from self-interest into greed? Frankly, I just don't see why that leap is made as their entire theology works against that mindset and I've met few Mormons that cared more about money than their integrity.

 

[DW-UK]

The question is then; what is he going to invest the $2.5B in, instead of Google?

Another question; isn’t tax a charity?

 

[J Macker]

I like how this thread about Eric Schmidt selling google stock turned into a debate on what the Mormons do for charity.

 

[J Macker]

The question is then; what is he going to invest the $2.5B in, instead of Google?

Another question; isn’t tax a charity?

Gold, silver, real estate, diversify.

Yes, tax is a charity. The lottery is called a "stupid tax" for a reason.

 

[Rizen]

I like how this thread about Eric Schmidt selling google stock turned into a debate on what the Mormons do for charity.

Welcome to the internet.

 

[choppedliver]

I don't consider the LDS and its associated charities a worthy charity, but to each his own right?

Yep to each his own. During harder times I received groceries when I was a kid from the LDS church.

I don't consider the Red Cross a worthy charity, I think animal charities are much more worthy, because people suck. But to each his own, right?