Posted on 06/26/2006 3:53:23 PM PDT by george76
Mr.Buffett. As an avowed supporter of the estate tax, Mr. Buffett could have let the government take its share of his estate after he dies.
But just as Mr. Buffett has accumulated his vast wealth without paying much personal income tax, he has found a way to avoid the tax man in this maneuver as well, even writing in his letter to Bill and Melinda Gates that a condition of the gift is that the foundation “must continue to satisfy legal requirements qualifying my gifts as charitable and not subject to gift or other taxes.”
On the estate tax, watch what Mr. Buffett does, not what he says.
(Excerpt) Read more at daily.nysun.com ...
1917 by the Democrats.
Because he choose to give the money to charity?
Maybe he's leading by example?
Don't you believe that it's his choice on who to give his money too?
Perhaps he should give it to a charity that open's up non for profit business that employ people.
I think you are just looking to attack someone because you don't like his liberal outlook.
I don't like his liberal outlook either.. but I'm not about to attack his decision.. I think it's a good one.
"The liberals like to play God."
==
The greatest mass murderer of time immemorial, greater than Mao, greater than Stalin, Hitler or anyone is Rachel Carson, the gift to the Left that continues to deliver death to the World. An inability to prevent many diseases because the World can't use DDT continues to condemn millions every year to a sad death. Way to go Lefties!
"We have no problem with who Warren wants to give his money away to.
Too bad he doesn't practice what he preaches by giving his fortune away to Uncle Sam like he wants everyone else to."
"Warren Buffett, the chairman and chief executive officer of Berkshire Hathaway Inc., will give most of his $44 billion in Berkshire stock to the Bill & Melinda Gates Foundation, entrusting his philanthropic legacy to the only person richer than him," Bloomberg reports.
You can see why Buffett would want to give his billions to charity.
The federal death tax is currently being phased out, but it will reappear in 2011 unless Congress acts--which means that if Buffett lives that long, the government will confiscate 55% of his assets upon his death.
But wait. Buffett is, as a New York Sun editorial notes, "an avowed supporter of the estate tax." As we noted in 2001, so is Bill Gates Sr., the Microsoft founder's old man, who is an executive of the Bill and Melinda Foundation.
As the Sun notes:
Mr. Buffett could have let the government take its share of his estate after he dies.
But just as Mr. Buffett has accumulated his vast wealth without paying much personal income tax, he has found a way to avoid the tax man in this maneuver as well, even writing in his letter to Bill and Melinda Gates that a condition of the gift is that the foundation "must continue to satisfy legal requirements qualifying my gifts as charitable and not subject to gift or other taxes."
On the estate tax, watch what Mr. Buffett does, not what he says.
The Gates Foundation isn't the only recipient of his largesse--three foundations headed by Mr. Buffett's three children, Susan, Howard, and Peter, will get hundreds of millions of dollars...
When billionaires back the death tax, keep in mind that they have no intention of actually paying it. They are being "generous" with other people's money.
This is the way in which the superrich wage class warfare against the merely affluent.
http://www.opinionjournal.com/best/?id=110008570
Many thanks to both of you.
It worked. ;o)
Like Buffet cares about the working people.../s
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