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Buffett the Benefactor ( Avoids Death Taxes )
The New York Sun ^
| Jun 26, 2006
| Editorial & Opinion
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 ...
TOPICS: Editorial; Front Page News; Government; News/Current Events
KEYWORDS: abortion; abortionrights; billgates; billionaires; buffett; deathtax; estatetax; foundation; gates; gatesfoundation; geico; incometaxes; prochoice; reproductivehealth; tax; taxes; taxman; wealth
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To: jennyjenny
My husband and I go 'round and 'round about the estate tax and he has always thrown Buffett in my face to "help" him make his point that there should be one. I couldn't wait to pass this information on to him the minute I heard about it.lol there's trouble in the jennyjenny household tonight!
41
posted on
06/26/2006 4:38:25 PM PDT
by
ovrtaxt
(Diplomacy is the art of saying 'Nice doggie!'... till you can find a rock.)
To: So Cal Rocket
I have a plan to avoid death taxes as well.... I'm not going to die.
My plan is the same as it's always been...I'm broke now and I'll be broke when I die.
FMCDH(BITS)
42
posted on
06/26/2006 4:39:29 PM PDT
by
nothingnew
(I fear for my Republic due to marxist influence in our government. Open eyes/see)
To: Responsibility2nd
"Me? Well, yes I'll die. Just minutes after I've spent my last penny at age 95, the Good Lord will take me"
And may your last check made out to the funeral director bounce!
To: MIchaelTArchangel
One can avoid taxes by holding onto assets forever - Buffet's investment style. Of course, he can afford it, because he can affect the value of the companies he buys. For us middle class dolts, we're at the mercy of the hedge funds, the panics, and the brokers - and of course - the tax-man.
44
posted on
06/26/2006 4:55:07 PM PDT
by
GregoryFul
(cheap, immigrant labor built America)
To: fuzzthatwuz; Responsibility2nd
I'd like to die in bed at 95...shot by a jealous husband.
45
posted on
06/26/2006 4:58:16 PM PDT
by
durasell
(!)
To: D_Idaho
No - billionaire joins billionaire to try to make a difference. That is charity.
46
posted on
06/26/2006 4:59:41 PM PDT
by
jude24
("I will oppose the sword if it's not wielded well, because my enemies are men like me.")
To: george76
At least he didn't give it to Move-On.com or the Brady foundation.
47
posted on
06/26/2006 5:14:26 PM PDT
by
BadAndy
("Loud mouth internet Rambo")
To: george76
Looks like the "Poor" are gonna get a lot of new opera houses and museums, don't it Monica?
48
posted on
06/26/2006 5:20:21 PM PDT
by
Waco
To: Screamname
It is a waste of one dollar to give to a charitable organization that "fights poverty". If you have billions to give, open businesses in poverty stricken areas, and give people gainful employment. Work to eliminate the income tax, and replace it with comsumption taxes. Do something that will bring a return, not just make people wards of your monies.
49
posted on
06/26/2006 5:27:21 PM PDT
by
jeremiah
(How much did we get for that rope?)
To: durasell
I would like to die on my back from the shock of my 25 YO wife asking me if I liked the fact that her 19 YO sister joined us during connubials..........of course at age 96 ;)....yuh uh uh.
Of course, then revived, to last another 4 years, as the sisters nurse me slowly back to life every night.
50
posted on
06/26/2006 5:34:25 PM PDT
by
jeremiah
(How much did we get for that rope?)
To: Baynative
Actually, he said that giving all that money to his kids would ruin them. He did not want to do that to them. I agree (not that I have much choice in the matter). Too bad the liberal left doesn't do the same. Do you think we would be seeing Ted Kennedy without his inherited money?
To: Incorrigible
The best part is when I followed with the fact he gave the majority to Gates.
Hubby only grunted with the news, but later he did make the bed and sweep the carpet. I think we all know what that means. :)
To: HaveHadEnough
These elites avoid most of the income, estate... taxes but we are not so lucky.
53
posted on
06/26/2006 6:00:49 PM PDT
by
george76
(Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
To: jennyjenny; Grampa Dave
Let us know how this works out.
8-))
54
posted on
06/26/2006 6:04:08 PM PDT
by
george76
(Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
To: jeremiah
Needs repeating.
It is a waste of one dollar to give to a charitable organization that "fights poverty".
If you have billions to give, open businesses in poverty stricken areas, and give people gainful employment.
55
posted on
06/26/2006 6:06:33 PM PDT
by
george76
(Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
To: Baynative
His and their left wing love of Hillary and socialism is nuts.
Capitalism is what works, not socialism.
56
posted on
06/26/2006 6:08:48 PM PDT
by
george76
(Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
To: jennyjenny
Good work.
Like Gates needs more money to play with !
57
posted on
06/26/2006 6:10:19 PM PDT
by
george76
(Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
To: george76
Capitalism is what works, not socialism.
And Buffet is a top notch capitalist. I say, good for him if he has been able to avoid estate taxes by giving his money away. You can do the same. Feel free.
To: Crawdad
"Won't he get a rather large refund next year?"
Well, as some famous judge [Learned Hand?] once said, nobody's obligated to pay more tax than what is demanded by the law. If he happened to overpay, then he's due a refund.
59
posted on
06/26/2006 6:29:46 PM PDT
by
GSlob
To: HaveHadEnough
"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."
60
posted on
06/26/2006 6:35:55 PM PDT
by
george76
(Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
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