Will Gates-Buffett plan work?

When two of the world’s richest men speak, they get attention. That was the case yesterday when Bill Gates and Warren Buffett pitched their campaign to get other super rich guys to join them in pledging at least half of their fortunes to charity.

I goggled Gates + Buffett + charity and got 5.2 million hits in 0.33 seconds. That’s a lot of chatter.

Certainly, there are many deserving charities that could use the money. But maybe Bill and Warren should think about going another way. How about giving part of their fortunes to the federal government to pay down that multi-trillion dollar debt that just keeps growing?

On second thought, giving the government free money probably isn’t such a hot idea. Charity is the way to go.

Bottom line: You have to be impressed with Gates’ and Buffett’s commitment to give back. It will be interesting to see if other billionaires follow their lead.

Here’s a look at some of the global chatter.

MSNBC.com: Gates, Buffett to megarich: Give it up

Forbes.com : Gates, Buffett Raise the Philanthropy Stakes

Political Economy, John Tamny:  If Charity Is Their Goal, Gates And Buffett Should Horde Their Wealth 

The Guardian, London: Gates, Buffett lobby the rich for donation pledges

AllVoices.com: Is Buffett & Gates Pledge Really Such a Good Idea ? 

Everything Warren Buffett blog: Warren Buffett’s Pledge