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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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1
posted on
06/26/2006 3:53:25 PM PDT
by
george76
To: george76
Won't he get a rather large refund next year?
2
posted on
06/26/2006 3:54:16 PM PDT
by
Crawdad
(I cried because I had no shoes, until I met a man who had no class.)
To: george76
I have a plan to avoid death taxes as well....
I'm not going to die.
3
posted on
06/26/2006 3:54:34 PM PDT
by
So Cal Rocket
(Proud Member: Internet Pajama Wearers for Truth)
To: So Cal Rocket
To: george76
Billionaire gives to billionaire and they call it charity.
5
posted on
06/26/2006 3:56:59 PM PDT
by
D_Idaho
To: george76
A man whose legacy is destined to be as boring as his invstment style...
6
posted on
06/26/2006 3:57:48 PM PDT
by
durasell
(!)
To: george76
I love it when the liberals big supporters turn out to be hypocrits. I applaud Gates and Buffet for their philanthropy. Im also happy to see them stick it to the feds.
To: george76
Does the Gates Foundation fund abortion or "reproductive health"?
To: Crawdad
"Won't he get a rather large refund next year?"
Probably for years and past his own estate taxes.
9
posted on
06/26/2006 3:59:49 PM PDT
by
Grampa Dave
(There's a dwindling market for Marxist Homosexual Lunatic wet dreams posing as journalism)
To: So Cal Rocket
I have a plan to avoid death taxes as well.... I'm not going to die. Me? Well, yes I'll die. Just minutes after I've spent my last penny at age 95, the Good Lord will take me.
If all goes according to plan.
10
posted on
06/26/2006 3:59:58 PM PDT
by
Responsibility2nd
(A Moose Once Bit my Sister. Yeah. She Turned Moose-lim.)
Comment #11 Removed by Moderator
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: D_Idaho
Charity is when liberals raise our taxes to give money to liberal causes.
13
posted on
06/26/2006 4:01:58 PM PDT
by
george76
(Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
To: george76
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.
To: george76
Someone ought to do an expose on how Warren managed to avoid paying income taxes -- like a good rich DemonRAT -- while insisting people in the middle class get soaked.
To: Unam Sanctam
Abortion and that French RU 486 ? pill is one of the big winners of Buffets foundation.
Does the Gates Foundation fund abortion or "reproductive health"?
Yes.
16
posted on
06/26/2006 4:04:39 PM PDT
by
george76
(Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
To: Unam Sanctam
17
posted on
06/26/2006 4:04:44 PM PDT
by
Responsibility2nd
(A Moose Once Bit my Sister. Yeah. She Turned Moose-lim.)
To: ritewingwarrior
but he is really sticking to us by talking one way and then acting another, hypocrits
18
posted on
06/26/2006 4:06:14 PM PDT
by
italianquaker
(Democrats and media can't win elections at least they can win their phony polls.)
To: Unam Sanctam
Does the Gates Foundation fund abortion or "reproductive health"? In general, no. However it's possible some was diverted from their original intentions. Bill Gates' father (Gates Jr) and Warren Buffet are all for forced abortions of poor brown people in the third world. Luckily, Melinda Gates, a nice Catholic girl, has been responsible for a bulk of the giving; mostly for vaccinations and education.
19
posted on
06/26/2006 4:06:47 PM PDT
by
Incorrigible
(If I lead, follow me; If I pause, push me; If I retreat, kill me.)
To: Unam Sanctam
20
posted on
06/26/2006 4:07:09 PM PDT
by
sitetest
(If Roe is not overturned, no unborn child will ever be protected in law.)
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