Carlos Slim Commentary

A few days ago I posted an article on Carlos Slim, the worlds wealthiest man. I had some technical difficulties with posting the full article, and did not get an opportunity to go as in depth as I would have liked in my evaluation and opinion.

Slim has been demonized for refusing to donate half his fortune to charity, like such notable billionaires like Warren Buffet and Bill Gates. Slim, has responded with his desire to be taxed to the full extent of his income – meaning that instead of donating to charities, the money goes to the government (Slim pays taxes to the US on his American holdings, as well, as to the Mexican federal government.) for use where the nation sees fit. This in itself is very admirable, especially considering a country like Mexico that is so lacking in significant infrastructure and education, and taxes on his billion dollar a year industry would do a world of good. Though where this may be an issue is the rampant political corruption in Mexico, and I question how much of the money would actually go to the public good.

I see excellent points on both sides of the fence on this issue – and feel that donating to those charities that one feels are worth your money will never be inappropriate, especially since it ensures your money goes to the areas where you would want it to. On the other hand, taxes pay for national defense, infrastructure, public education, and public works that although many oppose (like Welfare) are still a reality, and necessity in our society, and denying the federal government these funds seems a bit selfish. I do not enjoy taxes, and plan on getting as much of a return or credit as I can, but still, render unto Caesar what belongs to Caesar. Carlos Slim and Warren Buffet know more about money that I do, and I am sure they are making informed decisions about what to do with their fortunes, but I would not vilify any who chooses to keep his money, and render unto the government their 30 pieces of silver.