Buffett the Benefactor ( Avoids Death Taxes )

The New York Sun ^ | Jun 26, 2006 | Editorial & Opinion

[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.

[LM_Guy]

Your wrong - Buffet is FOR the Estate tax !!!!

[LM_Guy]

His friends have stated that Warren is a very hands-off person and does not like to get involve with running a foundation and deciding who gets money. He likes to hire other people to invest his money !!!!

[onyx]

Don't try to lecture me.

[BigSkyFreeper]

I know he's for it. If he's "so for it", he shouldn't be donating his estate.

[A CA Guy]

He'd have to man his own foundation and go through a lot of personal problems getting it going, plus it might be too close to his children who he is not leaving the bulk of funds to.

With the Gates foundation, he likes what they do and they are already set up.

IMO they do what he would want to do and he avoids family problems, lawyer fees for no good and his own precious time.

[Polybius]

Billionaire gives to billionaire and they call it charity.

Tax free.

While he campaigns for an estate tax on the rest of us peons.

[BigSkyFreeper]

With the Gates foundation, he likes what they do and they are already set up.

Exactly and his kids aren't getting squat.

[LM_Guy]

He for it because he believe - Billionaires should donate their estates to charity. Like the Rockefeller's and the Carnegie's. He admires them.

The estate tax promotes that type of altruism..

[BigSkyFreeper]

Study the root cause of philanthropy and the desire to help the average person not big Govt !!

If you want to help the average guy, do away with the estate tax. Buffet says one thing and does another. He's setting no example of why the estate tax is a good thing.

[Constantine XIII]

Ask Gordon Freeman what HE thinks of our Benefactors. :P

*hits random things with a crowbar*

[BigSkyFreeper]

He for it because he believe - Billionaires should donate their estates to charity.

Which is an argument that makes absolutely no sense.

[IslandJeff]

He'd have to man his own foundation

While drawing a salary. Cry me a river.

;-) - I know you were kidding. Almost sounds like Anna Nicole...

Let's see what comes out of this.

[LM_Guy]

If you want to help the average guy, do away with the estate tax.

The Estate Tax is only on money/estates over several millions of dollars, how in the heck does that help the average person. 99% of Americans are not affected in any way with having to pay estate taxes. Maybe you are a multimillionaire but the rest of us are not.

Get real !!!!

[IslandJeff]

Wrong is wrong, dude, regardless of who you hold up.

[BigSkyFreeper]

Maybe you are a multimillionaire but the rest of us are not.

Maybe where you're at, you don't mind paying more taxes. I'm sick of paying taxes for everything under God's glorious sun.

[onyx]

Class envy.


It is NOT an estate tax, it is a death tax.

You GET REAL.

[Lancey Howard]

Supporting big government confiscation of other people's money, no matter whether from those people while they are alive or from their families when they die, is inexcusable and incredibly rude and selfish. Buffet's a real scumbag.

[BigSkyFreeper]

Get real !!!!

You get real. Far as I am concerned, today was an absolute facade. He talks about his dead wife, and then decides he's gonna ditch 85% of his vast wealth, leaving 15% to live on.

[onyx]

BUMP, BUMP, BUMP, Lancey. You have it right.

[IslandJeff]

And, in the abstract, it's anti-competitive. Suppose you inherited a few MM - ya think you might bank a small portion of it on your small geeky neighbor with a "killer app"?