To: george76
This is ridiculous. All gifts to charity, whether made before death or after death through a will, are not subject to gift or estate taxes. If he had given this money to the Foundation after he died, no estate taxes would be paid.
He hasn't avoided anything. Zero would be owed regardless when he gave it away.
Is the author arguing that charitable gifts should be subject to gift and estate taxes?
To: HaveHadEnough
The author is saying Buffet is an avowed supporter of the estate tax... for us little people.
But Buffet is not an avowed supporter of the estate tax... for himself .
23 posted on
06/26/2006 4:10:30 PM PDT by
george76
(Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
To: HaveHadEnough
Wealthy people often make large gifts when they reach their golden years as an estate tax avoidance measure.
They don't all have to be charitable gifts to be exempt from gift tax and to reduce the taxable estate.
You are missing the point. The author is pointing out he is a hypocrite because he is effectively reducing his taxable estate while making a very public stance FOR the estate tax.
To: HaveHadEnough
Is the author arguing that charitable gifts should be subject to gift and estate taxes? No, the author's just showing his ass.
204 posted on
06/27/2006 6:33:41 AM PDT by
Wolfie
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