Bill Gates wishes he wasn't so rich

cnn ^ | 5-4-6

[HairOfTheDog]

Ummmm...the main purpose of such foundations is to be a tax dodge for the wealthy. Charitable contributions are still a tax deduction.

Think about it... tax ~deduction~. In other words... paying out money to a charity you like , instead of paying that amount in taxes. It's not a savings account, it's discretionary redirection of money you have to pay anyway. It's only a deduction if you spend it.

[Wolfstar]

If that saved him a little off his regular hefty tax burdon, more power to him.

Don't get me wrong. I love tax dodges. I just wish there were more of them that we less fortunate folk could use to reduce our hefty tax burdens as well. (And I have no illusions about why every wealthy person from NASCAR drivers to Bill Gates has personal charitable foundations these days.)